Baidu Joins Blockchain Bandwagon With its Project Xuperchain
China’s search engine giant Baidu has launched the beta variant of its blockchain project Xuperchain. The platform will give a plug-and-play solution for decentralized applications in China and ahead, including the deployment of smart contracts. Previously, it has treated close to half a billion transactions.
With Xuperchain, Baidu intends to make DApps as cost-effective and straightforward as possible, reducing the barrier to entry, particularly for small enterprises. As stated by Chinese crypto news site 8BTC, it will only require developers 1 yuan ($0.14) to use a DApp on the platform, a proposal that will run until March.
According to its website, the platform has 3.5 million users who have made 462 million transactions. The platform supposedly processes 353 transactions per second. It enables developers to create smart contracts and maintain them during their lifecycle, utilizing Solidity and Go.
To clarify the process for developers, it employs parallel chain technology. It’s also fitted with some other blockchains, which is meant to encourage wider uptake.
Baidu, which is regarded as China’s Google, has associated with different institutions on the project, which will host its nodes. They comprise the electric vehicle giant TGOOD, Beijing Internet Court, Peking University, AiBank, and more.
Xuperchain has been under construction since 2018. Since then, it has been employed for a variety of uses, with the storage and transfer of medical records being among the main ones. The network stores medical diagnoses, treatments, drug prescriptions, and more.
This information can then be smoothly accessed by the patients and the doctors as well, reducing the costs and time associated with the process.
Being China’s primary gateway to the internet, Baidu plays an essential role in shaping several industries, especially those in the technology realm. Its blockchain push is thus quite a boost for the technology.
It also comes at a time when various internet giants in China have stepped up their blockchain efforts. These include e-commerce giant Alibaba which is a global leader in blockchain patent applications.
Yet another e-commerce behemoth, JD.com, has also majored on the blockchain, applying for over 200 blockchain patents. The company also has a blockchain research and development lab.
Tencent is also a big player in the space, working on its projects as well as collaborations with the government. The gaming and social media giant is currently developing blockchain invoice standards for leading nations, including the U.K. and Switzerland.