BSN-DDC Network Daily Transactions Surpass Ethereum
The BSN-Distributed Digital Certificate (BSN-DDC) Network reached a significant milestone on June 29, 2022, when the volume of transactions on the network exceeded the volume of transactions on Ethereum globally. Officially launched on January 25, 2022, the BSN-DDC Network logged 974,517 transactions in the same 24-hour period last week as Ethereum logged 938,166 transactions. After only six months of operation, the BSN-DDC Network has gained widespread recognition and adoption, with over 900 companies operating their businesses on the network.
The BSN-DDC Network has become widely adopted by businesses in such a short period of time due to a number of key characteristics. First, the BSN-DDC Network is transparent in the same way as public chains but also fully complies with Chinese regulations. The BSN-DDC Network also has a much lower cost structure than alternative networks, offers a choice of over ten different open permissioned blockchain frameworks, and allows users to manage their data and NFTs/DDCs with private keys. The BSN-DDC Network is governed by multiple parties and, in the near future, will offer the ability to build and operate their own nodes.
The BSN-DDC Network’s goal is to provide public infrastructure for blockchain and NFT/DDC technology to support the mass adoption of these technologies across a wide range of industries.
While the vast majority of Ethereum transactions related to cryptocurrencies, the BSN-DDC Network has no connection to cryptocurrencies, and user pay gas fees using fiat currency.
The milestone reached on June 29th demonstrates the desire of mainstream businesses to take advantage of blockchain technology without associating themselves with cryptocurrencies.
While nearly 70 percent of applications on the BSN-DDC Network are related to digital merchandise, there are a growing number of applications across a broad range of use cases, including carbon traceability, ticket management, marketing, privacy protection, and supply chain management.
The early success of the BSN-DDC Network demonstrates the promise of public IT system infrastructures that can revolutionize the entire IT industry. While most of today’s IT systems are private back-end systems, public IT systems offer transparency, efficiency, and can put users back in control of their own personal data.
Please visit ddc.bsnbase.com to view the daily transaction data of the BSN-DDC Network mentioned above via the blockchain explorer of each OPB. Starting July 15, 2022, all transaction information and operational efficiency will be displayed on the official website of the BSN-DDC Network.