Press Release: 12/06/2021
Source: BlockFrame, Inc.
Address: 6215 Corporate Dr. Ste 101, Colorado Springs, CO 80919
BlockFrame® Inc., announces filing a patent (No.17/488,562 )for a new third-generation distributed ledger consensus model that does not utilize Mining or Proof algorithms that waste energy. This new method of reaching Consensus, named Synchronous-Trust Consensus, best described as “Carbon-Neutral Blockchain,” will be released in the first operational client-capable distributed ledger called “Philos™ Marketplace” in 2022.
BlockFrame® leadership is excited for the prospects of this new technology. CEO Chris Gorog says, “With the potential impact, we took a while to get this one right… look at the number of people mining cryptocurrency; if there is another way to implement distributed ledger without such waste, think of its impact on a global scale. The release of Synchronous-Trust Consensus is timely, with increased energy usage for bitcoin by almost three hundred percent in 2021. The global climate cannot afford to support the wasted energy from blockchain-proof algorithms much longer.”
The work on this platform began after testing large-scale use of distributed ledger for Colorado state programs, which led BlockFrame® leadership to support the State of Colorado in Passage of SB18-086. “Unfortunately, the utter failure of existing distributed ledgers in several vital areas made them economically unfeasible to implement on a large scale. That is when we started to find solutions that would make scaling distributed ledger in large programs possible, we had to rethink the entire technology from the ground up, with new blockchain techniques, including this patent-pending consensus model.” Chris Gorog.
The new designs for this distributed ledger turn the incentive model that we all have been accustomed to with cryptocurrency upside down. Participants earn tokens for storing transaction blocks for others; however, Tokens have a release structure over time, thus incentivizing the storage of blocks instead of wasting energy. In addition, participants’ trust values increase by maintaining constant synchronicity, giving them priority in the consensus process.
Certification courses for the Philos™ Marketplace are available on partner training site CySkills.
For more information on implementing next-generation distributed ledger capability, contact: info@blockframetech.com
