MUMBAI, India, Aug. 29 -- Intellectual Property India has published a patent application (202421013933 A) filed by Ettrick Innovations Private Limited, Maharashtra, on Feb. 27, 2024, for 'system and method for decentralized ledger transactions based on blockchain.'
Inventor(s) include Rajanish Kamalakar Kamat; Jitendra K Gupta; and Ujjwal Thakur.
The application for the patent was published on Aug. 29, under issue no. 35/2025.
According to the abstract released by the Intellectual Property India: "A system and method for blockchain based transaction is disclosed. A plurality of block validator networks (BVNs) validates transactions for blockchain accounts, each account being assigned to a particular BVN, and each BVN being capable of processing transactions for thousands or tens of thousands of accounts. A directory network (DN) receives root hashes from the plurality of BVNs, the DN producing a final root hash to be anchored into another blockchain platform. A synthetic transaction chain within each BVN provides cryptographic proof for transactions that update accounts across multiple identities in different BVNs. A digital identity architecture provides users access to system features, wherein each digital identity can have multiple blockchain accounts, including digital identifier (DI) accounts and Lite accounts."
Disclaimer: Curated by HT Syndication.
