Antshares gained 400% in one week

Chinese blockchain platform received a "boom" growth
23 June 2017   803

AntShares is a Chinese blockchain platform. It had big price spikes recently, now is at 9$.

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

AntShares Charts
AntShares Charts

This blockchain platform is not popular in the Western world now. It is due the fact that it is not targeted at western customers. It's about time to get familiar with this product.

What’s inside?

AntShares features:

  • It uses smart contract like Ethereum, but it is possible to held multiple classes asset in one chain.
  • Platform is Sino-centric.
  • It is focused on “digital asset registration,” and has successfully helped more than one firm.

Can AntShares become a Badu for Bitcoin's Google? Fact that AntShares is native for China and "knows" how to navigate in it's regulatory landscape can really help this platform to become successful. AntShares is far from Bitcoin and it can be it's plus too.

Local currencies and networks

The main factor of currencies' popularity is its social acceptability and social network effect. Facebook is not main social network in a lot of counties, for example, China and Russia have their own social networks. Facebook competes for users in this countries with local social networks.

Same with Bitcoin. Worldwide this currency is or not, Bitcoin is less popular in non english-speaking regions. It is much harder to learn about it in places like China. So, projects like AntShares have all chances to get its regional alcove. Same for Russia - instead of Bitcoin, russian users can get homegrown analogue. There are two variants, why AntShares received such a "boom" growth:

  1. Upcoming conference.
  2. Cryptocurrency enthusiasts are looking for other innovative projects which appear untapped.

If AntShares will become more widely used in China, it can get a many-fold value rise and at the moment we may be witnessing only the beginning.

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   109

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.