Search Giant Baidu Unveil Super Chain Compatible With The System of Bitcoin and Ethereum
China’s search giant Baidu has announced its big move on blockchain solutions – Super Chain, a protocol compatible with the development system of bitcoin and Ethereum, and aims at reducing mining energy consumption.
The chief scientist at Baidu’s blockchain division Xiao Wei revealed it at a local conference over the past weekend.
According to Xiao Wei, Super Chain is compatible with the development system of Bitcoin and Ethereum. It can ‘insert and plug’ consensus mechanisms to solve the current energy consumption problem, but also support up to 100,000 concurrent nodes on a single chain.
Based on this Super Chain, Baidu is currently ‘blockchainizing’ its businesses as planned. Its latest blockchain project has seen blockchain be integrated into its online encyclopedia (Chinese version of “Wikipedia”) for copyright protection.
Though no more details were disclosed, Super Chain is highly expected considering its pluggable consensus compatible with both proof-of-work and proof-of-stake mechanism, as well as its capacity of 100,000 transactions per second (tps) while currently bitcoin network is restricted to 7 tps and ethereum 15-20 tps.
As the largest Chinese search engine, known as China’s Google, Baidu has early been making layout on blockchain with solid technical support and a large user base.
In 2016, Baidu showed its interest in blockchain startups by investing $60 million in Circle, a crypto payment solution provider;
In 2017, Baidu Finance launched ABS (Asset-Backed Securitization) project based on blockchain, and later joined Hyperledger, an open source project under the Linux Foundation that counts IBM, American Express, Intel, JP Morgan Chase as premier members;
In January 2018, it rolled out its Blockchain-as-a-Service (BaaS) solution;
In March 2018, it released a cryptokitties-like game, where crypto dogs could be adopted;
In April 2108, it launched “Totem”, a blockchain-based original image property right management platform, in a bid to fight against copyright infringements;
In May 2018, it migrated its “Wikipedia” onto blockchain to guarantee items cannot be tampered with.
And now Super Chain…
China’s dotcom companies are stepping up embracing blockchain, and government support is also on the way with establishment of millions-dollar worth funds for blockchain startups and formulation of industry standards.