Blockchain 3D Explorer visualizes bitcoin

The software helps to follow up the transactions
24 November 2017   306

It’s really hard to understand the essence of bitcoin even though there are a lot of sources, which are trying to explain what is the blockchain and how it works. An owner can’t touch it but by virtue of new technologies there is an opportunity to look at a 3D model of the blockchain.

Kevin Small from Great Britain, the developer of the Blockchain 3D Explorer, decided to present it to the public during London’s Blockchain Summit, which will be held on November 28. The program is ready to use, although it could be improved.

The Blockchain 3D Explorer can be installed on devices with Windows, Linux, Mac and Android. Users can choose a specific transaction or the program shows the random one. Bitcoin and transaction are presented as red cubes and blue spheres, respectively. They are connected with arrows, which symbolize inputs and outputs. If a user clicks on objects, he goes deeper into the matrix.

The software can help to understand what is the bitcoin and visualize accomplishes transactions.


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.