E-com Giant Alibaba Files For A New Blockchain Domain Name Patent Focusing On Cross-Chain Interactions

Alibaba has increased its interest in blockchain technologies with yet another patent application as published on the United States Patent Publication.

Asia’s e-commerce giant have applied a patent titled “Domain Name Management Scheme for Cross-Chain Interactions in Blockchain Systems” that is expected to offer unified blockchain domain systems.

Unified Blockchain Domain System (UBCDN)

Alibaba plans to launch a system that used the UBCDN to denote and share cross blockchain information.

The patent highlighted the messaging system disclosing how users will obtain a unified blockchain domain name (UBCDN) message. First, we need to understand the UBCDN message and what it contains;

  1. UBCDN of the blockchain instance – a blockchain created from scratch or one available for participants only.
  2. A digital signature of an owner of the UBCDN of the blockchain instance.
  3. A domain certificate of the UBCDN.

The UBCDN message will further have its domain name and a chain identifier in cases of interoperable blockchains or cross-chains, unique to the blockchain domain name.

‘Better Than Existing Cross-Chains’

The system promises a faster and more efficient platform than legacy cross chains in the industry today. The current cross chain systems uses relay chain interactions to connect to other blockchains (platforms on the relay chain are given a unique ID to interact).

However, this ID cannot be used on any other relay chain, a problem set to be solved by the UBCDN messaging.

“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.”

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,471FansLike
2,795FollowersFollow
4,194FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin to Follow the Equities Market Up or Down? One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement. The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just...

Public Mint Launches Its Blockchain; Over 200 Banks Plan to Support Its Digital Money

vPublic Mint, a firm founded by CNET founder Halsey Minor, has announced the launching of its ‘fiat-native’ public blockchain, which enables anyone to easily...

BTC Halving Week Brings in Record Monthly New Accounts & Doubles the Revenue for BlockFi

The past two months have been incredibly dull for the price of bitcoin, but it didn’t affect the businesses in the cryptocurrency space. The...

Currencycloud Partners with Ripple to Leverage RippleNet for Efficient Cross-Border Payments

Currencycloud - one of the global payment processing giants - has become the latest member of the RippleNet family and would help ripple in...

Coinbase Custody and IOHK Partner to Provide Institutional-Grade Staking For Cardano's ADA in Q4

IOHK, the lead developer of Cardano blockchain, and Coinbase Custody, the institutional-grade custodian launched by Coinbase Inc., announced a partnership to allow users to...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today