Blockchain

tZERO Awarded Patent for TOME Technique to Record Exchanges on Public Blockchain Ledgers

tZERO, the worldwide leader in blockchain technology for capital markets, reported that it was granted a patent by the U.S. Patent and Trademark Office for TOME (Time Ordered Merkle Epoch) Technique.

Regardless, TOME is a base-layer innovation that utilizes digital identification to record and confirm time-series information, like exchanges, executions, and settlements. This technology empowers low-latency frameworks, including conventional matching engines or private blockchain records, to be secured into permanent open blockchain records.

tZERO is a technology firm that was established in 2014 with the objective of using blockchain innovation to transform Wall Street, considering financial procedures could turn out to be less obliged to conventional institutional market structures and to support and improve market integrity. Moreover, tZERO is a keiretsu organization of Medici Ventures, the blockchain auxiliary of Overstock.com, Inc. Since its origin, tZERO has pioneered the attempts to carry more transparency and efficiency to capital markets through the blending of blockchain technology.

The firm expresses that TOME will enable it to rapidly enroll incoming exchanges in a time series, compute hashes and making an auditable and permanent record of those trades. The organization further announced that, in combination with another framework patented by the organization, TOME empowers linkage of the settlement of tokenized blockchain stored securities on an open blockchain with legacy exchanging frameworks.

Remarking on the development, the CEO at tZERO Saum Noursalehi said –

This technology, which is synergistic with the patent that we announced earlier this year, has many use-cases in our ecosystem. It can be used in our suite of products, as well as licensed to companies across various industries that are seeking to maintain a tamper-proof and auditable record of time-series-based data.

tZERO was launched in January for trading, is structured as an ATS (alternative trading system), a restricted version of Securities exchange to trade tokenized private equity. It began with its local equity token, tZERO Preferred (TZEROP), with aspirations to be an issuance platform for different organizations that need to tokenize their securities.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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