Ripple's Ledger doubles its size

XRP Ledger decentralizes further with expansion to 55 validator nodes
18 July 2017   2911
Ripple

Is a real-time payment protocol, a shared public database with a built-in distributed currency exchange operating as the world's universal translator for money

Distributed ledger software provider Ripple has reported on its blog that the XRP Ledger ecosystem has expanded to 55 validator nodes, which has more than doubled the size of its network in less than two months.

The new validators include WorldLink, Telindus-Proximus Group, Bahnhof (Swedish ISP) and AT TOKYO Corporation, and join a growing network of leading companies and organizations currently validating transactions on the XRP Ledger, including Microsoft, Massachusetts Institute of Technology (MIT) and CGI, the copmpany detailed. 

Blockchain

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

As reported, to make XRP the globally preferred digital asset for payments it is necessary to ensure that the enterprise - ready public blockchain - is as strong as possible through additional validators.

We believe Ripple’s network will revolutionize commerce in the future and the way our customers do business, and that’s why we have chosen to run a validator node on the XRP Ledger. In the same way that communication and document sharing dramatically improved with email, Ripple and the digital asset XRP will have an equally impactful effect on the time and cost associated with cross-border payments.
 

Mathew Pulickel
Senior Vice President, Emerging Technology at WorldLink

Ripple also plans to add two third-party validators to the XRP Ledger’s Unique Node Lists (UNLs) in the coming months. 

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.