PayPal patented a way to speed up the transactions

The method assumes peers to neglect the approval time on the blockchain
05 March 2018   663

Last week on March, 1 US Patent and Trademark Office published a peculiar patent application. The application was filed by PayPal and proposed a rather unorthodox way of virtual currency exchange process. Traditionally, peers seal the deal, make a transaction and wait for it to be included in the next block of a network. This usually results in relatively long waiting time until peers can actually get the cryptocurrency.

Now, PayPal suggests creating secondary wallets along with the primary ones by each user. As these secondary wallets have their own private keys assigned, PayPal proposes swapping these private keys between peers instead of submitting a transaction and waiting for the inclusion. The wallets would come with a predefined amount of the cryptocurrency. The swapping process will happen 'behind-the-scenes' and be performed by the system.

This idea is notable because although it eliminates lag in the payment process by the order of magnitude, it seems to eliminate the blockchain transparency component along. Starting from 2014, with establishing key partnerships with several bitcoin payment processors PayPal merchants got the chance to accept cryptocurrency. Also, it was reported that the co-founder of PayPal, Peter Thiel made a big investment in Bitcoin.

Ebang to Unveil New BTC Mining Devices

As reported, 10-nm process technology based Ebang E11 miners can reach 44 TH/s performance
25 September 2018   124

The Chinese manufacturer of mining equipment Ebang Communication revealed details about the new line of E11 devices, CCN reports.

At World Digital Mining in Tbilisi, the company introduced three new devices. Based on the 10-nm process technology Ebang E11 miners can reach 44 TH / s. According to the information on the company's website, new miners will go on sale in the near future.

Ebang Mining Devices
Ebang Mining Devices

On the advertising pic there are new devices: E11 (30TH / s), E11 + (37TH / s) and the most powerful E11 ++ (44TH / s)

Main competitor of Ebang - Bitmain - had introduced a high-performance chip BM1391 last week based on 7nm process technology. It is noteworthy that the device E11 ++ from Ebang in its effectiveness exceeds the flagship chip from Bitmain only 2J / TH.

The first information about the new line of miners from Ebang appeared in August.