Will Ethereum be integrated into the Chinese crypto currency
China wants to become a global economic power through the blockchain initiative
China plans to become the world's leading economic power through the Blockchain Service Network (BSN). The project started in 2019 and opened to the international blockchain scene in July 2020. The adaptation and dissemination of the BSN is to be promoted quickly through easy access for developers on an international level.
At the end of November last year, more cryptocurrencies were integrated into China's largest blockchain initiative BSN: Polkadot, Oasis and Bityaun. This is intended to further expand the Blockchain Service Network (BSN) supported by the Chinese government.
Polkadot's blockchain protocol allows several specialized blockchains to be merged into a unified network. In addition, this enables the processing of numerous transactions on multiple parallel chains, which enables a higher transaction throughput to be achieved. The integration of the cryptocurrency enables the Polkadot developers to join BSN's Open Permissioned Blockchain Initiative.
Oasis specializes in private and scalable blockchain solutions that are intended to make the financial market more equitable and decentralized. The main focus of the project is on providing sufficient compatibility. Other well-known blockchain projects are Ethereum, Tezos, Neo, EOSIO and IrisNet, which were integrated into the BSN ecosystem at the beginning of the year. The aim of the BSN is to provide a centralized blockchain framework that leading companies worldwide can use.
In the blockchain showcase region Mittweida, projects are funded that pilot blockchain technology in their own company. This is intended to attract and relocate companies in the Mittweida region. A prominent example of this is Blockchains LLC (formerly Slock.it), which is known in international circles. Interested companies can get an overview at www.blockchain-mittweida.com.
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