Chinese search giant Baidu has officially released a white paper through its new Blockchain Lab for its proposed XuperChain network.
The company claims XuperChain will support more than 10,000 transactions per second through inter-chain parallel technology and a stereoscopic network, according to the white paper. The nodes of XuperChain use multi-core parallel calculations, maximizing the work of processors, and employ sidechains to speed up the network.
While Baidu has more than 50 patents for XuperChain and maintains 100 percent ownership of the intellectual property, the white paper notes that the software itself will be open surce.
Chinese news outlet Cnchan.com quotes Tan Bai, chief architect of Baidu and director of the Blockchain Lab, as saying he hopes third parties will choose to build on the XuperChain network.
Baidu also reports that it has already launched an array of applications based on its blockchain, including an image rights management system named Baidu Totem, an education certification platform Baidu Huixue, where users' CV is created by AI, and a space journey game app Duyuzhou (The Universe). This May, Baidu Baike, China's equivalent to Wikipedia, has started utilizing blockchain to track amendments to its articles.
In August, Baidu's blogging platform Baidu Tieba blocked the "digital currency" and "virtual currency" sub-forums following the China's crackdown on ICOs.
Editor's note: some of the statements in this article were translated from Chinese.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.