China's largest Internet search site Baidu has announced the creation of its blockchain with an open network. The project is named "XuperChain", while users can access the beta version of the application for just 1 yuan.
The platform will be managed by masternodes (the technology is familiar to EDC Blockchain users who lease their coins to masternodes with the use of the LPoS algorithm) and will use parallel chain technology to simplify smart contract processing. This will allow projects to create applications, ready-made templates of smart contracts and add specific functionality to the needs of different types of businesses.
"Chinese Google", as Baidu is called, now accounts for 80% of the Chinese Internet market and is the third search engine in the world.
This news, along with the adoption of the law on cryptography by the Chinese authorities, is one of the main topics being discussed in the international crypto communities. According to some analysts, these positive signals have become the main drivers for the recovery of Bitcoin which made it reach above $8000.
It should be noted that more large Internet companies will publish their block initiatives. Jingdong Mall, a major Chinese e-commerce company, and Tencent, a major venture capital company, introduced users to their White Papers. Therefore, on February 20, 2020, the release of consortium blockchain from Alipay is expected!
The appearance of such famous brands in the niche of blockchain innovations will be an important factor for the development of crypto technology around the world.
The mission of the EDC Blockchain platform is to tokenize business and globally promote blockchain innovations. We expect even more active growth in the use of blockchains in a variety of industries in the largest countries.