Cryptocurrency News (Jan. 7, 2020) – China’s government council is not the only entity in China diving into the world of cryptocurrency. Today, the world’s most popular search engine, Baidu announce the launch of it’s own cryptocurrency coin named, Xuperchain.
Baidu’s new cryptocurrency coin
Above all, the new coin, Xuperchain, will be made available for trades and used for payments on Baidu-based websites throughout Chinese territories. The Chinese government has declared the project compliant with the state.
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Baidu’s Xuperchain, released before China’s government bank-centric digital currency was officially launched on January 6, 2020.
The new cryptocoin is hosted on Baidu’s own in-house blockchain technology called “open network.”
According to released statement, the “Open Network” blockchain incorporates the so-called super alliance nodes. It will be available to any Chinese citizens or residents across the country.
The internet giant statements on Xupechain coin
Baidu’s co-founder and CEO, Robin Li hopes Xuperchain coin will be used as payments for purchases in stores and online in Chinese territories and also as applications for businesses.
“[Xuperchain] provides users with an environment for rapid deployment and operation of blockchain applications, and computing. The flexible payment capabilities of resources such as storage and storage directly reduce user deployment and operation and maintenance costs, and make trust links more convenient.”
According to Xuperchain developers, the coin has many advantages over projects vying for the ever-growing crypto market in China. Its autonomous security feature and purchasing power (low-cost payments) cannot be beat.
Also read: Mining Report: Tiny City Outside of China’s Capital Controls 54% Of Bitcoin’s Hash Rate
Programmed with a native blockchain explorer, the network has the ability to process 10,000 transactions every second.
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More read: Did The Chinese Government Created Bitcoin to Kill the United States Dollar (USD)?
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.
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