ChainMaker (blockchain cluster)

2023: Blockchain cluster launch capable of processing 240 million smart contract operations every second

In early February 2023, it became known that a large-scale blockchain cluster was launched in Beijing, capable of processing 240 million operations on smart contracts every second.

The cluster has approximately 1000 servers. It is associated with ChainMaker, a Chinese blockchain platform that is used by many large private and state-owned enterprises in the PRC. ChainMaker is talking about developing a specialized 96-core processor designed to speed up blockchain transactions. Beijing Blockchain and Peripheral Computing Academy, which is considered the designer of the new platform, previously announced the development of a petabyte-scale storage system.

China launches giant blockchain cluster capable of processing 240m smart contract operations every second

Against the background of US sanctions, the implementation of such projects proves that China is able to deploy complex and high-performance IT systems on its own. In addition, this initiative confirms the PRC's desire to widely apply blockchain solutions in various areas of the country's activities.

The new blockchain cluster will be used to protect and record transactions in 80 Chinese departments in 16 counties. The system is planned to be applied in areas such as transport, finance and telecommunications. The platform is expected to allow Beijing to achieve more effective coordination of the management system. It is also said that China is going to make smart contracts an important part of its business environment.

The platform will provide transactions in a number of industries, including travel, online shopping, hospital registration, financial settlements between enterprises, cooperation with the government and much more. However, concerns are also raised that the cluster could be used to accumulate information about organizations and ordinary users.^[1]

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