Byzantium fork on ETH mainnet date unveiled

The developers have settled on a block number and a release date for the Byzantium fork on the Ethereum mainnet
26 September 2017   1278

A tentative date for the Metropolis update Byzantium has been revealed by the developers team.

As reported by ethnews.com, on September 22nd, during an Ethereum Core Developers Meeting, Ethereum core developers Hudson Jameson, Péter Szilágyi, Ethereum founder Vitalik Buterin, and others revealed that Byzantium upgrades will be implemented around October 17th. The hard fork for Byzantium is scheduled to launch on block 4,370,000.

Thus, the initial stages of the Byzantium hard fork were tested on the Ethereum Ropsten test network as of block number 1,700,000 on September 17th. Then, the developers doubled the rewards for certain bug bounties related to the release. 

Ethereum charts on coinmarketcap.comEthereum charts on coinmarketcap.com

Meanwhile, at the time of writing, Ethereum price is about $291.83, its market capitalization is $27,673,210,117, which allows the cryptocurrency to hold the second place in the list.

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   55

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.