On Sunday, Baidu, the company behind China's popular search engine, announced it was releasing a blockchain platform dubbed "Super Chain" in hopes of decreasing the amount of energy required to mine cryptocurrency.
During the small conference, Baidu's chief blockchain scientist, Xiao Wei, claimed the Super Chain will help solve the energy problems connected to crypto mining by inserting and removing consensus mechanisms, such as nodes. Xiao also stated that Super Chain is compatible with the Ethereum and Bitcoin ecosystems and can handle 100,000 transactions per second.
Although Xiao refrained from revealing too many details, he did mention that Baidu is in the middle of drastically changing its entire business model, and Super Chain is central to that transformation.
China's relationship with the cryptocurrency and blockchain industry has been inconsistent at best. From the government's ICO ban and temporary suspension of cryptocurrency trade to the president's praise of the innovative and groundbreaking aspects of blockchain technology, the industry has seen its ups and downs in the country. But Baidu seems to always be one of the most consistent champions of this new technology.
In October 2017, ETHNews reported that Baidu confirmed its interest in blockchain technology by partnering with Hyperledger. In January of this year, Baidu announced the development of the blockchain-as-a-service platform Baidu Trust, which is used in the financial sector. Last April, Baidu launched the blockchain platform Totem, which helps photographers protect themselves from copyright infringements.