Chinese Giant Baidu Discusses Forthcoming Blockchain Network

Chinese Giant Baidu Discusses Forthcoming Blockchain Network

China’s tech giant Baidu, which operates one of the largest search engines in the world, announced that it had launched its first “Baidu Blockchain White Paper V1.0,” which touches upon the creation of its “Xuper Chain” network. The independent development of the new network system has gathered over 50 patents, with the intellectual property rights fully belonging to the company. The “Super Chain,” as the self-developed system is also called, will help Baidu address the challenge of computing and data storage by applying the distributed ledger technology (DLT), an umbrella term that also includes blockchain.

The rate of transactions per second of single Xuper Chain is expected to touch 10,000 via inter-chain parallel tech and a stereoscopic network, the whitepaper says.

The document also says that the tech giant will leverage blockchain for various use cases, including food safety, supply chain management, travel, manufacturing, tourism, intellectual property and trading, and social networking among others.

According to the whitepaper, Baidu will make its Xuper Chain an open network, offering developers the opportunity to create the basic infrastructure and relevant apps for the system.

“Baidu Blockchain White Paper V1.0” was released by Baidu’s Blockchain Lab, a unit that was recently created to help the company be in line with current trends in the DLT space.

Baidu boasted via its Twitter profile that Xuper Chain would integrate with big data tools and artificial intelligence (AI) technology. The company added that it is working on six apps based on the “independently researched” network, which will relate to finance, gaming, copyright, and data security among others.

Chinese media portal Cnchan.com cited Tan Bai, head of Baidu’s Blockchain Lab, as saying that he expects third parties will pick Xuper Chain to develop blockchain apps. 

Source: cryptovest
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