WIZBL owns a patent for blockchain original technology…Supporting the establishment of a European financial institution system

WIZBL owns a patent for blockchain original technology…Supporting the establishment of a European financial institution system

Press Release
August 31, 2021 by worldcryptotimes
5348
WIZBL, a blockchain platform and infrastructure company, is recognized as Korea’s unique technology by acquiring various patents on blockchain source technology. WIZBL has obtained patents for “the method and system of brokerage cryptocurrency transactions using the blockchain real-time ecosystem (No. 10-2181493)” and “the method and system of operating the blockchain real-time ecosystem (No. 10-2272810). As
WIZBL

WIZBL, a blockchain platform and infrastructure company, is recognized as Korea’s unique technology by acquiring various patents on blockchain source technology.

WIZBL has obtained patents for “the method and system of brokerage cryptocurrency transactions using the blockchain real-time ecosystem (No. 10-2181493)” and “the method and system of operating the blockchain real-time ecosystem (No. 10-2272810).

As a result, it officially certified its technology on the development and operation of a system that enables real-time transactions of cryptocurrency based on its own blockchain technology “BRTE 2.0” that implements real-time processing speed.

The patent technology of the cryptocurrency transaction brokerage method and system (No. 10-2181493) using the blockchain real-time ecosystem is related to cryptocurrency wallets.

The purpose of cryptocurrency wallets is to increase user convenience such as safe storage of cryptocurrency and easy payment.

WIZBL has a technology for scalable cryptocurrency wallets through market price queries for various assets, exchanges between cryptocurrencies, and links with external payment systems.

Based on the technology, the existing wallet function was used to check the value of assets by using the market price of external exchanges and to add the exchange function with various cryptocurrencies.

“Blockchain Real-Time Ecosystem Operation Method and System (No. 10-2272810) patent technology is designed to increase the efficiency of the block creation process and improve the compensation system of existing block creation standards, thereby that participants actively participate in the blockchain platform and improve the stability of the platform.

One of the important features of a blockchain platform is the process of creating blocks, which takes time and effort. For this reason, platform companies use the concept of ‘reward’ to design structures for platform participants to participate in block creation.

“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.

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

The WIZBL platform aims to make it available to all businesses and users who want to utilize blockchain through easy accessibility.

The possibility of blockchain is to allow users to freely create and distribute dAPPs by developing business logic on the front end without paying attention to the processing of data, rather than centralizing data management.

In addition, WIZBL is enabling real-time data processing speed to use blockchain. It is currently recording 140,000 cases per second and plans to achieve 1 million TPS through additional upgrades and tuning.

In addition, it has increased accessibility to nodes and APIs so that ordinary developers can easily participate, allowing them to use WIZBL Blockchain for developing additional technologies ranging from basic dAPPs, wallet to IoT.

Meanwhile, WIZBL is not only issuing AIPC coins based on its own blockchain technology BRTE 2.0 but also establishing a foundation that can be applied to demonstration projects.

It is preparing to enter the global market through its own virtual asset, AIPC Coin, which will be used as a proxy for approval in various other areas, including WIZBL’s blockchain platform usage fees, payment fees, remittance fees, currency exchange fees.

It has also participated in consortiums as blockchain technology companies to acquire European financial institutions since April. As soon as the acquisition is completed, it plans to start establishing a blockchain-based financial system.

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