Intel to Patent 'No Miners' Blockchain

System will use real computers with a predefined set of parameters that will determine how the validation of new blocks will be performed
28 May 2018   690

Intel intends to patent a new way of verifying transactions in a distributed ledger, CoinDesk reports.

In an application published by the US Patent and Trademark Office, the company describes a method that can be used to split and automatically update distributed registries, where the operator can independently verify the correctness of new blocks and the admissibility of adding them to the register.

Thus, the solution proposed by Intel differs from the traditional blockchain used by bitcoin, etc., represented by networks of competing nodes that verify and record transactions for awards.

In its application, Intel writes that some systems based on distributed registries can be represented by blockchains, but at the same time makes a distinction between the two technologies.

According to the document, the system will use real computers with a predefined set of parameters that will determine how the validation of new blocks will be performed.

Distributed ledgers have inherent scalability issues. When all of the validators in a DLS must have a copy of all transactions, all of the transactions must be broadcast to all of the validators. These broadcasted transactions create a very large number of network messages.
 

Intel Patent Filing

Mentioning the scalability problems with which blockchains have to face today, the authors write that a distributed registry may not be the most efficient mechanism for storing data.

Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.
 

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.