US Patent Issued to INTERNATIONAL INSTITUTE OF INFORMATION TECHNOLOGY, HYDERABAD on Aug. 19 for "Blockchain system for mining transaction using parallel blocks to improve scalability and a method thereof" (Indian Inventors)

ALEXANDRIA, Va., Aug. 20 -- United States Patent no. 12,393,938, issued on Aug. 19, was assigned to INTERNATIONAL INSTITUTE OF INFORMATION TECHNOLOGY, HYDERABAD (Hyderabad, India).

"Blockchain system for mining transaction using parallel blocks to improve scalability and a method thereof" was invented by Sujit Gujar (Hyderabad, India), Kannan Srinathan (Hyderabad, India) and Anurag Jain (Hyderabad, India).

According to the abstract* released by the U.S. Patent & Trademark Office: "A blockchain system for mining a transaction using parallel blocks to improve scalability is provided. The blockchain system includes a sender node, a blockchain network, and mining nodes. The sender node (i) creates a transaction, and (ii) broadcasts the transa...