Indian Startup Revolutionizes Blockchain with Innovative Patents

Indian blockchain startup Grow Digi secured two patents for ground-breaking technology that significantly reduces data storage and transaction time, while enhancing security. Founder Sachin Kumar explains the technology's potential for various applications, from industry to healthcare, as the company plans to monetize their platform this year.

In a remarkable leap in technology, Indian startup Grow Digi has been awarded two patents that drastically reduce data storage needs by 95%, speed up transactions, and boost security within blockchain technology, a company official revealed. This innovation positions Grow Digi as a pivotal player in the blockchain sector.

Founder Sachin Kumar explained that the firm's newly patented base layer blockchain technology marks the first of its kind registered in India, potentially transforming how enterprises create blockchain-based applications. By slashing transaction times from five seconds to under 300 milliseconds, the technology stands to redefine efficiency in digital transactions.

Kumar also emphasized the security advancements, which aim to combat collusion in blockchain networks by randomizing transaction verification processes. With 41 dedicated employees, the company plans to begin commercializing its services this year, offering applications across various industries, including healthcare and electric vehicles.

(With inputs from agencies.)