First step to Metropolis: Byzantium testnet

The date of a launch for the Byzantium testnet, the next critical step toward Metropolis, has been announced
09 September 2017   1016

Byzantium is the first of the two phases in the Metropolis update, which is to be followed by Constantinople later.
The date of a launch for the Byzantium testnet, the next critical step towards Metropolis, a major upgrade for Ethereum, has been announced. 

Thus, the testnet will be deployed on September 18th

According to the information provided by coindesk.com, the actual network upgrade release is to be launched in October, depending on the length of the testing period and any issues that may arise during that time. 

If things go wrong....they will go wrong fast.
 

Péter Szilágyi
Developer

Vitalik Buterin, the creator of Ethereum, argues that he anticipates the Byzantium test phase will last between three and four weeks.

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   108

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.