tZERO, the global leader in blockchain technology for capital markets, has recently announced that it has been granted a patent for TOME (Time Ordered Merkle Epoch) Technique by the US Patent and Trademark Office (USPTO). The new patent shall allow data from transactions through private blockchains and traditional trading systems to be immutably anchored on public blockchain ledgers.
The tZERO TOME Patent
The technology behind the new TOME patent will be seen integrating traditional trading systems with blockchain technology. TOME, defined as a base-layer technology, uses digital signatures to record and verify time-series data to include executions, settlements, and trades. With this new technology, incoming trades could be recorded efficiently and quickly in a time-series by producing a hash at any time interval that could then be anchored on a public blockchain. By possessing such a capability, tZERO can substantiate the existence of previous trades. Additionally, it can also produce an auditable and immutable record of those transactions. In a nutshell, the technology behind TOME empowers low-latency systems to incorporate the traditional matching engines along with the private blockchain ledgers, to be immutably anchored to public blockchains.
tZERO, a technology firm established in 2014, aims to use blockchain innovation for transforming Wall Street and wants to support and improve market integrity. Since its origin, the firm has pioneered the endeavors to carry out more efficiency and transparency in the capital markets through the perfect blend of blockchain innovation. tZERO has expressed that TOME, in collaboration with another framework, previously patented by the firm, shall empower linkage of the settlement of tokenized blockchain stored securities on a public blockchain, with legacy trading systems. The company even claimed that the system would offer valuable functionality to trading venues and exchanges along with the regulators for audit purposes, needed to report the trading activity.
Remarking on the development, the CEO at tZERO, Saum Noursalehi, stated that the technology would also be licensed to other companies in different fields that wish to maintain a tamper-proof record of time-series-based data.