O-Systems will release it's own cryptocurrency exchange

Cryptency is created to provide a complete solution for online traders 
08 July 2017   976

Distributed database that is used to maintain a continuously growing list of records, called blocks.

O-Systems, widely known developer company of binary options, currencies and CFD software, is going to release a new solution - crypto-currency exchange platform. Project named Cryptency.

Vista Brokers, a world-wide international investment and brokerage company with license from the Cyprus Securities and Exchange Commision, will be a partner for a Cryptency start.

Users of Cryptency will be able to trade 860 crypto-currencies, which are supported by Bitfinex, Kraken and Poloniex. Platform will support only Crypto-currency / Crypto-currency trading.

Cryptency is developed as a complete solution for online traders. According to the developers, it will integrate exchange markets, margin trading and exchange trading functionality. After the six months of development, developers claim to provide "built-in KYC compliance", custom relationship and risk management systems. Such features as charts, indicators, widget and dynamic content as news streaming will also be provided.

The fast rising of the crypto-currency led to a growth of interest from online brokers. Trading platforms for bitcoin and its counterparts have already been offered by Alpari, Panda Trading Systems, Henry Capital Markets Group, Ayondo, Plus500, Avatrade, FXOpen, XTB, JFD Brokers, Instaforex and other brokers.

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.