{"id":1698,"date":"2020-07-23T09:03:05","date_gmt":"2020-07-23T09:03:05","guid":{"rendered":"https:\/\/cryptosfundtrading.com\/uncategorized\/chinas-blockchain-infrastructure-to-extend-global-reach-with-six-public-chains\/"},"modified":"2021-05-19T09:35:47","modified_gmt":"2021-05-19T07:35:47","slug":"chinas-blockchain-infrastructure-to-extend-global-reach-with-six-public-chains","status":"publish","type":"post","link":"https:\/\/cryptosfundtrading.com\/es\/chinas-blockchain-infrastructure-to-extend-global-reach-with-six-public-chains\/","title":{"rendered":"China\u2019s Blockchain Infrastructure to Extend Global Reach With Six Public Chains"},"content":{"rendered":"<p>The Takeaway:<\/p>\n<ul>\n<li>China&#8217;s state-backed Blockchain-based Service Network (BSN) has integrated with six public chains including Tezos, NEO, Nervos, EOS, IRISnet and Ethereum.<\/li>\n<li>Developers on these six blockchains will be able to build dapps and run nodes using data storage and bandwidth from BSN\u2019s overseas data centers starting Aug 10.<\/li>\n<li>This is part of China&#8217;s plan to be the one and only infrastructure provider for blockchain firms around the world.<\/li>\n<li>Global users will have access to China\u2019s enterprise chains and financial data via the network&#8217;s cross-chain structure and partnership with China UnionPay.<\/li>\n<\/ul>\n<p>A blockchain infrastructure backed by the Chinese government will open its services to decentralized applications (dapp) developers on a global scale on August 10.<\/p>\n<p>The move is part of China\u2019s plan to be the one and only infrastructure provider for blockchain firms across the world. That effort\u00a0<a href=\"https:\/\/www.coindesk.com\/inside-chinas-plan-to-power-global-blockchain-adoption\" data-reactroot=\"\">resembles<\/a>\u00a0the country\u2019s aggressive international expansion in other major emerging technologies such as 5G and artificial intelligence.<\/p>\n<p>This global expansion is notable, given that China\u2019s attempts to lead in other technologies have been disrupted. The Trump administration\u00a0<a href=\"https:\/\/www.nytimes.com\/2020\/05\/15\/business\/economy\/commerce-department-huawei.html\" target=\"_blank\" rel=\"noreferrer noopener\" data-reactroot=\"\">issued<\/a>\u00a0a new rule in May to prevent Chinese tech conglomerate Huawei, a leader in 5G technology, and its suppliers from using U.S. technology and software.\u00a0The U.K. has also\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/u-k-makes-u-turn-on-huawei-after-u-s-pressure-11594727179\" target=\"_blank\" rel=\"noopener noreferrer\" data-reactroot=\"\">barred Huawei<\/a>\u00a0from its 5G networks.<\/p>\n<p>Yet China\u2019s global blockchain ambitions have been a smooth sail.<\/p>\n<p>The global version of Blockchain-Based Services Network (BSN) has integrated its data centers with six major decentralized blockchains: Tezos, NEO, Nervos, Cosmos\u2019 IRISnet, Ethereum and EOS. The developers on these public chains can run nodes and applications using data storage, bandwidth and other resources provided by BSN.<\/p>\n<p>The public chains could benefit from BSN\u2019s cheap services, interoperability with other Chinese enterprise blockchains and access to financial data from China UnionPay, which is otherwise difficult for foreign-based blockchain firms to obtain and process.<\/p>\n<p>\u201cThe move is a milestone as BSN is the first state-backed blockchain infrastructure that is reaching developer communities outside China by integrating with major public chains,\u201d said Yifan He, CEO of Beijing Red Date Technology, one of the founding companies behind BSN.<\/p>\n<p><strong><em>Read More:\u00a0<\/em><\/strong><a href=\"https:\/\/www.coindesk.com\/inside-chinas-plan-to-power-global-blockchain-adoption\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>Inside China\u2019s Plan to Power Global Blockchain Adoption<\/em><\/strong><\/a><\/p>\n<p>The nationwide blockchain infrastructure project was launched in April. It is led by the State Information Center of China (SIC) and supported by state-owned tech conglomerates China Mobile and China UnionPay, and Red Date, which architects BSN\u2019s technical framework.<\/p>\n<p>SIC is a public institution under the National Development and Reform Commission (NDRC), the highest economic planning agency in the Chinese government. The institution has been one of the principal architects behind China\u2019s national information security policies, and monitors and processes macroeconomic data for policymakers.<\/p>\n<p>The six blockchain projects are BSN\u2019s first batch of decentralized public blockchains to run on the network across its three data centers in Paris, San Francisco and Hong Kong, He said.<\/p>\n<p>\u201cWe\u2019ve taken a lot of thoughts about who would be the first public chains to be integrated,\u201d He said. \u201cBesides Ethereum and EOS we have disclosed in April, we decided to include another international public chain Tezos, and two prominent China-originated projects NEO and Nervos.\u201d<\/p>\n<p>BSN aims to on-board more than 10 public chains by the end of this year based on their user bases, technical background and products, He said.<\/p>\n<h4>Cloud services for blockchain<\/h4>\n<p>Guoning L\u00fc, co-founder of Nervos, said BSN can support a tailored infrastructure service for blockchain developers, noting that projects need to be able to run nodes on such an infrastructure to operate.<\/p>\n<p>\u201cEssentially, blockchain firms are using standardized internet services from BSN as opposed to adjusting their own technical frameworks to use such services,\u201d L\u00fc said.<\/p>\n<p>The standardized development environment could save a lot of time and money for developers from building things from scratch, L\u00fc said.<\/p>\n<p>\u201cFor example, validation nodes require a high level of security protection to prevent them from distributed denial-of-service (DDoS) attacks (one of the most common cyber attacks that make a network unavailable to its users),\u201d Harriet Cao, co-founder of IRISnet Foundation, said.<\/p>\n<p>BSN will hide the complexities of these security features in its operation support. In the future, a developer can use BSN to run a node like people use cloud services, and developers can just search the name of the blockchain and hold their private keys in order to build dapps or run a node, Cao said.<\/p>\n<p>Developers will enjoy free services on BSN if they have fewer than 2,000 daily connection requests to BSN\u2019s nodes. Red Date Technology\u2019s Yifan He claims that BSN will be much more cost-effective and stable than other networks for dapp developers.<\/p>\n<p>There are free nodes for blockchain projects but they tend to be unstable and hard to trace once a dapp loses connections to the nodes. Many dapps buy services from Amazon Web Services (AWS) and build their own nodes in the data centers.<\/p>\n<p>For one single node on a<strong>\u00a0<\/strong>network like Alibaba Cloud, developers would have to pay tens of thousands of dollars per year plus the cost of human resources in order to maintain the node. In contrast, BSN will only charge several hundred dollars for the yearly resources and operational services needed to run nodes, He said.<\/p>\n<h4>APIs<\/h4>\n<p>While there are only six public chains, users will have more than a dozen options to be connected with BSN\u2019s nodes.<\/p>\n<p>All six chains will have nodes assigned to their mainnet and testnet respectively, where developers can first run their applications on testnets and find potential problems to ensure a frictionless experience on their mainnets.<\/p>\n<p>While all the chains will be able to be connected to the nodes via their native application programming interfaces (API), Ethereum and EOS developers can opt for API services provided by a third-party blockchain middleware firm dfuse.<\/p>\n<p>For Ethereum and EOS, there will be mainnet nodes, testnet nodes and dfuse nodes with their own special API infrastructure attached to the nodes.<\/p>\n<p>\u201cWhile dfuse could offer faster and more convenient connections with the nodes on BSN, we make sure the developers with privacy concerns can still opt for native APIs,\u201d He said.<\/p>\n<p><strong><em>Read More:\u00a0<\/em><\/strong><a href=\"https:\/\/www.coindesk.com\/how-chainlink-and-cosmos-fit-into-chinas-grand-blockchain-initiative\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"undefined (opens in a new tab)\"><strong><em>How Chainlink and Cosmos Fit Into China\u2019s Grand Blockchain Initiative<\/em><\/strong><\/a><\/p>\n<p>dfuse, Founded in 2018, is a Toronto, Canada-based firm that started off by providing API services to EOS-based applications. It later branched out to projects on Ethereum.<\/p>\n<p>\u201cOne of the main reasons that BSN chose us is we are very scalable,\u201d Alexandre Bourget, dfuse co-founder and chief technology officer, said. \u201cdfuse has been built and stress-tested on public chains processing 5,000 sustained\/10,000 burst transactions per second, and is ready to support the next 10x and 100x in industry growth.\u201d<\/p>\n<p>The firm has been funded by Multicoin Capital and Intel Capital, which is the investing arm of Intel Corporation.<\/p>\n<h4>One network, two systems<\/h4>\n<p>Developers can build dapps on the six public chains in BSN\u2019s global version. Domestic users in mainland China, however, only have access to enterprise blockchains due to Chinese government\u2019s restrictions on decentralized public chains that tend to have tokens.<\/p>\n<p>\u201cThe Chinese government and regulators are very cautious about decentralized public chains and try not to get involved in anything related to a public blockchain,\u201d Hongfei Da, founder of NEO, said. \u201cIt is interesting to see BSN, which has a clear commercial purpose and is backed by entities with government background, is supporting such projects.\u201d<\/p>\n<p>\u201cIt is like ByteDance behind TikTok,\u201d Da said. \u201cThe international version of the app does not necessarily comply with the Chinese regulation but the local regulations from the countries [where] it is used. BSN reflects a common pragmatic approach for Chinese companies to go global.\u201d<\/p>\n<p>BSN can serve as a way for non-Chinese blockchain firms to tap into the Chinese blockchain community.<\/p>\n<p>Developers outside China can now use many major Chinese enterprise blockchains to build their dapps, such as Tencent\u2019s consortium chain FISCO-BISCO used for its virtual bank WeBank, according to He.<\/p>\n<p>\u201cWe\u2019re thrilled for Tezos to join a cohort of public blockchains that will provide the base layer for companies and software developers building blockchain-based applications in China and globally,\u201d Hubertus Thonhauser, chairman of the Tezos Foundation Council, said. \u201cParticipating in the BSN is a momentous step forward on the path to wide-scale institutional adoption for the Tezos project.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Takeaway: China&#8217;s state-backed Blockchain-based Service Network (BSN) has integrated with six public chains including Tezos, NEO, Nervos, EOS, IRISnet and Ethereum. Developers on these six blockchains will be able to build dapps and run nodes using data storage and bandwidth from BSN\u2019s overseas data centers starting Aug 10. This is part of China&#8217;s plan [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":2627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[9,12],"tags":[13,14,15,16,17,90,91,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39],"class_list":["post-1698","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-chart-analysis","category-update","tag-bitcoin","tag-bitcoinmining","tag-bitcoinnews","tag-bitcoins","tag-bitcointrading","tag-blockchain","tag-china","tag-coinbase","tag-crypto","tag-cryptocurrencies","tag-cryptocurrency","tag-cryptocurrencyattorney","tag-cryptocurrencycommunity","tag-cryptocurrencycompany","tag-cryptocurrencyconsultant","tag-cryptocurrencydon","tag-cryptocurrencyeducation","tag-cryptocurrencyheadlines","tag-cryptocurrencylifeinvest","tag-cryptocurrencymessenger","tag-cryptocurrencynews","tag-cryptocurrencyopportunity","tag-cryptocurrencysignals","tag-cryptomarket","tag-cryptomining","tag-cryptonews","tag-cryptos","tag-cryptotrading","tag-cryptoworld","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China\u2019s Blockchain Infrastructure to Extend Global Reach With Six Public Chains - Cryptos Fund Trading<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptosfundtrading.com\/es\/chinas-blockchain-infrastructure-to-extend-global-reach-with-six-public-chains\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s Blockchain Infrastructure to Extend Global Reach With Six Public Chains - Cryptos Fund Trading\" \/>\n<meta property=\"og:description\" content=\"The Takeaway: China&#8217;s state-backed Blockchain-based Service Network (BSN) has integrated with six public chains including Tezos, NEO, Nervos, EOS, IRISnet and Ethereum. 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