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   871

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.

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   158

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.
 

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.