CasperLabs to become blockchain of choice for the City of Fuzhou, China

0
144

On Friday, CasperLabs, a blockchain software company, announced a partnership with China’s Blockchain-Based Service Network, or BSN. Under the agreement, which was touted as a non-fungible symbol, or NFT, as a memorial, the Casper network will be added as the blockchain for the Fuzhou city network for use in the development of the region’s public and private digital currency. infrastructure – called “Fuzhou Network Powered by Kasper”. RockTree Capital, a New York-based investment company, has helped build a bridge between Casper and Fuzhou.

As stakeholders have stated, the main goal of the partnership is to allow BSN to take advantage of Casper’s scalability, security and decentralization, and to use the Open Blockchain Protocol or OPB to eliminate the need for cryptocurrencies for payments. Gas fee. Since its launch in 2019, BSN has expanded to over 120 public city nodes across China, and acts as data centers that manage and process transactions on their end-to-end blockchain networks.

Mrinal Manohar, co-founder and CEO of CasperLabs, said of the development:

By partnering with Casper, BSN benefits from the scalability, security and decentralization that Casper offers. The use of OPB precludes the use of cryptocurrencies to pay for gas. Together, this makes it easier for developers in and around Fuzhou to build public and private blockchain applications at a lower cost.

Source: CoinTelegraph

LEAVE A REPLY

Please enter your comment!
Please enter your name here