A historical step and milestone for the XTRABYTES™ project was made yesterday. We met with the patent lawyers and submitted 4 of our 8 patents for review. Originally, we had planned to submit all 8 patents for review. However, after consulting with the legal team, we decided that several patents warranted an additional focus with regard to their technical details. Given their complexity, it’s imperative that we thoroughly vet and review these details before beginning the exploration part of the patent process.
In full disclosure, the legal team will not have time to review these submissions for approximately 2-3 weeks. They confirmed what we had initially understood about timelines, namely, that each patent requires roughly 40 hours to complete. As such, we expect that reviewing the full set of patents will require 8 weeks of work.
Once the legal team reviews the data and is comfortable with proceeding, they will file the patents with the patent office. We have provided them with all the technical data they need to assess the patents and complete the filing process. This process has required a tremendous investment in time and effort on the part of the Founders. However, we believe these steps are necessary for safeguarding the intellectual property of XTRABYTES™.
We are at a critical juncture in our journey. As such, we want to take a moment to thank all the XTRABYTES™ employees and supporters for trusting in us and supporting this project. While there have been many ups and downs, we are finally progressing to the point all of you have been waiting for.
What does this mean?
Submitting a patent to the patent lawyer is the first step towards achieving patent pending status. After the lawyers complete their due diligence and are confident that the patent will be accepted, they will file the patents with the patent office. The patent office will then review the patents by answering these three questions:
- Is this new?
- Is it inventive or a modification of something existing?
- Is it a proper subject matter?
Once we finally achieve patent pending status, we can then start marketing the technology and revealing its details through white papers. By then you will discover what is so unique and special about our platform.
Unfortunately, the above timeline is fluid, so its completion date remains unknown. However, we will keep you updated about its status as we progress. All we can say at this time is that we are making progress and are excited to have finally submitted the patent documents. We are on the verge of beginning the next leg of our journey and are excited to have you with us.
In the next few weeks, we will be adding more details to the remaining four patents. These details will reveal significant differences between our technology and those that currently exist in the marketplace. We will provide you with a comprehensive update about these details once we can submit them to the lawyer.
Finally, in anticipation of the technology’s release into the marketplace, we will be fortifying and strategically positioning each division
XTRABYTES™ aims to deliver a blockchain platform that provides users with superior speed, security, and scalability over present blockchain offerings. To do so, we have developed a unique Proof of Signature consensus algorithm that obtains these benefits in an economical and eco-friendly manner. Moreover, our platform’s modular nature allows users to assume an infinite capacity for growth. And with modularity driving our development pipeline, we have instituted enhanced usability for programmers and end-users alike. This includes code-agnostic APIs, superior technical support, and best-in-class user interfaces. All to achieve our vision of having users and developers view XTRABYTES™ as the premier blockchain platform in the world