- Vikash Kumar Das
- November 27, 2020
According to the latest announcement, China’s Blockchain-based Service (government-backed initiative) is integrating three more major Blockchain protocols such as Polkadot, Oasis, and Bityaun into its ecosystem.
The announcement was made on Nov.26, 2020 on Twitter’s social media platform, where BSN’s team welcomed all Blockchain protocols into the BSN family. It was stated the integration of these Blockchains will take place on Nov.30, 2020.
Introduced by the Chinese Government, BSN is an information infrastructure where all members share the same public services provided by their Government. The network aims to provide a unique global public infrastructure network in order to accelerate digital commerce.
Polkadot, Oasis, and Bityaun Became Family Members of China’s BSN
In Sept. 2020, it was reported that China’s BSN is adding three more popular public Blockchains such as Algorand, ShareRing, and Solana into its family.
At that time, the network informed that it already onboarded various Blockchains, including Ethereum, EOSIO, Tezos, Neo, Nervos, and IrisNet.
Talking about the recent protocols that BSN has integrated, Polkadot, founded by the Web3 Foundation, is a unique, open-source Blockchain protocol that can connect several specialized Blockchains into a single combined network. It also allows the execution of several transactions on many chains in parallel, taking the network capability to a new level.
Bityuan is a Blockchain solutions provider to Chinese companies that claim to be a stable and scalable network. Moreover, it supports payment, the development of decentralized apps that are enterprise-based and commercial oriented, C2C trading, and digital assets with wallet recovery function, making it an outstanding Blockchain protocol.
Yifan He, CEO of Red Date Technology and executive director of the BSN Development Association stated that Bityuan is gaining a lot of momentum in China. He believes that with this integration, BSN will get developers all across the globe who are excited about building dApps.
Fully backward compatible with Ethereum, the Oasis network specializes in private and scalable DeFi tools. It is a privacy-focused layer-one network created to support DeFi that claims a throughput of thousand transactions per second.
A few days back in November itself, the network completed its mainnet launch, with a promise to facilitate under-collateralized loans in decentralized finance.
As the Government of China is gradually strengthening its Blockchain adoption, the integration of new Blockchain networks is apparently a great milestone in its approach.
Piloted in 2019, the Blockchain-based network rolled out its first set of Blockchains, including Ethereum and EOS, in August 2020, with other networks like Algorand as a part of the second batch. The latest addition that integrates Polkadot, Oasis, and Bityaun represents the third batch of Blockchain protocols supported by the BSN network.