OmiseGo & Ethereum founders intrigue the community

OmiseGo continues hiding the details about their project with Ethereum founders from the community
16 August 2017   1265

OmiseGo has been keeping the community in great suspense recently. The news of meetings with Ethereum founders Dr. Gavin Wood and Vitalik Buterin, in addition to meetings with officials at the Central Bank of Thailand, have left the community buzzing with the possible outcome of these developments.

OmiseGo has announced the meetings via their social media:

On top of that, OmiseGo has recently announced that its foundational protocol has been revealed with Buterin and Joseph Poon’s Plasma:

Thus, the community holds its breath while waiting for more details from OmiseGo which are to be pretty exciting. 

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.