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   468

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.

Ex S&P President to Invest in iComply Startup

The startup is aimed at developing tools and services to meet the regulative standards for blockchain start-ups
14 August 2018   110

Startup iComply, working in the field of regulatory technologies and compliance with standards, has just completed the initial round of financing, which was headed by former Standard & Poor CEO Deven Sharma, CoinDesk reports.

IComply, aimed at developing tools and services to meet the regulative standards for blockchain start-ups (especially for those that conduct ICO), said on Monday that it attracted a seven-figure sum during this invest-round, but did not say the exact figure. The round was also attended by DMG Blockchain and Block X Capital.

In addition, iComply reported that it was joined by former employee of the Commodity Futures Trading Commission (CFTC) Jeff Bandman, former Managing Director of NASDAQ and the Financial Services Industry Regulation Service (FINRA) Manny Alikandro, MIT Connection Science program member, Praveen Mandal and Prosecutor Thomas Linder.

According to Sharma, he decided to invest in the startup iComply, because the project "is focused on services for ICOs related to risks and compliance with standards." Compliance with the standards, he said, will ensure the transparency of ICO issuers and thereby help to ease the concerns of regulators.

Sharma also believes that iComply can contribute to the spread of crypto technologies, helping the entry of traditional financial services into this industry.

My interest is to see iComply evolve into a benchmark that investors can use to assess credibility of issuers, sustainability of underlying services and the price of ICOs. iComply's patent-pending software enables both security and utility tokens to monitor and document compliance, governance and risk procedures, before a public blockchain executes an immutable trade, providing trust, integrity and transparency for our clients. There have been a few ICOs that had a fundamentally robust offering that I understood and did interest me [but I] missed the opportunity. Others that have transparency from a service like iComply, I would [invest in].
 

Deven Sharma

Ex-president, Standarts & Poors

It is the ideas of transparency and trust, according to Sharma, that sparked his interest in order to start working with the blockbuster.