Chinese homegrown public blockchain platform Chang’An Chain has been equipped with 96-core blockchain-specific chips, and 23 companies, including China Petroleum & Chemical Corp, China Telecom and China Electronics joined its ecosystem yesterday, according to Communist Party mouthpiece People’s Daily.
Fast Facts:
- China has been accelerating the public adoption of blockchain technology, with Chang’An Chain being the latest example of its efforts in this area. The launch and development of Chang’An Chain comes against the backdrop of Beijing’s aim to facilitate state functions using blockchain-based innovation and applications, set out in July 2020.
- Chang’An Chain, officially known as ChainMaker, is China’s first domestically researched and developed open-source blockchain platform. Launched on Jan. 27, it has attracted 50 partners, including 27 state-owned companies, such as State Grid Corporation of China, China Petroleum & Chemical Corp, and China Telecom, to join its ecosystem.
- At yesterday’s ChainMaker outcome conference in Beijing, the 96 core blockchain-specific chip was introduced, billed as being able to make smart-contract processing 50 times faster. It was also revealed that ChainMaker had been applied in all kinds of scenarios in government departments.