Technology

China’s 100K TPS blockchain, Japan’s Minna Bank eyes Solana: Asia Express

Posted on by Minakshi

Blockchain Developments Across Asia: China’s Chang’an Chain and Japan’s Minna Bank

China’s Chang’an Chain Achieves 100,000 Transactions Per Second (TPS)

China’s state media is actively promoting the Chang’an Chain, a domestically developed blockchain infrastructure, positioning it as a key element in achieving digital sovereignty for the nation. This blockchain platform is gaining traction within China for its performance and potential applications.

A Homegrown Blockchain Powerhouse

According to a profile on Qianlong.com, researcher Dong Jin and his team have developed a fully open-source and state-backed blockchain platform. This platform, known as Chang’an Chain, is now powering various national digital initiatives. While relatively unknown outside of China, it has undergone 21 iterations over six years.

The Chang’an Chain boasts a throughput of over 100,000 transactions per second (TPS). This is a significant benchmark, placing it among the high-performance blockchains aiming to rival traditional financial networks in terms of scalability.

Applications Across Key Sectors

  • Reportedly being used in China’s nationwide real estate registration system.
  • Facilitating the digitization of supply contracts for various companies.
  • Enabling banks to efficiently verify supplier relationships and expedite loan approvals.

Japan’s Minna Bank Exploring Stablecoin Issuance on Solana

In Japan, Minna Bank is reportedly exploring the possibility of issuing stablecoins on the Solana blockchain. This move highlights the increasing interest from established financial institutions in leveraging blockchain technology and digital assets.

Summary:

  • China’s Chang’an Chain boasts a remarkable 100,000 TPS, underpinning national digital projects.
  • Japan’s Minna Bank is considering issuing stablecoins on the Solana blockchain.
  • These developments indicate growing blockchain adoption and innovation across Asia.
Key Takeaways:

  • China is actively developing and deploying its own blockchain infrastructure for strategic purposes.
  • Chang’an Chain’s high TPS could significantly impact various sectors in China.
  • The potential issuance of stablecoins by Minna Bank indicates a growing acceptance of blockchain in the Japanese financial sector.
  • Asian countries are increasingly exploring diverse blockchain solutions to meet their specific needs.