Baidu - A Popular Chinese Web Giant Introduces Its First Blockchain White Paper.

Baidu - A Popular Chinese Web Giant Introduces Its First Blockchain White Paper.

2018-09-27 | Selina Mathew

Baidu - A Popular Chinese Web Giant Introduces Its First Blockchain White Paper.

Baidu which is a popular Chinese search engine and internet services company has recently revealed the Baidu Blockchain white paper v1.0 on 26th Sept., that describes a Super Chain network system.

Baidu Blockchain Lab revealed the blockchain targeted white paper on the freelance development of the Super Chain network system. The technical paper introduces the concept of commercializing the Baidu cloud blockchain blockchain-as-a-service (BaaS) platform additionally to 6 applications supporting the Super Chain; Totem, Degree Universe, Baidu Association, Treasure chest, Encyclopedia on-line, and Hubert.

As per the technical report, Baidu’s Super Chain is a lot more economical than a standard blockchain in terms of hardware utilization. In line with this new development, Baidu’s Super Chain nodes use multi-core parallel computing to maximise mainframe utilization and increase output.

The Super Chain as introduced by the company is stereo network that supports parallel sidechains. There's a root chain, that manages parallel chains and also the operative tips of the complete network, that supports information exchange with every chain.

The Super Chain operates on what's dubbed as a pluggable agreement mechanism. At intervals, the Super Chain Network permits completely different parallel chains to decide on their own agreement mechanisms. It conjointly supports agreement step-up through a balloting mechanism.

The technical paper further states that Baidu can specialise in applying the technology in food safety, product quality, new retail, new manufacturings, providing chain finance, property possessions and commerce, travel, touristry and social networking.

Modular services with the Baidu Super Chain can embody eventualities in certification, digital rights, clearing and settlement, provide chain finance, digital assets, and games.

Earlier in June, the giant web search engine also revealed its Super Chain protocol within the context of reducing energy consumption in cryptocurrency mining operations.

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