China’s Blockchain Service Network (BSN) announced Wednesday that it has expanded the list of public chains it supports to include Tezos, NEO, Nervos, EOS, IRISnet and Ethereum.
As of August 10, BSN developers will be able to port decentralized apps (Dapps) built on one of the listed chains and use them on BSN for users based abroad. According to reports, BSN aims to expand its support every month by listing 3-5 new public chains. This expansion is in line with BSN’s mandate outlined in its whitepaper: “BSN will continue to adapt for global mainstream consortium blockchainblockchain and public blockchain frameworks.”
“NEO is fundamentally committed to realizing a platform-neutral and fully digitized world to overcome the limitations of our current paradigm. As such, we look forward to overcoming the challenges facing mainstream blockchain while fostering cross-industry collaboration,” said NEO founder Da Hongfei.
Global chain, not ‘Chinachain’
Within China, however, domestic users will be limited to enterprise blockchains, due to Beijing’s restrictions on decentralized public chains that use tokens.
However, there still is value in building the expansion for users abroad. It can be seen as a way for international blockchain companies to create a bridge into the Chinese blockchain industry.
Nervos co-founder Kevin Wang sees the move as a bullish signal for China’s blockchain community to build a blockchain gateway connecting West and East, despite the limitations imposed by Beijing.
Although a Chinese user cannot use a blockchain that also has a token offering, BSN can be seen as a way to internationalize Chinese tech.
“BSN's new public chain integrations will help bolster its global developer community and enable some level of interoperability with Chinese permissioned chains,” Wang said.
What is the Blockchain Service Network?
The Blockchain Service Network describes itself as "a cross-cloud, cross-portal, cross-framework global infrastructure network used to deploy and operate all types of blockchain Dapps."
As Decrypt has previously reported, BSN is financed and built by China’s largest telcos and banks, with nodes connecting over 100 cities across the country. China Mobile and Baidu Cloud are among the infrastructure providers. The network will also have nodes in 7 places outside China: Paris, Sydney, San Paulo, Singapore, Tokyo, Johannesburg, and California.
As we reported in January, China’s long-awaited Blockchain Services Network, aka ChinaChain, was finally unveiled and opened to commercial use yesterday. After 6 months of internal testing, the BSN project was shown off at a virtual press conference Saturday in Beijing. (“Virtual,” because large gatherings are banned due to a possible coronavirus rebound.)
Your correspondent gleefully tuned in from her own quarantine, in Boston. For this week’s da bing, I was searching for clues as to whether, a...
One of the caveats of working with BSN is that the encryption technology used must be developed in China. For instance, Hyperledger is said to be working on a “refined” version of its fabric with a China-developed encryption protocol.
Of course, all this means that there’s no guarantee that the encryption doesn’t come with a backdoor; China requires encryption keys or backdoors to be provided to it on demand.
This story was produced in collaboration with our friends at Forkast, a content platform focused on emerging technology at the intersection of business, economy, and politics, from Asia to the world.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Top college football prospect Matai Tagoa’i is set to join football stars like Russell Okung, Odell Beckham Jr., and Trevor Lawrence by receiving his compensation in Bitcoin.
The linebacker will be paid part of his earnings via the Strike app after signing a “name, image, and likeness” (NIL) deal with the University of Southern California (USC).
The exact details of his package are not known, but some college football players, such as Shedeur Sanders, have received estimated payouts of up to $4....
The world’s largest asset manager BlackRock just debuted a new advertisement proselytizing the virtues of Bitcoin, but rather than cheer on the Bitcoin ETF issuer for its efforts, Bitcoiners aren’t happy.
The video, which is housed on the iShares Bitcoin Trust (IBIT) ETF page on BlackRock’s website, spends three minutes walking viewers through the evolution of money and key fundamentals of Bitcoin.
One of those fundamentals is Bitcoin’s 21 million fixed token supply.
While the video explains t...
El Salvador may have reached a deal with the International Monetary Fund that will see the tiny country scale back its Bitcoin law—but it’s still going to “HODL.” And it might even step up its BTC buys.
That’s according to Stacy Herbert, the head of El Salvador’s National Bitcoin Office, who wrote on X (formerly known as Twitter) Thursday that the country may even continue buying the cryptocurrency at an “accelerated pace” going forward.
El Salvador in 2021 made Bitcoin legal tender along with...