Major Chinese internet giant firm Baidu has launched a new blockchain network. The service was created for small and medium-sized enterprises, as well as developers. Baidu intends for the service to make the creation of decentralized applications (DApps)a lot easier for its target market.
The offering is powered by Xuperchain, which is an enterprise blockchain platform created by Baidu.
Directly translated to mean “Open Network” Badiu’s new offering will make blockchain utilization easy for developers and enterprises. Specifically, they will be able to create and launch their own DApps, without worrying about first creating a blockchain. The platform was announced in a report from local Chinese media.
One of the attractions for the developers and enterprises is the cost. Baidu has made sure that the new product is a lot cheaper than existing offerings. With the cost significantly reduced, more of these developers and enterprises would easily enter the blockchain sphere. The company says using the product could cost as little as 1 Yuan (14 cents).
Apart from the reduced cost, the platform is very easy to use. Baidu has made sure that the process of DApp development is considerably simplified. Interested parties can find easy-to-use templates for smart contracts and other offerings.
So far, the Xuperchain network already boasts of almost 3.5 million users. These users have initiated and completed more than 450 million transactions.
Baidu launched a similar product in February last year.