Indian blockchain technology startup Grow Digi has achieved a significant milestone by securing two patents for its groundbreaking blockchain tech layer. This innovation reduces data storage needs by 95%, accelerates transaction speeds, and enhances security, according to the company’s founder, Sachin Kumar.
Grow digi’s two patents revolutionize blockchain technology
Grow Digi, founded in 2021, has developed a Layer 1 blockchain technology that is set to transform how enterprises create blockchain-based applications. The company’s patents will drastically cut down data storage requirements and improve transaction times from at least 5 seconds to under 300 milliseconds. “We are the first Indian company to register a Layer 1 blockchain in India,” said Sachin Kumar, the company’s Founder and Managing Director.
Blockchain tech layer: A game-changer for enterprises
The patented technology developed by Grow Digi replaces the traditional system of using multiple points to store information and verify transactions. This breakthrough not only makes blockchain applications more efficient but also significantly reduces the cost and complexity of data storage.
Enhanced security with Grow digi’s patented technology
In addition to improving performance, Grow Digi’s second patent focuses on security. The technology randomizes transaction verification, making it more difficult for influential entities within the blockchain to collude and manipulate transactions. This advancement strengthens the integrity of blockchain systems and enhances user trust.
Grow digi plans to onboard customers with new applications
Grow Digi plans to open its platform for customer onboarding soon. The company has already developed several blockchain-based applications, such as track-and-trace solutions for various industries, including electric vehicles (EVs). In addition, Grow Digi is working on an application in the health domain, where patients can securely share their medical history using blockchain.
Grow Digi’s two patents mark a major breakthrough in blockchain technology, enhancing data efficiency and security. The company is set to revolutionize industries with its innovative solutions.
