Grow Digi gets two patents for sector agnostic blockchain tech layer

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Grow Digi gets two patents for sector agnostic blockchain tech layer - Business Standard

Quick Summary:

Grow Digi Founder and Managing Director Sachin Kumar told PTI that the bootstrapped company has developed a layer 1 or base layer of blockchain technology with base in India that will allow enterprises to develop their blockchain-based applications.

Indian blockchain technology startup Grow Digi has been granted two patents comprising technology that reduces need for data storage by about 95 per cent, reduced time for transactions and enhances security, a top official of the firm said.

The patents will reduce data storage requirement by 95 per cent in the blockchain as well as reduce transaction time from minimum of 5 seconds to less than 300 millisecond," Kumar said.