Intel Patents Tech to Verify Blockchains in Novel Way
Intel, the American software goliath, is looking for a new way to verify transactions on a decentralized leger. This does not come as a surprise, as the company has repeatedly made forays into blockchain tech, even producing their own ASIC chips specifically dedicated for mining recently.
This new information comes in a patent filing, released Thursday by the U.S. Patent and Trademark Office. In the detailed filing, the first lines describe the basic idea: “An automated method to verify a block record for a digital ledger involv[ing] a first validation node (FVN) which receives a block record from a second validation node (SVN)”.
Essentially, the company wants to create an automated verification system for the nodes, between them, without the use of a miner doing the work. Instead of the mining method, which blockchains like Bitcoin and other cryptos use, a processor would verify the transactions instead. Of course, the processor would likely have to be incredibly powerful, and the amount of information, as well as the type verified and stored by it, would be narrow and limited.
The patent does claim it may be able to skirt these computing issues as a function of the in-house technology, that quote, “the technology described herein may decrease the number of transactions that each validator must store. Rather than being required to store all transactions, each validator may store only those transactions associated with the nodes in the validation group for that validator”.
This all sounds very theoretical at this point, but if every block did not have to verify all the work done, only a couple of transactions for each node, then it could make scaling such a technology much easier, the main issue when trying to subvert the huge amount of power gained through remote mining to allow information to be verified. On the other hand, blockchain enthusiasts would claim that this system could never be as foolproof as total verification of all work done by every node in a blockchain.
Regardless of whether this tech will work, it is encouraging to see a large company taking the steps to further blockchain tech, and look at the power use issue lurking on the horizon.