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WIZBL acquires patent for 'Blockchain real-time ecosystem operation method'

‘WIZBL’, a company specializing in Blockchain platform and infrastructure, has acquired a patent for the Blockchain source technology. Provided by WIZBL
“WIZBL,” a Blockchain platform and infrastructure company, has obtained patent rights for Blockchain source technology.

WIZBL announced on the 19th that it has obtained a patent for ‘How to operate a real-time ecosystem of Blockchain’ (No. 10-2272810).

The patent technology has increased the efficiency of the block generation process and improved the compensation system of existing block generation criteria. Through this, participants actively participate in Blockchain platforms and increase stability of platforms.

One of the important features of a Blockchain platform is the process of creating blocks.

The block creation process takes a lot of resources and time, and platform companies use the concept of “reward” to design structures for platform participants to participate in block creation.

Therefore, each platform uses the concept of reward to design a manned structure for platform participants to participate in block generation.

Block creation methods can be divided into two main types: ‘competitive’ block creation and ‘non-competitive’ block creation.

Competitive block creation method is a structure in which all platform participants participate in the block creation process and acquire compensation for block creation when normal block creation is completed. The non-competitive method is a structure in which a small number of participants can participate in the creation of blocks and compensation is paid around them.

The problem is that the higher the percentage of participants in the competitive block creation method, the more participants who are eliminated from the block selection process and cannot receive compensation. This can also cause the platform to shrink in size and reduce the platform’s platform.

“We have established a compensation system that increases the efficiency of block creation based on a small number of trusted participants, and provides separate compensation to participants who maintain and validate data on the platform,” said a WIZBL official.

According to WIZBL, the participants in the family group are ‘trusted participants on the platform’ and are responsible for creating blocks based on high-performance systems.

The participants will be rewarded for creating blocks stably within the platform. In addition, even if performance is relatively poor, it can be compensated just by maintaining, distributing, and verifying Blockchain data.

“The technology will induce various participants to participate in the platform,” a WIZBL official said. “The increase in participants creates conditions that can lead to more stable platform operation.”

In addition to this patent, WIZBL is preparing to enter the global market through AIPC Coin, which is based on its own Blockchain technology, ‘BRTE 1.0’ and ‘BRTE 2.0’.

AIPC Coin will be used as an alternative for payment in a variety of other areas, including WIZBL’s Blockchain platform usage fees, payment fees, remittance fees, and currency exchange fees.

“We have laid the foundation for Blockchain technology to be used in actual industries and are continuously upgrading,” a WIZBL official said. “We aim for a model that can apply Blockchain to various industries.”
Reporter: Shin Young-soo