Open Text has been granted a patent for a system that identifies events in blockchain technology. Upon reaching a specified threshold, it completes the original blockchain and creates a second blockchain with a consolidation genesis block, enhancing efficiency in processing and searching blockchains. GlobalData’s report on Open Text gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Open Text, AI for workflow management was a key innovation area identified from patents. Open Text's grant share as of July 2024 was 85%. Grant share is based on the ratio of number of grants to total number of patents.
Blockchain consolidation and efficient searching system
The patent US12074981B2 describes a system and method for managing blockchains through a microprocessor and a computer-readable medium. The core functionality involves identifying events that trigger the completion of an original blockchain and the creation of a second blockchain. The second blockchain includes a consolidation genesis block that contains a complete hash of the original blockchain and a pointer to it. The system also establishes links to both an archive of the original blockchain and the original blockchain itself, while ensuring the integrity of the data through validation processes. Additionally, the original blockchain can be deleted after its contents are copied and validated, thereby maintaining a streamlined and efficient blockchain management system.
Further claims detail the hashing mechanisms employed, which include multiple forward and reverse hashes using different algorithms to enhance security. The system allows for the creation of additional blockchains in response to subsequent events, each with its own consolidation genesis block that references previous blockchains. This layered approach facilitates the validation of the integrity of consolidated blockchains by checking the hashes of both the original and subsequent blockchains. The patent also specifies conditions under which the original blockchain is completed, such as reaching a threshold number of blocks, and outlines the organization of links within an archive table for efficient data retrieval and management. Overall, the patent presents a comprehensive framework for blockchain consolidation and integrity validation.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
