Technology

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

Posted on by Minakshi

China’s Chang’an Blockchain Achieves 100,000 TPS, While Japan’s Minna Bank Eyes Solana

China’s Homegrown Blockchain Infrastructure: Chang’an Chain

Beijing’s state media is actively promoting Chang’an Chain, a blockchain infrastructure developed within China. It’s being positioned as a key element in achieving digital sovereignty for the nation.

According to reports, researcher Dong Jin and his team are credited with building this fully open-source and state-backed blockchain solution. Chang’an Chain is now powering various national digital initiatives.

Key Features and Performance

  • After 21 iterations over six years, Chang’an Chain boasts a transaction processing speed of over 100,000 transactions per second (TPS).
  • This benchmark is comparable to the speed targeted by many next-generation blockchains aiming to rival traditional financial networks.

Chang’an Chain is reportedly being implemented in crucial national projects such as China’s nationwide real estate registration system. It also facilitates the digitization of supply contracts, enabling banks to efficiently verify supplier relationships and expedite loan approvals.

Japan’s Minna Bank Exploring Solana for Stablecoin Issuance

Japan’s Minna Bank, a digital bank, is reportedly considering the Solana blockchain for the issuance of stablecoins. This move suggests a growing interest from traditional financial institutions in leveraging blockchain technology for innovative financial solutions.

Summary:

  • China’s Chang’an Chain achieves impressive 100,000 TPS, supporting national digital projects.
  • Chang’an Chain aims to bolster digital sovereignty and streamline processes like real estate registration.
  • Japan’s Minna Bank is exploring Solana for stablecoin issuance, indicating growing blockchain adoption in finance.
Key Takeaways:

  • China is investing heavily in its own blockchain technology, highlighting its focus on digital independence.
  • The reported TPS of Chang’an Chain positions it as a potentially significant player in the global blockchain landscape.
  • Interest from established financial institutions like Minna Bank signals a potential shift towards broader blockchain adoption in the financial sector.
  • The exploration of Solana by Minna Bank suggests the increasing appeal of faster and more efficient blockchain platforms.