Grayscale Investments to Create Digital Large Cap Fund

New cryptocurrency investment fund will allow accredited investors to invest in crypto
08 February 2018   185

Investment company of Barry Silbert Grayscale Investments, which operates $ 2.17 billion, will launch a new Digital Large Cap Fund, which will allow accredited investors to invest in Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin.

The Digital Large Cap Fund actives will be distributed as follows:

  • Bitcoin (48.4%),
  • Ethereum (29.2%),
  • Ripple (12.7%),
  • Bitcoin Cash (7.2%) 
  • Litecoin (2.5%) .

We're excited to further expand the universe of Grayscale's product offerings as interest in the digital currency asset class continues to grow. As a trusted and experienced manager, Grayscale is committed to creating investment structures that are familiar to qualified investors and provide secure access to this emerging asset class.

Barry Silbert

CEO, Grayscale

Barry Silbert noted that some customers are ready to invest $ 100 million in the initiative. The public offering of the fund's shares will take place in about a year.

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.