China Launches National Blockchain Platform

April 25, China will launch its nationalBlockchain Service Network (BSN) blockchain platform, which will allow developers to code and test blockchain applications on a centralized platform.

BSN will reduce the cost and scaling requirements of decentralized applications and enableIt's easy, fast, and cheap for companies and software developers to build blockchain-based applications. 

The Chinese government has recently set up a nationalblockchain committee. The committee includes such heavyweights as Huawei, JD.com, Baidu, Tencent, as well as Ant Financial. He is currently creating new standards for the BSN blockchain platform.

The committee notes:

A huge number of small and medium-sized enterprises as well as individuals will beUse BSN for invention and innovation, thereby accelerating the development and widespread use of blockchain technology.BSN stands for the "Internet of Blockchains".

BSN has already launched several protocols, which are a combination of both local and foreign protocols.Hyperledger Fabric and Xuperchain, developed by Baidu, is already part of the platform. 

The BSN itself will be tightly controlled.Skeptics believe that such a BSN permit system will giveThe Chinese government has the right to control transactions. 

To date, about 100 public nodes have already been created at BSN with the assistance of the three largest telecom operators. They plan to double their number in partnership with cloud service providers.

As previously reported, Huawei and Chineseoperators are developing a new protocol for transmitting New IP data, which is proposed to replace the TCP / IP model. The new protocol will have a built-in tracking feature.