China Launches 1000 Server Network for Processing 240mln Blockchain Smart Contract Trades Per Second February 3, 2023 February 3, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsFebruary 3, 2023 by Kelly Cromley

China Launches 1000 Server Network for Processing 240mln Blockchain Smart Contract Trades Per Second

China’s desire to document government and business activities on a blockchain now has a new engine: a network of 1,000 servers in Beijing designed to process 240 million smart contract transactions per second.

The device is noteworthy for 2 purposes. This apparatus utilizes homemade technology. The cluster is connected to ChainMaker, a blockchain platform built in China that has been committed to and/or accepted by large Chinese businesses and government organizations. In addition, ChainMmaker claims to have invented 96-core silicon intended to expedite blockchain activities. The Beijing Academy of Blockchain and Edge Computing, believed to be the architect, earlier declared that it has created petabyte-scale storage solutions.

With the United States paving the way in prohibiting high-tech exports to China, these rigs demonstrate Beijing’s capacity to construct large and complicated objects. The chief factor is that this setup proves that Beijing’s ambition to utilize blockchain technology extensively is genuine and operational.

As reported by the state-controlled mainstream press, the cluster will be utilized to safeguard and document trades across 80 departments, 16 districts, and organizations in the areas of transportation, funding, and telecommunication services, and to guarantee the movement of data back to Beijing to realize the “efficient coordination of the governance model.”

And on a significant scale, indicating that China will make smart contracts an integral component of its corporate environment. It would be expected in a single-party state that maintains tight control over economic growth and closely monitors the functioning of organizations.

The gear is probably among the most powerful blockchain installations on Earth, which will inspire supporters of the technology. Anticipate them to encourage its usage and to differentiate their activities from the vile hive of filth and deviousness that has infiltrated the bitcoin sector.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.