According to Foresight News , The Fintech Times reports that the Islamic Development Bank Institute (IsDBI) has been granted patent number 12,548,031 B2 by the United States Patent and Trademark Office (USPTO). This patent covers a novel blockchain consensus mechanism called "Proof-of-Use" (PoU).
The PoU mechanism is based on the principle of reciprocity, where participants exchange validating others' transactions for their own transactions to be validated. Unlike PoS or PoW, PoU aims to make network influence depend on actual participation rather than computing power or token holdings, attempting to address the wealth concentration problem in the PoS model while reducing energy consumption.
The Islamic Development Bank Institute (IsDBI), part of the Islamic Development Bank (IsDB), is primarily responsible for developing Islamic financial rules and conducting research on related financial technology applications. Its parent bank, IsDB, is an intergovernmental multilateral development institution comprised of 57 member states.
