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- Blockchain Service Network (BSN) developed by China was deployed for commercial use in October last year as it’s a beta version.
- Developed by BSN Development Alliance, the network covers six continents where developers have the freedom to develop applications anytime they want.
- On 31st July 2020, the international segment of the network will take off to cater to a wider audience.
Blockchain Service Network (BSN) developed by China was deployed for commercial use in October last year as it’s a beta version. A total of 2000 developers tried their hands at the Chinese technology that will soon be a part of every cryptocurrency network. A mix of domestic and international nodes make up for an efficient service network. The network helps complete transactions of digital currencies.
BSN has disrupted the blockchain technology industry on a different level
Developed by BSN Development Alliance, the network covers six continents where developers have the freedom to develop applications anytime they want. It is in the nascent stage but has a following of its own. Services like electronic invoices, item traceability, and welfare charity are easily completed on the network with the help of relevant nodes. It is the country’s first network that will help in the foundation of blockchain applications.
Data authentication via hash codes present in the latest blocks of information help in Smith’s completion of cryptocurrency trades. Citizens have received a major boost as the cohesive system reduces costs significantly. Domestic financial payments will be easily traceable with the inception of the country’s first digital currency.
The BSN International to serve global developers
On 31st July 2020, the international segment of the network will take off to cater to a wider audience. It will be specifically based on the respective country’s openness towards the blockchain network and its modalities. According to a report, 5 public city nodes will be connected with the international network.
BSN China and International have the potential to overtake the current blockchain technology that is in use. DApps can be released at reasonable costs that will empower thousands of industries across continents. Several limitations of the current heterogeneous technology in use will be overcome to carry out transactions efficiently.
The network provides the base for the massive interconnectivity of distributed ledger technology across the world. It is also claimed that SME’s and businesses are set to benefit from the international BSN to expedite transactions at a brisk pace.
