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Chinese enterprise blockchain consortium, FISCO, has created its own blockchain protocol which it plans to launch in November at the Singapore Fintech Festival. The consortium consists of more than 100 organizations including WeBank, Tencent, Huawei, and ZTE. FISCO is the Financial Blockchain Shenzhen Consortium.
The launch announcement is headlined “Challenging Hyperledger Fabric with a Consortium Chain from China”. Hyperledger’s website is published in two languages: English and Chinese.
The open source platform is called FISCO BCOS and plans to be coinless and open to the public. That means a public permissioned blockchain so that only accredited organizations can host nodes, but members of the public can use the functionality. This is reinforced by the consensus mechanism which is Byzantine fault tolerance (BFT).
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