Real Buterin vs. Scam Buterin

Vitalik Buterin warns his followers on Twitter about scammers' attack
11 July 2017   3497

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

Earlier today it has been reported on phishing scams targeting blockchain companies and using Slack messaging service in order to reach its victims' wallets. Multiple blockchain companies as well as single users have already fallen prey to the attack.    

Even Vitalik Buterin himself received a message from the fake one on reddit, so his reaction was not long in coming:


Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

In addition, Buterin drew followers' attention to some particular features that indicate the fraud origin of the message.

Vitalik Buterin on fake news about MyEtherWallet Vitalik Buterin on fake news about MyEtherWallet

The creator of Ethereum also sarcastically recalled another old story concerning his fake death:

In other news, Scam Vitalik died in a car crash.

Vitalik Buterin
Co-founder of Ethereum and BitcoinMagazine

However, not everyone is capable of distinguishing between real and scam, so, please, pay special attention to the links that you are switching to in order not to become another victim. We also reccomend to get familiar with the ways the attackers act through Slack.

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   95

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.