Bitfinex launches BCH margin trading

Bitfinex exchange launches Bitcoin Cash margin trading 
04 August 2017   1025
Blockchain

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

One of the leading cryptocurrency exchanges, Bitfinex, announced the launch of margin trading in Bitcoin Cash (BCH, BCC).

Thus, the Hong Kong Exchange becomes the first to offer such an option to the traders.

The start of Bitcoin Cash margin trading occurred the day after Bitfinex added support for new tokens by launching new trading pairs: BCH/USD, BCH/BTC and BCH/ETH.

Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

When the BCH tokens were distributed, instead of the ratio of 1: 1 there was a 0.8539 coefficient. It means that if a Bitfinex user has 1 BTC, then 0.8539 BCH is charged to him. As explained by the representatives of Bitfinex, this calculation methodology takes into account the aggregate of open long and short marginal positions on the exchange. 

It is also worth mentioning that the customers report on Twitter on the fact that the Bitcoin Cash deposits were inactive:

Bitcoin Cash margin trading on Bitfinex Screenshot from Dutch_Hammer on Twitter

The users complained that the Birfinex support hadn't replied for about 6 hours. 

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.