The biggest online company of China Alibaba has been applied the US patent application for its Blockchain based domain name system, reported on 26 August 2019.
According to the report, the company filled the US patent application on the 15 August regarding with the previous one applied
In the applied filling, basically a “unified blockchain domain name” (UBCDN) named system is used by the Alibaba company which is for sharing information.
The blockchain domain name and chain identifier containing UBCDN message generator computing system used by Alibaba in the newly developed dns system.
The patent also cites the system as an improvement over existing interoperable blockchain networks, saying:
“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.”
A senior official qt China’s Central Bank announced that the country will soon release its Central Bank Digital Currency (CBDC a cryptocurrency) at China Finance 40 Group on 11 Aug
Also Read: How to Earn Bitcoin? 13 Different Ways to Earn Bitcoin Free
