Blockchain Protocol “Super Chain” Announced By Chinese Internet Giant Baidubr>
Chinese search engine giant Baidu has released “Super Chain,” a new blockchain protocol aimed at reducing mining energy consumption.
During the launch event, Xiao Wei, chief scientist of Baidu’s blockchain division, said Super Chain will be “compatible with the development system of bitcoin and ethereum.”
“Super Chain can insert and remove consensus mechanisms to solve the current energy consumption problem,” Wei said. “It also supports single-chain support of 100,000 concurrent transactions per second.”
Wei said that Baidu is currently working on “blockchain transformation” of its own business based on this blockchain protocol, and has already released a blockchain project focusing on copyright protection.
The Chinese search engine giant was an extremely early adopter of bitcoin and blockchain technology. In October 2013, it announced that it was accepting payment in bitcoin for its Jiasule service, which improves websites’ performance, speed and security.
In January of this year, Baidu launched its own blockchain-as-a-service (BaaS) platform. The BaaS platform uses the company’s technology to conduct and trace transactions through use cases ranging from cryptocurrency and billing to insurance management financial auditing.