China’s Blockchain Infrastructure Services Provider BSN Adds Casper to Network

Casper is an Ethereum competitor that aims to launch in the first quarter of 2021.

Feb 8, 2021 at 4:35 p.m. UTC
Updated Sep 14, 2021 at 12:08 p.m. UTC

China’s Blockchain-Based Service Network (BSN) announced that it has integrated with the Casper Network, a layer-1 proof-of-stake (PoS) blockchain that forked from Ethereum. 

The integration means the Casper Network will be available to developers on BSN after its mainnet launch in the first quarter of 2021, according to the firm’s press statement, which was shared with CoinDesk. 

The partnership is part of BSN’s efforts to become a global blockchain infrastructure services provider. The state-backed project aims to offer cloud services and a standardized development environment, where decentralized applications (dapp) developers across various blockchain networks can build or run their dapps on the same platform. 

BSN was co-founded by Chinese state-owned telecom giant China Mobile, UnionPay and IT startup Red Date in April 2020. It has integrated some of the most popular blockchain networks, including Ethereum, Cosmos and Palkdot. BSN claimed its inclusive platform can help dapp developers reduce operational costs and improve flexibility with regulatory oversight. 

"Casper is the first fully decentralized, scalable and highly secure proof-of-stake blockchain,” Mrinal Manohar, CEO and co-founder of CasperLabs, said in the statement. “Via our close partnership with BSN, we look forward to helping promote the continued adoption of this important public technology across global markets."

As one of many possible Ethereum competitors, the Casper Network hopes to improve security without sacrificing the scalability as a PoS network. Advised by Ethereum Foundation’s researcher Vlad Zamfir, the Casper Network has raised $14.5 million via a Series A funding round in 2019 from investors such as Arrington XRP Capital and Hashkey Capital. 

CasperLabs partnered with Singapore-based exchange BitMax to launch a token sale for retail investors in March 2020. The exchange predominantly offers trading services to traders in China, Vietnam, South Korea, Russia and India.

“We are confident in both the Red Date and CasperLabs teams to spearhead the adoption of the Casper network and blockchain technology in China,” Omer Ozden, Chairman of RockTree Capital, which invested in CasperLabs’ Series A round, said in the statement. 

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Binance Registers Legal Entity in Italy Amid European Move

Binance recently secured regulatory approval in France as it continues its push into the European market.

Binance recently secured regulatory approval in France as it continues its push into the European market.

CoinDesk - Unknown
2
CoinDesk - Unknown
First Mover Americas: Ether Ends May 35% Down, Altcoins Lose Out

The latest moves in crypto markets in context for May 27, 2022.

The latest moves in crypto markets in context for May 27, 2022.

CoinDesk - Unknown
3
CoinDesk - Unknown
The Crypto Community Says the UK's FCA Is Finally Starting to Listen

The British regulatory agency's first CryptoSprint was focused on digital asset information disclosure, custody and other regulatory obligations.

The British regulatory agency's first CryptoSprint was focused on digital asset information disclosure, custody and other regulatory obligations.

CoinDesk - Unknown
4
CoinDesk - Unknown
Dogecoin Jumps on Elon Musk SpaceX Tweet

The Tesla CEO said merchandise for his space exploration startup could soon be bought using the meme cryptocurrency.

The Tesla CEO said merchandise for his space exploration startup could soon be bought using the meme cryptocurrency.

CoinDesk - Unknown