The technology that improves the scalability of blockchain is patented by the Bank of China, one of the largest state-owned banks in the country. The technology will allow storing the transaction history not in each new block, but in a separate “data block”, according to the report published by China’s State Intellectual Property Office. When receiving a request for transaction compression from the first block to the thousandth, the system creates a new data block and temporarily stores it in another system. The system will then run the packed data through a hash function with a hash value. The patent is aimed at reducing the amount of data stored in new blocks, as transactions are generated in the blockchain.
We are on twitter: https://twitter.com/KolesCoinNews
We are on facebook: https://www.facebook.com/KolesCoinNews/
We are on Steemit: https://steemit.com/@kcnnews
We are on Medium: https://medium.com/koles-coin-news
We are on linkedin: https://www.linkedin.com/groups/12025958
We are on Blogger: http://kolescoinnews.blogspot.com/
We are on google+: https://plus.google.com/b/102188026596616035629/collection/0DA-cB
#kcn #kolescoinnews #cryptocurrency #bitcoin #blockchain #mining #token #ICO #future #technologies #fintech #coinmarketcap
We Accept All Major Cryptocurrencies. BTC BCC ETH LTC DASH
FREE International Shipping. We ship worldwide! No additional charges.