BLOCKCHAIN

Bank of China suggested the alternative solution on scaling the blockchain systems

The state intellectual property office of China (SIPO) published the patent application of fourth in size Bank of China for the decision on scaling blockchain systems.

In the application submitted on September 28, 2017, it was offered to use the system of compression of data for packing of a transaction from several blocks into the so-called “block of data”.

“As soon as the system will receive a request for compression of transactions from blocks 1-1000, the new block of data which temporarily is placed in another system of storage is formed. Then the system put the packed data through a hash function with a hash value. For identification of blocks in a blockchain of the again created blocks of data and events of compression, the system appropriates them labels. Communications between these three labels will also be written down in a blockchain.”

— said in the explanatory note to the patent.

Tthe traditional method of data storage in a blockchain assumes that the new block contains transactions of the previous block.

The author of the decision Zhao Shuxiang claims that the use of the method offered by him will allow reducing the number of the data stored in new blocks at the same time guaranteeing that all previous transactions will be available to track and are protected from unauthorized access.

 

 

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blockchain, ICO, bitcoin, ethereum, mining

BLOCKCHAIN


Bank of China suggested the alternative solution on scaling the blockchain systems

Published by blockchain, ICO, bitcoin, ethereum, mining