Countdown to one week! China's "national blockchain platform" is about to launch, with Ethereum and EOS also included.

China has recently made significant advancements in blockchain technology, with the establishment of a blockchain committee in collaboration with Tencent, Baidu, and the central bank, as well as the Blockchain Application Innovation Industry Alliance. The testing phase for the country's digital currency (DCEP) is currently underway. A "national level blockchain platform" is set to be officially launched on April 25th, as stated in the whitepaper. The platform will also include top public chains such as Ethereum and EOS within its interoperability scope.

• Blockchain Service Network Whitepaper
• 100 public city nodes have been established

BSN Supports Multiple Underlying Frameworks

China's national blockchain platform, the Blockchain-based Service Network (BSN), is set to launch on April 25th. The whitepaper claims that BSN is a global infrastructure network for deploying and running various blockchain applications, spanning across clouds, portals, and underlying frameworks, with the ultimate goal of becoming a major network for blockchain.

Key participants include the "National Information Center's Department of Informatization and Industrial Development," which previously organized the Blockchain Committee, as well as major enterprises such as China Mobile, Red Date Technology, and China UnionPay. The advantages and features of BSN include:

• Lowering the threshold for blockchain development
• Providing flexible deployment methods
• Having a mechanism for rapid network formation
• Increasing user convenience in participating in blockchain
• Saving costs in deploying and running blockchain applications

The CEO of Huobi Group, Leon Li, commented:

BSN aims to unify the currently fragmented blockchain infrastructure. It is a public network that is cross-cloud, without entry and framework restrictions, allowing developers to easily and cost-effectively develop, operate, and maintain both licensed and unlicensed blockchain applications and nodes.

ETH, EOS Surge by 10%

The whitepaper states that BSN's goal is to reduce the cost and complexity of developing blockchain applications. Developers can use various enterprise-level blockchain protocols, supporting both consortium chains and public chain underlying frameworks. Currently, BSN supports Hyperledger Fabric, with compatible consortium chain frameworks including Fabric Guomi, FISCO BCOS, CITA, XuperChain, Wutong Chain, and Brochain. Public chain frameworks such as Ethereum and EOS are also supported.

At the time of writing, the mentioned ETH and EOS have surged by 12.12% and 10.31% respectively as indicated in the whitepaper. Ethereum is the cryptocurrency with the highest surge among the top ten coins in the past 24 hours.

This new version of the whitepaper was released in February this year, possibly overlooked due to the impact of the coronavirus epidemic. Currently, the service network has established nearly 100 public city nodes in China. It is expected that by the end of 2020, there will be around 200 public city nodes. From the current promotional efforts, it is evident that China is sparing no effort to become a leader in the blockchain field.