Who Operates BSN?
Red Date Technolgy Co. supervises the Research and Development (R&D), everyday operation and maintenance. This company is the only surviving member of the original three software companies that founded the government-supported BSN project.
According to Yifan He, the CEO of Beijing Red Date Technology, the three founding companies are China Mobile, China Unionpay and Red Date and they have collectively invested approximately 200 million yuan ($28.5 million) in the BSN project. They have also cut a deal to use two Amazon Web Services (AWS) data centres in China.
“I think nobody has ever heard of it. But actually, in many ways, Red Date Technology plays a critical role in the development of BSN because they are the one who architected the BSN. They are the one who actually created the technology strategy which went up to the [National] Development and Reform Commission. They made that happen.“Michael Sung, a professor at Fudan University’s Fanhai International School of Finance
Currently boasting less than 100 employees, Red Date Technology is a crucial member of the BSN project, along with China Mobile, Unionpay and China’s State Information Centre, therefore the network could possibly carry geopolitical implications. China has embraced the industrial revolution and is now investing heavily in the evolution of the technological revolution.
The importance that China assigns to cloud computing and artificial intelligence, together with their abilities in manufacturing, signifies anticipation about the future and confidence in their place in the evolving world. Potentially BSN will be playing a prominent role in the world of tomorrow.
Blockchain-based Service Network (BSN)
BSN is a Hybrid infrastructure network that has united diverse organisations to create a blockchain-based infrastructure that is cross-portal, cross-cloud and cross-framework. It is a technological hypermarket designed to provide developers with a gateway Application Programming Interface (API) and a Software Development Kit (SDK) to enable deployment and control of various kinds of Decentralized Applications (DApps) economically and efficiently.
“One of the main purposes of BSN is to provide interoperability to all DApps, regardless of whether they are for permissioned chains or public chains. On BSN, each Dapp should be able to call any other Dapps in a very convenient and low-cost way. This collaboration with Chainlink, IRITA, and SNZ Pool will help us achieve this goal and ensure that BSN users reach new levels of security, reliability, and interconnectivity.”Yifan He, CEO of Red Date Technology and BSN co-founder
Chainlink was selected for the Blockchain-based Service Network to be the preferred oracle network to facilitate its applications and smart contracts that access data from outside the blockchain and that will make the applications more useful and connected with the real-world.
Privacy and Security
In the white paper, BSN addressed developers’ privacy concerns.
“Absolutely no private user data is stored on the BSN or within the platform. There is no API to personal private data on the empowerment platform used within portals, and personal information of all developers and DApp users is managed independently by each BSN portal.”BSN white paper
Neo describes itself as an open-source, community-driven platform that is leveraging the intrinsic advantages of blockchain technology to realize the optimized digital world of the future.
In short, Neo could be described as a Chinese Ethereum. It is a rapidly growing and developing ecosystem that has the potential to become part of the foundation of the future development of the internet.
The Neo technology includes:-
- Delegated Byzantine Fault Tolerance(dBFT 2.0), a consensus algorithm with high stability, high transactions by second(TPS) and single block finality.
- NeoVM, a lightweight, cross-platform virtual machine that is expandable to meet future needs.
- Smart Contract. A cross-platform, multi-language smart contract system.
- NeoID. A customizable decentralized self-sovereign identity protocol.
- NeoFS. A distributed object storage solution for on-chain data applications.
- Voting Mechanism. A voting mechanism that enables participation of on-chain governance.
- dual Token. A ground-breaking dual token economic model that optimizes on-chain governance and utility.
- Oracle. A built-in oracle component enabling smart contracts to access external resources.
Chainlink, the world’s preeminent oracle network that operates with companies such as Google and Oracle. Its technology allows on-chain blockchain applications to incorporate off-chain real-world data in a highly secure and reliable manner.
“We’re excited to help build out BSN’s global infrastructure project by providing secure and reliable oracle services. By connecting BSN applications to real-world data, smart contracts can bring new levels of automation and trust to global agreements.”Sergey Nazarov, co-founder of Chainlink
The Nervos Network is an open-source public blockchain ecosystem with a collection of protocols that can solve the biggest challenges facing blockchains like Bitcoin and Ethereum.
The Nervos CKB (Common Knowledge Base) first layer, provides proof of work public blockchain protocol of the Nervos Network. It provides the security, immutability and permissionless (a Nervos expression, presumably meaning not requiring consent) of any crypto-asset to be stored with the nature (in the same way as? Or maybe with the same character as) of Bitcoin while enabling smart contracts. Whilst the second layer scales and captures the total network value through its “store of value” crypto-economic design and native token, the CKByte.
Tezos is an open-source platform for assets and applications that can evolve by upgrading itself. Stakeholders govern upgrades to the core protocol, including upgrades to the amendment process itself.
- Self-amendment allows Tezos to upgrade itself without having to split (“fork”) the network into two different blockchains.
- The decentralised innovation produces an active, open and diverse developer ecosystem that incentivizes contribution to the protocol that will facilitate development and adoption.
- Nodes in decentralized, peer-to-peer networks provide the necessary computational resources that keep the network up and running.
The decentralized ethos of Tezos suggests a good fit for the BSN project
Launched in 2017, EOS is already widely recognized as the first performant blockchain platform for businesses across the world. Eosio is a next-gen, open-source blockchain protocol that has excellent industry-leading performance speed as well as being a highly flexible utility.
Ethereum is a global, open-source platform for decentralised applications. It is arguably the most valuable cryptocurrency on the planet. Ethereum is accessible by everyone that has a (crypto) wallet and provides open access to digital money and data-friendly services for everyone regardless of background or location. An internet connection is all that is required to receive access to Ethereums financial services.
The Ethereum application doesn’t demand a dossier of personal information, no government or company has control over Ethereum. Decentralisation prevents interference of financial transaction or the use of Ethereum services. Ethereum is building an economy based on value, not control.
Ethereum presents reliable, decentralised financial services to everyone. It provides an environment to secure financial transactions or create agreements with individuals or companies without intermediaries.
Ethereum is a part of the new world. A world that rejects being controlled by authorities, a world that is decentralised and open-source, a world that promotes innovation. A world that is progressive and encourages entrepreneurship.
IRISnet is an interchain service hub for the next-generation if distributed applications and its consortium blockchain product is named IRITA (see below).
Built with Cosmos/IRIS-SDK, IRISnet facilitates cross-chain interoperability through a consolidated service model.
“BSN has an ambitious plan to provide a standardized, nationwide public infrastructure network supporting most efficient blockchain development and deployment. Chainlink is the industry-leading Oracle solution provider. It is our great pleasure to support BSN vision and work on the integration of Chainlink and make the oracle service easy to use by all the blockchains on BSN, through a standard service interface which supports cross-chain interoperability.”Harriet Cao, co-founder of IRISnet
The IRITA Network is a consortium blockchain product built using the Cosmos/IRIS SDK. The IRITA interchain service hub is at the centre of the BSNetwork. This service hub will allow integration of Chainlink into the Blockchain-based Service. Allowing the BSN blockchains to receive external off-chain data through Chainlink oracles.
BSN has partnered with Cosmos through IRITA, a Shanghai-based blockchain firm supported by Cosmos’ technologies. The firm claims to be the first consortium blockchain ready for production in the Cosmos ecosystem.
SNZ SNZ Pool is a professional POS operator and provider dedicated to providing professional Proof of Stake (POS) mining pool services. We are committed to minimizing the complexity of working as a POS validator, and to maximizing the stability and security of running a POS validator. Since 2018, we’ve been running nodes for over 20 major POS projects. We aim to make the POS validator as easy as possible.
A working prototype that demonstrates the value of Chainlink oracles through the IRITA interchain service hub to BSN applications is already underway. BSN and SNZPool have also allocated resources to support the creation of the node infrastructure to run the Chainlink and IRITA nodes.
Fisco Bcos is an open consortium chain platform designed to facilitate partnerships and inspire collaboration amongst businesses. It enhances user experiences, it increases collaboration effectiveness and significantly reduces the associated costs and risks.
Hyperledger Fabric is distributed ledger software that has been designed to be a framework for developing applications or solutions with a modular architecture. It contributes a unique approach to a consensus that allows performance at scale while preserving privacy. It’s modular design and versatility satisfies a broad range of conditions.
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