AdEx to Become the First DApp Based on NEO

Decentralized blockchain platform AdEx announces its technical partnership with NEO
16 August 2017   1042

The decentralized blockchain platform ad network AdEx will work closely with the NEO Smart Contracts System, often referred to as “the Chinese Ethereum”:

Thus, AdEx plans to implement a full transition to the NEO smart contracts system, which is very well thought through and effective, according to the AdEx representatives. They also believe that this cooperation will contribute to the development of the NEO ecosystem, and the new platform for the exchange of ads will become one of the first decentralized online services based on the blockchain.

We see the huge potential of NEO and this is why we are aiming at becoming the first NEO-based DApp. We are exciting about porting the AdEx core as we are convinced this will increase the efficiency of our advertising network.

Ivo Georgiev
CEO and founder of AdEx

According to Tony Tao, Secretary-general of NEO Council, this step will also have a positive effect on the further development of the so-called smart economy:

We are looking forward to AdEx moving its core to the NEO ecosystem. We are positive that DApps will help us push the Smart Economy further, and AdEx is an excellent trailblazer for this.

Tony Tao
Secretary-general of NEO Council

As reported, AdEx is currently working on releasing a prototype of their service. The prototype will be presented earlier than planned — the project’s white paper stipulates the first version of the platform will be released in February 2018, however the AdEx team is optimistic that it will be available to the general public a few months prior to that. The project is developing at a fast pace, and the ADX token is gaining a momentum on the various exchanges where it is traded.

Bank of China Filed a Patent to Scale Blockchain Systems

Bank of China has filed a patent application for a process able to scale blockchain systems  
23 February 2018   102

According to a document released by China's State Intellectual Property Office (SIPO) on February 23, the application was invented by Zhao Shuxiang and first submitted on September 28 last year.

The application states that instead of letting a new block store transactions from its previous one, a data compressing system could be used to pack transactions from multiple blocks into what the patent calls a "data block."

For example, when the system receives a request to compress transactions from block 1 to 1,000, it causes a new data block to be formed and temporarily hosted on a different storage system. Then, the system will run the packed data through a hash function with a hash value. After that, the compression system will attach labels in order to identify blocks on the blockchain.

With the use of the described method, the patent claims a reduction in the amount of the data stored in new blocks as transactions mount in a blockchain while ensuring that data from all previous transactions will still be tamper-proof and traceable.

At the moment, the patent in the review process.