Brace yourselves: There’s been another blockchain patent filing out of China and this one deals with internet domain names.
The Shenzhen Graduate School at Peking University, in a patent application published Thursday by the U.S. Patent and Trademark Office, claims its “consortium blockchain” is a better way to manage top-level web domain names because it can improve security and efficiency.
With domains based on a system of distributed nodes, no “consortium or small group” can control the entire process, according to the filing. The developers also say the system is “completely compatible with the existing internet.” A “more concise and efficient consensus mechanism” brings security and reliability, and a layered structure “ensures the efficiency and portability of the system,” they claim. Read more here.