What is BSN(Blockchain-based Service Network)? #2
What is BSN?
As I mentioned before, The BSN is a one-stop shop for DApp developers to deploy and manage any permissioned or permissionless blockchain applications. We have built entire operating environments and shared nodes on BSN’s public city nodes (PCN) around the world.
Is BSN related to cryptocurrency?
Answer is No. People can be confused because BSN admit some of blockchain concepts of cryptocurrencies like Ethereum, Solana and Polkadot. However, we should remind it BSN is a just framework for DApp and blockchain developers.
BSN is the government-blessed framework being developed in China for blockchain developers. The network can already support decentralized applications (dapps) or tools built on 15 public blockchains. Red Date claims that it offers developers access to blockchains, both inside and outside China, at a cheaper price.
Is BSN International different from BSN China?
The BSN-International chain, which is the new offshoot, will be headed by one of the original members of BSN, a private firm called Red Date Tech, and will not be able to execute any operational strategies of its own accord without the prior approval of BSN-China. Providing his thoughts on the matter, Yifan He, the founder and CEO of Red Date Tech, said the network remains a single entity with the latest decision being a step forward: “In China, there is a clear regulatory restriction on the deployment of public permissionless blockchain networks.
“Since the BSN is meant to be a global interoperability network, it must comply with these rules in China but also be flexible enough to accommodate other blockchain ecosystems such as public chains internationally.”
As previously reported, a source closely associated with the situation said the pushback emanated from BSN’s core, state-owned members — namely China Mobile Communication Corporation and China Union Pay — being opposed to the idea of public chains becoming a part of the network.
Current Stance of BSN
Domestically, the BSN has already grown to over 120 public city nodes attracting development and use by small to large scale enterprises, and government.
Internationally, the BSN has expanded through partnerships with a handful of the leading global blockchain protocols and consulting firms including Ethereum, Polkadot, the former JPMorgan unit Quorum (now part of ConsenSys) and even Ernst & Young.
These integrations will enable a new global blockchain infrastructure that also solves for many of the congestion and high transaction fee issues plaguing the most used blockchain (Ethereum). These pain points have been most exposed by decentralized finance (DeFi) applications and they are driving some major users away. This could be similar to when mobile phone users who were accustomed to their BlackBerry handsets eventually ditched them in favor of various brands of touchscreen smartphones.
Source : 101blockchain(https://101blockchains.com/bsn-blockchain/), Asiatimes(https://asiatimes.com/2020/07/what-bsn-split-means-for-chinas-global-reach/), Coindesk(https://www.coindesk.com/policy/2021/04/29/what-chinas-blockchain-services-network-means-for-the-world/)
