VeChain has continued to pioneer innovation in the blockchain industry, with a new patent describing a new model for blockchain transaction processing.
Enterprise-focused blockchain platform VeChain has secured a new U.S. patent for a proposed model of processing on-chain transactions. The patent, approved on October 24, details VeChain’s plan to make it easier for blockchain platforms to process a single transaction with multiple tasks.
In its primer, VeChain explains that traditional blockchain platforms are inefficient in processing transactions that require the execution of multiple tasks. For instance, the patent details that existing blockchains struggle with mainstream application use cases such as fund distribution and mass product registration.
As per VeChain, the inefficiency results from such chains requiring that users create multiple transactions for each item and cannot process multiple tasks in a single transaction. The solution being processed by VeChain addresses this problem in a four-aspect model that is more flexible and efficient.
At the solution’s core is a new transaction processing method in which a blockchain validator will receive a transaction request that “includes a plurality of fields.” The initial fields, in turn, include a transaction task field where the sender can specify the clauses (several tasks) that they wish to execute in that single transaction.
The validator can only confirm the transaction as successful after processing all tasks in the designated fields. This approach, according to VeChain, eliminates the need for multiple transactions and makes public blockchains more suitable for broader use cases.
VeChain Maintains Focus on Enterprise Adoption
VeChain’s latest U.S. patent underlines the project’s commitment to pursuing enterprise-focused use cases. While VeChain caters to consumer crypto applications such as DeFi and NFTs, the blockchain has carved a niche in the industrial sector.
In October, VeChain was prominently featured on Forbes as an innovative startup powering industry manufacturing. The project has also doubled down on the logistics industry, securing blockchain-based product tracking deals with top public companies such as BMW, Walmart, and DNV GL.
Outside of its major enterprise deals, the price of VeChain’s primary token, VET, has also recently impressed. Over the past seven days, the asset has seen a 7% gain, trading at $0.02 at the time of writing.
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