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   1034

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.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   56

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.
 

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.