Baidu (China’s Google) launched a public beta for XuperChain blockchain project
The progress of Baidu cryptocurrency issuance has surpassed the upcoming Yuan digital version of China’s PBoC.
On January 6, Baidu Xuperchain announced its public beta release during an online press conference. Until March, users could pay as little as 1 Chinese yuan, or about $ 0.14, to deploy a blockchain application, according to the company’s website.
According to Monday’s announcement, the network is built on Baidu’s previous blockchain-as-a-service (BaaS). But the new platform doesn’t require users to build their own blockchain and allow them to deploy applications at a lower cost. It also fully meets China’s regulatory requirements for blockchain businesses, according to the team.
With the possession of masternodes, the network fits in the category of high-performance blockchains. According to its whitepaper, it is able to support more than 10,000 transactions per second. The whitepaper also states Baidu has more than 50 patents for the blockchain platform.
Baidu XuperChain has four major advantages.
- First, autonomous security is highly reliable due to Baidu’s completely self-development and its open-source technology.
- Second, it is flexible and convenient with a low threshold in which you can use blockchain technology without building a chain.
- Third, the cost of flexible payments for computing and storage resources is low.
- Fourth, nodes are open and credible which 7 supernodes including Tsinghua University, iQiyi, and other authoritative institutions have been introduced.
It is known that the basic code for Baidu XuperChain blockchain was open source in May 2019. As of now, the network has seen more than 3.5 million users and 450 million transactions, according to the company website.