Chinese state-backed enterprise blockchain, Chang’an Chain or ChainMaker, is starting to take shape. This week Chinese state media reported that the blockchain is underpinned by 1,000-strong clusters of high performance servers and claims to process 240 million transactions per second.
Supporting the development of ChainMaker is an ecosystem of 50 organizations that are mainly state-owned. These include China Construction Bank, the State Grid, food company COFCO and China Unicom, which is using it for 5G services.
In 2021 we reported that 96 core chips powered ChainMaker and it was claimed to support 100,000 transactions per second (TPS) executing them in parallel. Now the figure is 240 million TPS.
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