ICON Launched Mainnet

The company generated the Genesis Block of the ICON Mainnet on January 24 and minted all ICX as planned
25 January 2018   814

ICON, a project which is building global decentralized networks, announced that the maintenance check of its testnet, which started last December, has been completed and the company generated the Genesis Block of the ICON Mainnet on January 24 and minted all ICX as planned.

ICON maiinnetGenesis Block generated on January 24, 2018 (18:25 UTC)

DApps can now be developed on top of the ICON network and ICON is already helping more than 5 DApp teams to launch new services. The teams will be presenting their projects at the ICON Annual Summit: The Genesis on January 31.

ICON team added that ICX Wallet, called ICONex will be launched soon on official Chrome Web Store.

At the moment of press, these are main market parameters of ICX:

Average price: $8,20
Marketcap: $3 114 814 649
24h volume: $195 411 000

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.