Taking pride in being China’s leading Internet search engine, Baidu has unveiled the public beta version for its highly anticipated open-network blockchain, Xuperchain, on January 6, 2019, during an online press conference. The network has been designed upon Baidu’s previous Blockchain-as-a-Service module.
According to the latest reports, the Xuperchain network will be operated by a suite of masternodes, placing the system in the category of high-performance blockchain networks. The project employs the excellence of parallel chain technology for making rendering a user-friendly smart contract processing ecosystem for the investors. The blockchain will give the developers and business houses a golden chance to create their applications, smart contract templates, and other functions conveniently. The whitepaper of the blockchain project revealed that the solution had been designed to settle more than 10,000 transactions per second.
The company’s official website revealed that the developers would be able to deploy the potential applications on the blockchain network for a meagre cost in comparison to other platforms. The investors can deploy a blockchain application for a minimum investment of 1 Chinese yuan or $0.14. Also, to get the full support from the Chinese regulatory bodies, Xuperchain has been designed in a manner that adheres to all the legal requirements laid down in the country for blockchain entities.
Xuperchain comes with its native block explorer, which renders the investors to keep track of the transactions being carried upon on the network. The solution has been curated to lend support to blockchain-pegged applications like Ethereum.
The whitepapers of the Xuperchain project clearly mention that the blockchain is likely to bring about a revolution in China’s governance capacities and has aimed to place China a notch higher in comparison to other countries.
The underlying code for Xuperchain blockchain was introduced in May 2018 and since then, the network has handled more than 450 million transactions while catering to the requirements of more than 3.5 million investors worldwide.