China’s Most Popular Search Engine, Baidu Launches Own Cryptocurrency Xuperchain

China's Search Engine, Baidu Launches Cryptocurrency Xuperchain

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.

Related: China’s State Backed Digital Currency Is Confirmed, Should the United States Worry?

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.”

Xuperchain - Name of New Cryptocurrency Coin By Chinese-Based Search Engine, Baidu

According to released statement, the “Open Networkblockchain 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.

What are your thoughts on Baidu creating its own cryptocurrency coin, Xuperchain? Use the form below to state your opinion. 

More read: Did The Chinese Government Created Bitcoin to Kill the United States Dollar (USD)?

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