BTC-e users to receive first payments at September 15th

BTC-e exchange has just released a new FAQ-statement
12 September 2017   642

BTC-e cryptocurrency exchange released new statement.

The administration of the crypto exchange announced that users will be able to receive the first payments on the day of launch of the new site, on September 15. Verification for withdrawal of funds is not needed.

On the day the platform is launched, some of the funds will be transferred to tokens. There will be no converting of fiat into coin. Recalculation will be held with a higher ratio than 55/45. After launching the platform, in your account you will be able to see the available output methods. In addition, new ways of input and output of fiat will be available: any banks in Russia, Ukraine, Belarus, Kazakhstan, Europe and Asia. Data on limits will be known on September 15.

BTC-e team

Also, according to the representatives of the exchange, users will be able to carry out without verification the following operations -

  • trading in all pairs 
  • input and withdrawal of funds through the codes of the new site (analog BTC-e code)
  • and input-output in coins.

Verification, however, will require for users who need to input or withdraw the currency using Wire Transfer, SEPA, and other payment systems that require mandatory identity verification.

So, verification is mandatory for:

- Accounts that were blocked before July 25, 2017 
- accounts with need to change the e-mail;
- accounts with need to unbind the 2FA;
- accounts with need to remove the IP whitelist 

Additionally, on 11th of September, BTC-e launched customer support service. 

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.