Coinbase Global has patented a system for creating a reorganization-immune blockchain index using mono-increasing sequence records. The system receives on-chain data, transforms it to a specific format, and determines sequence numbers and chain height to detect and respond to blockchain network reorganizations. GlobalData’s report on Coinbase Global gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Coinbase Global, was a key innovation area identified from patents. Coinbase Global's grant share as of February 2024 was 48%. Grant share is based on the ratio of number of grants to total number of patents.

Blockchain index immune to reorganization using mono-increasing sequence records

Source: United States Patent and Trademark Office (USPTO). Credit: Coinbase Global Inc

A recently granted patent (Publication Number: US11914560B2) discloses a system and method for creating a reorganization-immune blockchain index using mono-increasing sequence records. The system involves one or more processors and a computer-readable medium with instructions that enable operations such as receiving on-chain data for multiple blocks, transforming the data into a specific format, determining sequence numbers and chain heights, detecting blockchain network reorganizations, and updating the blockchain index accordingly. The method outlined in the patent involves similar steps, including receiving on-chain data, determining sequence numbers and chain heights for blocks, identifying canonical chains based on sequence numbers, and updating the blockchain index to reflect these changes.

Furthermore, the patent includes additional claims related to determining sequence numbers for multiple events within the on-chain data, detecting blockchain network reorganizations through notifications from blockchain nodes or miners, and designating specific blockchain nodes with unique characteristics. The method also involves ranking sequence numbers to determine the highest value and making decisions based on these rankings. The patent aims to provide a solution for creating a blockchain index that is resistant to reorganizations, ensuring the integrity and reliability of the blockchain network. By utilizing mono-increasing sequence records and specific data formats, the system and method described in the patent offer a novel approach to managing blockchain data and maintaining the accuracy of the blockchain index in the face of network disruptions.

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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.