Chinese technology giant Baidu announced yesterday the issuance of its own digital currency, named "Xuperchain", according to some local reports.
The network operates from within China and uses a series of major Master Nodes to operate the network, which suggests that it is decentralized.
According to the worksheet, the network on which the new currency is based is able to support more than 10,000 transactions per second. The worksheet also states that "Baidu" has more than 50 blockchain patents. The basic code for Xuperchain was launched in May last year.
It can be viewed on the GitHub website, Xuperchain also has its own blockchain explorer where you can look at the transactions made on the network.
The Xuperchain project is designed to support blockchain-based applications, similar to the work of Ethereum.
The Xuperchain project worksheet says its role is to help modernize China's governance capacity, and the project also wants to help China jump and compete with other countries in developing blockchain technology.
Through the National Five-Year Plan for Informatics 13, which was written in 2016 and included the blockchain.
The launch of the Xuperchain blockchain comes a period after Chinese President Xi Jinping delivered a speech to develop blockchain technology and how he hoped China would be at the forefront of its development.