Topic: [2018-02-23]Bank of China Thinks It Has a Solution to the Blockchain Scaling Iss (Read 120 times)
February 23, 2018, 03:23:16 PM
It seems to me that there is no need to trust banks, especially the state, and especially the Chinese, where at every turn something is being attempted to restrict and ban. It seems to me that for bitcoin a network of lightning, phantom net or even SegWit would be a much better solution to problems.
February 23, 2018, 12:11:18 PM
I don't see it being a viable solution. By the time you've added all the labels for the blocks you've just compressed, with all the space that's going to take up, it's not going to be any smaller. Plus, it's less resource intensive to point to a single block and read it than it is to decompress and scan through a large one. Also, since hashes are effectively strings of random characters, they're not the easiest thing to apply compression to anyway. If anything, it's likely less efficient than what we're currently doing. If it was really as simple as this patent makes out, someone would have implemented it already.
February 23, 2018, 09:03:20 AM
Bank of China, one of the four largest state-owned commercial banks in the country, has filed a patent application for a process it says is better able to scale blockchain systems.
Full article on Coindesk
Full article on Coindesk
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