BTC, DASH and ETH to help hurricane Harvey victims

Bitcoin, Ethereum and DASH raised in order to help hurricane Harvey victims 
30 August 2017   2812

According to nytimes.com, at least 30 deaths and many more injuries are believed to be related to the storm, which has inundated parts of the Houston area with more than 40 inches of rain. Gov. Greg Abbott of Texas called hurricane Harvey “one of the largest disasters America has ever faced”.

Plenty of organizations now help the victims and accept donations. Habitat of Humanity is one of them, however, the company went further and accepts not only USD, but also Ethereum:

Thus, at time of writing, about $7,389 at a $382.93 valuation, has been donated to the cause. According to its website, "100% of the proceeds are donated directly to Habitat for Humanity Texas to fund their long term disaster relief efforts in Harvey's aftermath."

Not only Habitat of Humanity tries to do something victims with the help of the cryptocurrencies. Danny Sessoms, host of a cryptocurrency-themed radio show based in Austin, teamed up with Unsung.org to hold a fundraiser for the Hurricane Harvey victims, as reported by cointelegraph.com. Sessoms accepts donations via Bitcoin and Dash. This effort raised about $50,000.

Moments like these show the real power of this technology and what cryptocurrency holds for the future.
 

Danny Sessoms
Host of a cryptocurrency-themed radio show

Hence, although sometimes cryptocurrencies receive a bad reputation due to their use for illegal purposes, the situations like this show that digital currency can, in fact, be used for good.

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.