International Business Machines Corporation (Armonk, NY)

A typical example would be: collecting the consensus information from a peer network, determining a conditional consensus for coordinated transactions based on the information, storing the context data that is associated with coordinated processes that are associated with coordinated transactions, and updating the context data in case there’s an interim event.

A central database stores and stores data in one database (e.g. an online database server) at a single location. It is typically central computers such as a mainframecomputer server CPU, or desktop central processing unit (CPU). Information stored on a centralized database is typically accessible via multiple different locations. Multiple users or client workstations can work simultaneously on the centralized database, for example, based on a client/serverconfiguration. A centralized database is easy to manage, maintain and manage, particularly in the context of security due to the fact of its singular location. Within a centralized database, redundancy of data is minimized since it is the single storage place for all data. This also means that any collection of data has only one primary record.

A centralized database suffers from significant drawbacks. For instance, a centralized database has one point of failure. If there are no fault tolerance considerations and a database is damaged (for instance, hardware, firmware or software issues) the information in the database is lost and all work is put on hold. Additionally, databases that are centralized are heavily dependent on the connectivity of networks. The slower connections, the longer it takes to connect to each database. The bottleneck may also happen in a database that receives high traffic from a single location. Furthermore, a centralized database is limited in access to data as only one copy of the data is stored by the database. This means that multiple devices cannot access the same data at the same time without creating major problems or risking overwriting the stored data. Additionally, since a database storagesystem has minimal to no redundancy in data the data that gets abruptly lost can be very difficult to retrieve other than through manual operation from back-up storage.

This is the reason why it is why a -based solution is necessary to overcome these drawbacks and limitations. Alongside overcoming the drawbacks presented in the previous paragraphs, blockchain methods contain transaction management and control functions. These transactions provide a reliable and safe platform for business or administrative transactions. The present technology used by the native blockchain transactions are completely atomic, i.e. each transaction is separate from all other transactions from a native mechanisms viewpoint. This is a great way to support transactional or atomic business processes, e.g. transactions in which the transfer of ownership of the assets is complete at time of transaction. Examples include property acquisition and online purchase, among others. This process requires an initialconditional commitment from the parties e.g. Letter of intent, money transferred into an escrow and sales on hold are all examples of this type of process. There could be other intermediate commitments, such as. experts’ reports, credit confirmation, etc. The process could be completed with a finalcommitment, e.g. release of the escrow, payment of the balance, or removal of property or good from sales, or the process can be concluded with a cancellation of the contract, and changes introduced during the initial commitment might need to be reverted. The current system doesn’t support this kind of process. Smart contract developers must continue to implement logic that could be made universal. When a transaction has been processed by the block, the context of the transaction will be reflected in both the last block as well as the overall state. Since the world’s state is constantly to evolve, there is no native function in the blockchain that would correlate different transactions as part of one coordinated process. By design, when an event is approved by consensus among peers, it is immutably recorded in the ledger. Any subsequent transactions will have to be re-confirmed in the ledger. The various blockchain implementations, with their currenttransaction and consensus mechanisms include: public blockchains (such like Bitcoin) that typically rely on a “Proof-of-Work” consensus mechanism whose main role is to ensure that only some peers gain charge of the ledger’s data (to prevent fraud, etc. ); permissionedblockchains (such as Hyperledger) that support a variety of consensus mechanisms (e.g., Solo, PBFT, Kafka); Hyperledger Fabric SDK that provides development and runtime environment to facilitate integration with the blockchain in a wide variety ofprogramming language (Java, Node.js, etc.)

Corda Time-windows function that may be presumed to offer precise time stamping.

However, a generic blockchain method for natively supporting end-to-end processes that stretch over multiple transactions does not exist.

Accordingly, a system and method for implementing the concept of a conditional consensus on blockchains is sought after.

One example includes the processor as well as a memory. The processor could be configured to collect consensus data from a plurality peers within an network and then identify a conditionalconsensus to co-ordinate a transaction on the basis of that consensus data, save the context information of the coordinated process associatedwith the coordinated transaction, and update the context information when there’s an interim transaction.

Another embodiment shows a method that includes obtaining consensus data from a peer network, identifying a conditionalconsensus to coordinate a transaction based upon the consensus data, then storing context data associated with the coordinated process that is associated with the coordinated transactions and updating the context data when the interim transactions occur.

A different example embodiment offers a non-transitory computer readable medium containing instructions that, when read by a processor make the processor execute one or more of collecting consensus data from a number of peers on the blockchain network and identifying a conditional consensus for a coordinated transaction that is based on consensus data, and storing the context information about a coordinated procedure that is associated with the coordinated transaction, and updating the context data in response to the identification of an interim transaction associated with the coordinated process.

Click here to view the patent on USPTO website.

Get Patents with PatentPC

What is a patent?

Patents are issued by the government to protect an invention. It gives the inventor the right to develop, utilize and sell the invention. Society gains when new technology is brought to the market. The benefits may be directly, in that it allows people to accomplish previously unattainable things, or indirectly by the economic benefits (business expansion and job creation) which the invention provides.

Patent protection is demanded by many universities and pharmaceutical companies for research and development. A patent can cover a physical or abstract product or process or a composition or method of making materials new to the field. To be granted patent protection an invention has to be useful, new and not apparent to others within the same subject.

Patents are a way to reward inventors for their commercially profitable inventions. They serve as a motivator for inventors to come up with new ideas. Patents enable entrepreneurs and inventors to be confident that there’s the possibility that they’ll receive a return for their efforts, time and money spent on technology development. They can earn money from their work.

Companies that are able to:

Protect the latest products and services;

Increase the visibility and value of your products on market

Make your company and products stand out from others;

Get technical and business information.

Be careful not to accidentally use third-party content or risk losing valuable information or creative outputs as well as other outputs.

Patents transform inventors’ information into a tradeable asset, which creates new opportunities for employment creation and business expansion through licensing or joint ventures.

Investors in the commercialization and development of technology may find small-scale businesses that have patent protection more appealing.

Patents can result in innovations and new ideas. These information may be eligible for patent protection.

Patents can serve as a deterrent against untrustworthy third-party companies that profit from an invention’s efforts.

Patent-protected technology that is commercially viable can be used to fund technological research and development (R&D) which increases the likelihood of a better technology in the near future.

Intellectual ownership of property can be used to convince lenders and investors that there are real opportunities to market your product. One patent that is powerful could open the door for many financing opportunities. You can use patents and other IP assets as collateral or security financing. Investors can also see your patent assets to boost the value of their company. Forbes and others have pointed out that each patent can increase between $500,000 and a million dollars in company valuation.

A well-thought-out business plan is essential for startups. It must be founded on IP and explain how your product/service stands out. Investors will also be impressed if you have IP rights are secure or are on the verge of being secured, and that they agree with your business plan.

It is crucial to keep your invention under wraps until you apply to protect it with patents. The public disclosure of an invention before filing it is often detrimental to its novelty and render it unpatentable. The filing of disclosures prior to filing, for example, for investors, test-marketing or any other business partners, must be done after signing a confidentiality contract.

There are a variety of patents and knowing these is vital to safeguard your invention. Utility patents cover inventions and processes that are new. Design patents cover ornamental designs. Utility patents are the most effective and shield the owner from copies and competitors. Frequently they are granted for modifications or improvements on existing inventions. They can also be used to improve or alter existing inventions. For instance, a procedure patent covers acts or methods of doing an action, while chemical compositions will comprise the combination of ingredients.

What is the length average of a patent? Patents for utility last for 20 years from the initial filing date, however, their expiration dates can be extended because of delays at the patent office for instance.

Are you considering patenting your ideas? Patents are granted only for first-to-file applicants and you must start filing quickly. Call a patent attorney at PatentPC to patent your idea now!

Patent searches are essential when you’re working on a patent application. This will enable you to view other concepts and provide insights into their work. This will allow you to restrict the scope of your invention. In addition, you can discover the latest technological advancements in your area of invention. This will help you to understand the scope of your invention and prepare you for the filing of the patent application.

How to Search for Patents

The first step to obtain your patent is to perform an internet search for patents. You can do a google patent search or do a USPTO search. Patent-pending is the term for the product included in the patent application. You can use the public pair to find the patent application. After the patent office has approved the patent application, you can do a patent number search to find the issued patent and your product is now patented. It is also possible to use the USPTO search engine. Read on for more details. It is possible to seek help from an attorney for patents or a patent attorney. Patents in the United States are granted by the US trademark and patent office or the United States patent office. The office also examines trademark applications.

Are you interested in finding other similar patents? Here are the steps you should follow:

1. Brainstorm terms that describe your invention based on its intended purpose, composition and use.

Write down a concise and precise explanation of your invention. Don’t use generic terms like “device”, “process,” or “system”. Consider synonyms for the terms you initially chose. Also, make note of key technical terms and key words.

To help you find terms and keywords, you can use the questions below.

  • What is the goal of the invention Is it a utilitarian device or an ornamental design?
  • Is inventing a method to come up with something or to perform a function? Is it a product or procedure?
  • What is the composition of the invention? What is the physical makeup of the invention?
  • What is the goal of the invention?
  • What are the terms in the technical field and keywords that define the nature of an invention? To find the correct terms, consult a technical dictionary.

2. Utilize these terms to locate relevant Cooperative Patent Classifications on the Classification Text Search Tool. If you’re not able to find the right classification for your invention, scan through the class Schemas (class schedules). If you do not get results from the Classification Text Search, you may want to consider replacing the words to describe your invention using synonyms.

3. Examine 3. Go over the CPC Classification Definition to verify the accuracy of the CPC classification that you’ve located. The link to the CPC classification definition is provided if the chosen classification title contains a blue box with “D” on the left. CPC classification definitions will help determine the scope of the classification, so you are certain to choose the one that is appropriate. The definitions could also contain research tips or other suggestions that can be useful for further investigation.

4. The Patents Full-Text Database and the Image Database allow you to find patent documents that are accompanied by the CPC classification. By focusing your search on abstracts and drawings that are representative, you can narrow down your search to find the relevant patent documents.

5. This collection of patent publication is the most appropriate to look at for any similarity with your invention. Pay close attention to the claims and specifications. You may find additional patents by referring to the patent examiner and the applicant.

6. Find patent applications published in the public domain using the CPC classification you picked in Step 3 in the Applications Full-Text and Image Database. It is possible to use the same search strategy as Step 4, narrowing your search results down to the most relevant patent applications by examining the abstract and illustrations on every page. Next, carefully examine the patent applications published with particular attention paid to the claims and the additional drawings.

7. You can find additional US patent publications by keyword search in AppFT or PatFT databases, and also search for patents classified as that are not issued by the United States per below. You can also make use of search engines on the internet to find non-patent documents that describe inventions in the literature. Here are some examples:

  • Add keywords to your search. Keyword searches may turn up documents that are not well-categorized or have missed classifications during Step 2. For example, US patent examiners often supplement their classification searches with keyword searches. Think about the use of technical engineering terminology rather than everyday words.
  • Search for foreign patents using the CPC classification. Then, re-run the search using international patent office search engines such as Espacenet, the European Patent Office’s worldwide patent publication database of over 130 million patent publications. Other national databases include:
  • Search non-patent literature. Inventions can be made public in many non-patent publications. It is recommended that you search journals, books, websites, technical catalogs, conference proceedings, and other print and electronic publications.

To review your search, you can hire a registered patent attorney to assist. A preliminary search will help one better prepare to talk about their invention and other related inventions with a professional patent attorney. In addition, the attorney will not spend too much time or money on patenting basics.