The Blockchain-Based Service Network (BSN), state-sanctioned blockchain infrastructure project, recently launched its English-language website for international decentralized applications (dapp) developers. It’s truly a momentous development.
This is a revolutionary step by the country to make the BSN a global powerhouse in the coming years. It has been reported that developers will be able to build apps that run on nodes in either permissioned blockchains or major public chains in a global iteration of the network.
According to Coindesk, available permissioned blockchains include Hyperledger Fabric and FISCO-BCOS , which is patented by digital banking company Tencent’s WeBank. Right now, there are six major public chains available on the network, i.e. Ethereum, EOS, Tezos, NEO, Nervos and Cosmos’ IrisNet.
The BSN has earlier mentioned that its one of the few cross-chain infrastructure networks where developers can use the internet’s services within the network for different blockchains under a standardized development environment. This is nothing short of amazing.
Its founding members include the State Information Center, China Mobile, China Union Pay and Red Date Tech. The cloud service providers that are in the BSN ecosystem include China Mobile, China Telecom, Baidu AI Cloud, AWS and Google Cloud. Their technical partners include DAML and dfuse.
The following are excerpts from the main site.
The BSN aims to solve the high-cost problem of blockchain DApp deployment and maintenance by providing a public resource environment and one-stop shop solution for developers.
For example, for a 3-peer Fabric DApp with 10 TPS and 10GB storage, it only costs about 20 dollars per month to deploy on the BSN.
For public chain services, it only costs as low as 20 dollars per month to access all public chain nodes on the BSN with 40K requests per day.
The BSN is blockchain-specialized cloud environment that has unified CA management, gateway APIs, smart contract SDKs, and even encryption algorithms for permissioned frameworks, as well as has stacked all public chain nodes together for easy access.
Inside such an environment, it is much easier to achieve interoperability among all DApps deployed on the BSN.
They will launch an “Interchain Communication Hub” with help of IRITA and Chainlink to provide interoperability and oracle services in October 2020.
For every permissioned Dapp on the BSN, it requires two certificates for off-BSN systems to connect and invoke its smart contracts: Dapp Access Certificate and User Transaction Certificate.
Both certificates’ keys can be generated locally, and the public keys are uploaded to the BSN to generate the certificates. DApps on the BSN are very secure with two sets of private keys.
The BSN integrates as many public chains as possible so that developers can easily and freely access all public chain nodes with one gateway and one monthly plan as low as 20 dollars.
According to Brian Behlendorf, executive director of HyperLedger, he believes that China’s investments in blockchain and information technology could result in the country creating a “global blockchain with Chinese characteristics.”
In an interview with Forkast.News, he feels that China knows that blockchain technology is not just enabling, but transforming its ability to leapfrog other countries in the establishment of trustworthy information systems and trustworthy economies.
Apparently, according to reports, Hyperledger is collaborating with China’s Academy of Information and Communications Technology (CAICT) and other academic and regulatory agencies to help educate them about blockchain in the hope to accelerate adoption rates.
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Anil started his career in journalism all the way back in 2003. After traversing the sphere of editorial, corporate communications and advertising, he has now come full circle and is back in the world of journalism. He believes in the power of the written word, and its ability to enthrall, delight and inform the reader.
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