Baidu is seen to be using Blockchain in many of its services. The latest was a solution to the high energy consumed by cryptocurrency mining. Speaking at an event in China, Xiao Wei the chief scientist at Baidu’s Blockchain division has announced a protocol that will resolve issues related to the energy consumed while mining cryptocurrencies.
Baidu is the Chinese equivalent of Google, which has been in the limelight for being one of prosperous IT companies originating from China.
It was incorporated on 18th January 2000 and is headquartered in Baidu Campus in Beijing’s Haidian District.
The new solution by Baidu is called ‘Super Chain’ and is compatible with Bitcoin and Ethereum mining operations. It inserts and removes consensus mechanisms to solve the energy consumption problem and also helps the single-chain support of 100,000 transactions per second.
Baidu is currently in the process of releasing blockchain solutions to its already existing products and services. It is also using Blockchain to provide for new solutions to existing real-life problems. The Blockchain solutions are part of Blockchain-as-a-Service (BaaS) solution initiated by the Chinese technology giant.
In November 2017, the company revealed a service called Baidu Jinkuang which allows users to control unused computer resources for cryptocurrency mining such as GPU’s, CPU’s, hard disk space and RAM.
A few days ago, Baidu’s version of Wikipedia called Baidu Baike was seen to be used Blockchain to record entries’ revision histories. Blockchain will help keep it transparent and traceable. A public announcement has not been made, but a specific hash value is observed to be recorded with every item’s previous revisions.
China is starting to appreciate Blockchain technology and is using it to solve the countless problems the world’s most populated country faces. With such impressions of being Blockchain friendly, there are expectations of the cryptocurrency ban being softened.
At the time of the cryptocurrency tightening laws in China, Baidu removed advertisements related to cryptocurrency. However, it used Blockchain technology for various other solutions. ‘Totem’ used Blockchain to allow users to copyright images while ‘Leci Gou’ was a dog-themed version based on Ethereum of a popular cat breeding game.
Even the Chinese President, Xi Jinping has appreciated Blockchain incorporating it into the ‘new industrial revolution.’
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