Alibaba Files Patent For Blockchain Domain Name Management System

alibaba files patent

The latest cryptocurrency news and blockchain updates bring us closer to the plans of the Chinese online retail giant, Alibaba. As the updates show, the company has applied for a new United States patent within the realm of blockchain. Alibaba files patent for domain management on the blockchain, titled “Domain Name Management Scheme for Cross-Chain Interactions in Blockchain Systems.”

As we can see, the application was filed on August 15 in a continuation of an application that was filed before that – in November 2018. The filing shows that Alibaba intends to patent a system that uses a “unified blockchain domain name” (UBCDN) as they call it – mainly in order to denote and share information.

Now that Alibaba files patent for blockchain system like this, it also proposes to use a computing system that will generate a UBCDN message which contains a blockchain domain name and a chain identifier which is paired with that name.

As many best cryptocurrency news sites shared, Alibaba files patent which has a filing that states that the UBCDN message contains a “UBCDN of the blockchain instance, a digital signature of an owner of the UBCDN of the blockchain instance (a UBCDN owner) on the UBCDN, and a domain certificate of the UBCDN.”

The UBCDN system is mainly intended to be used as a unified means of managing domain names in cross-chain interactions across different blockchain systems. The patent cites several instances where the technology could be useful, including blockchain managers. Alibaba files patent for this system – and their application reads:

“The UBCDN can include a human readable identifier or label, helping users to memorize and reach a blockchain instance easily, and thus promoting adoption or use of the blockchain instance. As an example, owners or operators of public blockchains, private block chains, or consortium blockchains can choose blockchain domain names that correspond to their names, helping users to remember the identifiers of the blockchain instances.”

The patent also cites the system as a main improvement over the existing interoperable blockchain networks:

“Unlike existing cross-chain implementations such as COSMOS, that uses a relay chain for cross-chain interactions, in which each blockchain is assigned an identifier (ID) within the relay chain network but the ID only has a local scope and cannot be reused in other relay chain networks, in the described domain name scheme, the UBCDN can be used and is recognizable globally by all blockchain instances in the unified block chain network.”

Now that Alibaba files such patent for a big system like this, it is expected for the giant to integrate blockchain tech into its intellectual property (IP) system for global enterprises and brands.

The post Alibaba Files Patent For Blockchain Domain Name Management System appeared first on DC Forecasts – Leading Digital Currencies.

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