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October 26, 2018

Blockchain Partition

By RevInfotech

Blockchain covers finances like war horns. Everyone is interested to know what blockchain is doing or what they can do with blockchain. It is beneficial enough for people to look in it as their source of technical evolution. The credit card companies and bank associates are the most vulnerable sectors for this topic. They want to adapt to the blockchain at their fullest so for that blockchain needs to be flawless.
This brings us to the recent patent which was granted to the American financial services company, Mastercard which makes them eligible to partition blockchain in order to store infinite transactions in any of the formats or multiple formats. Let's not get any wrong ideas that working with blockchain can be that easy. Mastercard had to do a lot and had to wait a lot to make such big thing happened. They filed the patent back in 2016 in July knowing that the patent permission can take more than years of a wait but Mastercard has got it by now since it's not the first patent applied by Mastercard and won't be the last.

 

WHAT DOES PARTITIONING OF BLOCKCHAIN MEAN?

As we know there are many companies making cryptocurrencies viable through blockchain technology, every cryptocurrency has their own methods of binding these blocks. Therefore transactions of different blockchains are different. So if a company wants to use some blockchains together, there can be some fallbacks. So the technology looks redundant here, therefore, the term " partitioning blockchain" is used which simply means that every blockchain data and their methods need to work separately. As a recent patent stated that the transaction records should have similar data sizes and similar formats. If not then managing such datalog can be hectic and expensive for these associations.

 

IMPLEMENTATION

To resolve this issue, the company will use "subnets" which can be considered as smaller segments of bigger network operating on different tasks without interfering with each other. A subnet will form a single separate system with one blockchain so that they can interact in wide spaces. This will improve the data flow and efficiency and the network. Subnets will be receiving different types of data types in different segments without interfering with each other. They can store information of any size and type based on the multiple blockchain services they are working but the number of subnets will be limited to three only.

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