PraSaga awarded US patent for its blockchain model

PraSaga has been awarded a US patent. As the CEO and founder of the Zug-based foundation, Michael Holdmann, explains in a press release, the patent now granted will allow his company to “take another significant step in delivering the next evolution of blockchain architecture”.

The technology developed by PraSaga for what are known as Message Passing Transactions enables the execution of multiple actions simultaneously and in greater numbers. This will help the blockchain ecosystem to take a major step forward, because up until now it has only allowed a single transaction or action to be processed at a given point in time for smart contracts. This makes transaction processing a “particularly challenging bottleneck”, with the blockchain ecosystem having been limited by its scalability up to now.

“Our technology fundamentally changes how a blockchain can scale by enabling SagaOS to execute operations and functions directly off of SagaChain, enabling much more complex problems to be solved and a globally hardened codebase”, explains Holdmann in the press release. According to David Beberman, CTO and co-founder of PraSaga: “This is going to improve the ability for developers to create applications, manage their codebases and address real world challenges”.

Holdmann is set to discuss the importance of this patent as part of a speech on day one of the Crypto Valley Summit 2022 in Zug. His keynote speech is to be held under the title “Reimagining the Exchange of Value”. The summit is taking place on September 14 and 15.