Chainlink-adoptee national blockchain project from China went live and now there are 135 nodes running as the Zhejian district in China laid the foundation or the Blockchain Service Network. In the latest Chainlink news, we take a closer look at the project.
For starters, 135 nodes are now active in the province that confirms the plan China has for its five-year-plan that features blockchain technology. The Chainlink-adoptee oracles play huge part of the BSN and supply real-time data to the protocol as noted in a press release last month. However, LINK does not feature. Weixin said that the first provincial blockchain “backbone” was launched over the past week in an event attended by the Chinese diplomats and a prominent media organization.
1/ I’ve been informed by multiple sources that China's BSN is going to be integrating with public blockchains, the first of which are @ethereum and @NervosNetwork. This is kind of a big deal. Thread. 👇
— Haseeb Qureshi (@hosseeb) June 28, 2020
The Yuhang District Future Science and Technology City is a tech-forward district in Hangzhou, China that will establish in-depth strategic cooperation with the local firms that will popularize and promote the blockchain-based projects to serve the public. Hangzhou Mobile is one of the partners that indicated there will be some telecommunication-centric blockchain services. Deemed as the “blockchain internet” the backbone is a part of the Blockchain Service Network which is a major Chinese project that seems to bring internet-enabled blockchain services to the general population.
Chainlink’s smart contracts and oracles and Ethereum’s smart contracts were ruled out in China as two of the public platforms it shall use to establish the BSN. BSN established the public city nodes in more than 100 cities in China which makes it the largest blockchain infrastructure network in terms of the government-backed projects. The backbone functions similarly to the Internet in China’s view.
Some promised features that include cross-cloud connectivity and cross-portal blockchain service capabilities. This ensures the steady development of the local blockchain industry and empowers the fast establishment of the upcoming “industrial chain.” Weixin noted that a huge development such as this one is more complicated than the plans suggest considering the multi-city operation with a diverse set of rules and if you add this to the training costs involved in BSN operating, the criticism becomes apparent. Weizin stated:
“Zhejiang Province (…) will become an important milestone in the development of [China’s] blockchain technology and a model benchmark for the construction and operation of provincial backbone networks in the future.”
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