DMG Blockchain Solutions Inc. (20240348460). MULTIPLE ORDINALS IN ONE TRANSMISSION simplified abstract
Contents
- 1 MULTIPLE ORDINALS IN ONE TRANSMISSION
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 MULTIPLE ORDINALS IN ONE TRANSMISSION - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Commercial Applications
- 1.9 Questions about the Technology
- 1.10 Original Abstract Submitted
MULTIPLE ORDINALS IN ONE TRANSMISSION
Organization Name
Inventor(s)
William Jackson of Kingston (CA)
MULTIPLE ORDINALS IN ONE TRANSMISSION - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240348460 titled 'MULTIPLE ORDINALS IN ONE TRANSMISSION
Simplified Explanation
The patent application describes systems and methods for hashing ordinals under a modified blockchain protocol for blockchain events following ordinal theory. Ordinal identifiers are assigned to unspent inputs for a blockchain event, and content associated with multiple ordinals is embedded into data fields of the unspent inputs. These inputs are then transferred to blockchain event outputs, which are hashed into a block and broadcasted for appending to a blockchain data structure according to the modified blockchain protocol.
- Ordinal identifiers assigned to unspent inputs for blockchain events
- Content associated with multiple ordinals embedded into data fields of unspent inputs
- Transfer of inputs to blockchain event outputs
- Hashing of blockchain event outputs into a block
- Broadcasting of the block for appending to a blockchain data structure
Potential Applications
This technology could be applied in various industries such as finance, supply chain management, healthcare, and more. It can enhance data security, improve transaction transparency, and streamline processes that involve multiple stakeholders.
Problems Solved
This technology addresses issues related to data integrity, security, and transparency in blockchain transactions. By assigning ordinal identifiers and embedding content into blockchain event outputs, it ensures the authenticity and reliability of the data being recorded.
Benefits
- Enhanced data security - Improved transaction transparency - Streamlined processes - Increased trust among stakeholders - Reduced risk of fraud or tampering
Commercial Applications
Title: Enhanced Blockchain Data Security and Transparency This technology can be utilized by financial institutions, logistics companies, healthcare providers, and other organizations that rely on secure and transparent data transactions. It can help in preventing fraud, ensuring data accuracy, and building trust with customers and partners.
Questions about the Technology
How does this technology improve data security in blockchain transactions?
This technology enhances data security by assigning ordinal identifiers and embedding content into blockchain event outputs, ensuring the authenticity and reliability of the data being recorded.
What are the potential applications of this technology beyond blockchain events?
This technology can be applied in various industries such as finance, supply chain management, healthcare, and more to enhance data security, improve transaction transparency, and streamline processes involving multiple stakeholders.
Original Abstract Submitted
systems and methods for hashing ordinals under a modified blockchain protocol for blockchain events following ordinal theory. ordinal identifiers are assigned to unspent inputs for a blockchain event. content associated with multiple ordinals are embedded into data fields of the unspent inputs, which are then transferred to blockchain event outputs. the blockchain event outputs, including the embedded content associated with the multiple ordinals, are hashed into a block, which is broadcasted for appending to a blockchain data structure according to the modified blockchain protocol.
