U.S. Patent 10574464 was awarded to Proclus Technologies Limited on February 25, 2020 and is entitled “Method and system for securing a blockchain with proof-of-transactions.” The first named inventor is Richard Michael Parris of Parkville, . The abstract contains an overview of the patent disclosure:

Novel tools and techniques are provided for implementing blockchain transactions, and, more particularly, to methods, systems, and apparatuses for securing a blockchain with proof-of-transactions. In various embodiments, the blockchain system utilizes a proof-of-transactions approach that is based on a multi-player voting system and that is not susceptible to a free-rider problem that affects many other cryptocurrencies. The proof-of-transactions approach allows the cryptocurrency network to divide revenue between the nodes in the peer-to-peer network that provides bandwidth and connectivity and a set of other nodes that solve computational puzzles that safeguard the security of the blockchain system. Link to Full Patent

This blockchain patent was originally filed on January 16, 2019  as U.S. Patent Application 16/249514 at the United Stated Patent and Trademark Office. The application was them awarded a patent grant and published as U.S. Patent 10574464. The primary examiner was Theodore C Parsons.

Proclus Technologies Limited, who is the original assignee of this patent, has at least 3 total granted patents in the United States as of the date of this article. This blockchain patent has been cited 0 times by other U.S. patents according to our law firm research, and can be considered an innovative patent in the field of cryptocurrency and blockchain.

Select IP monitors top patents and patents which have been allowed and granted worldwide. We are experts in patent law with experience blockchain technology and IP law and intellectual property law as it pertains to blockchain technology and cryptocurrency patents. If you are interested in connecting with an IP law attorney or patent law attorney, please contact us via the contact form.

Patentability Searches – Determine the patentability of your inventions.
Freedom to Operate Searches & Opinions – Identify patents may give you potential infringement issues (including in the recording, communication or information retrieval equipment field).
Non-Infringement Opinions – Determine if your product infringes a competitor’s patent.
Patent Invalidity Searches & Opinions – Find prior art to invalidate a competitor’s patent.
U.S. Provisional Patent Applications – Receive cost-effective “patent pending” status for your invention.
U.S. Non-Provisional Patent Applications (Utility) – Apply for patent protection on the structural and functional aspects of your invention.
U.S. Design Patent Applications – Apply for patent protection on the ornamental appearance of your invention.