Vinnik is accused of fraud in Russia

Alexander Vinnik, that is being connected with BTC-e, is accused of fraud in Russia
28 September 2017   682

Greek authorities will consider Russian inquiery about Alexander Vinnik deportation. In Russia, Vinnik is being investigated a criminal case on fraud in a large amount. This is reported by TASS. 

The crime case is in the production of an investigator of the Interior Ministry department for the Ostankino district, Moscow.

The investigation found that Vinnik A. V., acting by deception, via the Internet, under the pretext of the delivery of equipment, stole funds of the organization for more than 600,000 rubles.

Russian prosecutor's office

On August 10, a decision was made to bring him as an accused, he was put on the wanted list. Ostankino Court of Moscow on August 11 in absentia elected him a preventive measure in the form of detention.

The question of the degree of punishment for the crime committed by Vinnik A. V. on Russian territory is exclusively related to the jurisdiction of the court in determining his guilt as a result of the trial.

Russian prosecutor's office

At the press time, Vinnik is under an arrest in Thessaloniki. On 29th of September Thessaloniki court to hold first meeting on extradition of Russian citizen Alexander Vinnik to the US.

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   56

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.