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; Japanese Bank Considers Solana for Stablecoins

China’s Homegrown Blockchain: A Digital Sovereignty Solution?

China’s state media is actively promoting Chang’an Chain, a domestically developed blockchain infrastructure, as a key solution for the nation’s digital sovereignty objectives. The platform is designed to operate independently and support national digital projects without relying on foreign technologies.

Chang’an Chain: Performance and Applications

According to reports, Chang’an Chain, developed by researcher Dong Jin and his team, has undergone significant development over six years, reaching its 21st iteration. It now reportedly boasts a processing capacity of over 100,000 transactions per second (TPS). This benchmark rivals established financial networks.

  • The blockchain is fully open-source and state-backed.
  • It is reportedly being utilized in China’s nationwide real estate registration system.
  • Businesses are leveraging it for digitizing supply contracts, enabling banks to efficiently verify supplier relationships and expedite loan approvals.

Japanese Bank Eyes Solana for Stablecoin Issuance

Minna Bank, a digital bank in Japan, is reportedly exploring the possibility of issuing stablecoins on the Solana blockchain. This move highlights the growing interest in blockchain technology and stablecoins within the Japanese financial sector.

Summary:

  • China’s Chang’an Chain claims to achieve 100,000 TPS, supporting national digital initiatives.
  • The Chang’an chain powers digital infrastructure for supply chain and real estate sectors
  • Japan’s Minna Bank is considering using Solana for issuing stablecoins.
Key Takeaways:

  • China is emphasizing homegrown blockchain technology for data security and digital independence.
  • The reported TPS of Chang’an Chain suggests a significant advancement in blockchain scalability within China.
  • Minna Bank’s interest in Solana indicates increasing adoption of blockchain for financial applications in Japan.
  • The news underscores the growing global interest in blockchain technology, with different countries pursuing varied approaches.