I Hope That PoW Dies a Quick Death, Hyperledger CEO Says

Brian Belendorf belives that there gotta be another technologies instead of Proof-of-Work concept, "that aren't so energy insensive"
23 April 2018   699

Speaking at the Business of Blockchain conference at the Massachusetts Institute of Technology (MIT), executive director of the Hyperledger consortium Brian Belendorf talked about his attitude to open source technologies, the regulation of the cryptocurrency industry and the consensus algorithm Proof-Of-Work. This is reported by CoinDesk.

CoinDesk Twitter
CoinDesk Twitter

He also noted that open source technologies will always be used for both good and bad purposes. However, in his opinion, this does not play any role, as long as they remain in the public domain.

Belendorf is convinced that many ordinary users are asking the same questions as the Securities and Exchange Commission (SEC), and are also afraid of the same things.

Earlier, Proof-Of-Work in the bitcoin network was called up by the co-founder bitcoin. org and bitcointalk. org Cobra because of the centralization and control over the hashrate in the hands of the largest manufacturer of mining equipment Bitmain.

Accenture to File New Blockchain Patent

Technology, developed by the team, seeks to improve blockchain's security and stability
08 August 2018   330

Accenture, which works in the field of consulting and professional services, filed a patent application describing the technology of "Hardware blockchain accleration", designed to accelerate and improve the security of transactions in the blockchain using patented equipment. This is reported by CCN.

According to Accenture, this technology is necessary in connection with the new security threats that have emerged due to the rapid development of communication and electronic technologies. The patent application states that this technology provides safe and efficient execution of complex transactions not only between software processes and hardware systems, but also between people.

Accenture says its invention improves the security and scalability of the blockchain due to the fact that the encryption and decryption of data is carried out not only in hardware but also programmatically, so that the technology is not limited to either way.

As a result, the implementation shown … has increased security and scalability as compared to, for example, software only based security systems. For example, all or parts of the implementations may be circuitry that includes an instruction processor, such as a Central Processing Unit (CPU), microcontroller, or a microprocessor; or as an Application Specific Integrated Circuit (ASIC), Programmable Logic Device (PLD), or Field Programmable Gate Array (FPGA); or as circuitry that includes discrete logic or other circuit components, including analog circuit components, digital circuit components or both; or any combination thereof.

Accenture Patent Application

Instructions for performing tasks can be stored on various media, including flash memory, magnetic and optical disks like hard disks, CD-ROMs, as well as EPROM, ROM and RAM.

Earlier, the company developed a blocking prototype, which allows administrators to edit, rewrite and even delete blocks from closed blockchains. Then one of the leaders of Accenture, Richard Lamb, said that the absolute immutability of the block could not suit financial institutions like banks.