KuCoin Relaunches RaiBlocks Withdrawals

RaiBlocks cryptocurrency started rising in price after KuCoin crypto exchange announced that XRB withdrawals were open
19 January 2018   1254

Kucoin, one the most popular international blockchain assets exchanges, announced on January 19 withdrawals relaunch of XRB cryptocurrency of Raiblocks payment system for the world offering instant, feeless, scalable transactions.

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

  • Average price: $19,13
  • Marketcap: $2 548 866 550
  • 24h volume: $20 322 800

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.