Blockchain Wallet adds limited support for BCH

Blockchain Wallet announces adding limited support for Bitcoin Cash
23 August 2017   1525

Blockchain Wallet, one of the most popular wallets in the cryptocurrency world, has announced adding limited support for Bitcoin Cash (BCH).

We’ve been closely monitoring Bitcoin Cash (BCH) since the hard fork on August 1st and wanted to provide a brief update to our users. 

Blockchain Wallet support team

Thus, according to the announcement, within the next 8 weeks, limited support for BCH will be added via the settings panel in the Blockchain Wallet. As the team claims, the users with balances of Bitcoin in their Blockchain Wallet on August 1st will be able to access an equal balance, as of August 1st, of Bitcoin Cash.

It's also noteworthy that earlier the Blockchain Wallet team argued that the company would not support the hard-forked version of Bitcoin. 

On top of that, about a week ago added support for Ethereum cryptocurrency.

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   95

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.