Technology

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

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China’s Blockchain Achieves 100K TPS, Japanese Bank Eyes Solana

China’s Blockchain Powerhouse Claims 100,000 Transactions Per Second

China’s homegrown blockchain infrastructure, the Chang’an Chain, is making headlines with claims of achieving a remarkable 100,000 transactions per second (TPS). This development is being touted as a major step towards achieving digital sovereignty within the nation.

Chang’an Chain: A State-Backed Solution

Developed by researcher Dong Jin and his team, the Chang’an Chain is a fully open-source blockchain stack backed by the Chinese state. It’s designed to power various national digital initiatives and address China’s specific requirements for secure and scalable digital infrastructure.

Key Features and Applications

  • High Throughput: The blockchain reportedly handles over 100,000 TPS, positioning it to compete with traditional financial networks.
  • Open-Source: The open-source nature of the Chang’an Chain promotes transparency and allows for greater control over the technology.
  • Real-World Applications: It is currently deployed in China’s nationwide real estate registration system.
  • Supply Chain Digitization: Used by companies to digitize supply contracts, enabling banks to verify supplier relationships and expedite loan approvals.

Japanese Bank Explores Stablecoin Issuance on Solana

In other news from Asia, Japan’s Minna Bank is reportedly exploring the possibility of issuing stablecoins on the Solana blockchain. This move signals growing interest from traditional financial institutions in leveraging blockchain technology for innovative financial products.

Summary:

  • China’s Chang’an Chain claims to have achieved 100,000 TPS, supporting China’s digital sovereignty.
  • The Chang’an Chain is being used in real estate registration and supply chain management.
  • Japan’s Minna Bank is considering issuing stablecoins on the Solana blockchain.
Key Takeaways:

  • China is heavily investing in blockchain technology for national applications.
  • The reported TPS of Chang’an Chain demonstrates the potential for blockchain scalability.
  • Traditional financial institutions in Asia are actively exploring blockchain-based solutions like stablecoins.
  • These developments indicate a significant shift towards greater adoption of blockchain technology in various sectors.