The cryptocurrency subsidiary of Overstock.com, tZERO, has received a patent by the U.S. Patent and Trademark Office for the Time Ordered Merkle Epoch (TOME) methodology.
According to the official announcement, TEMO is a base-layer technology that uses digital signatures to record and verify time-series data such as trades, executions, and settlements.
tZERO CEO, Saum Noursalehi, claims the technology, which is synergistic with the patent that tZERO announced earlier this year, has many use-cases in the blockchain ecosystem.
"It can be used in our suite of products, as well as licensed to companies across various industries that are seeking to maintain a tamper-proof and auditable record of time-series-based data," Noursalehi added.
Previously tZERO launched a mobile app on Android devices, which allows its users to buy, sell and hold digital currencies directly on their mobile phone, rather than using more vulnerable, third-party exchanges for custody.
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