Fun

BSN and TON Labs to Provide Chinese Developer Community With Unique TON Technology

News Feed - 2021-03-02 07:03:25

BSN and TON Labs to Provide Chinese Developer Community With Unique TON Technology sponsored


Thanks to TON Labs, BSN will now be able to produce real-life applications that require a scalable backend and use cases in compliance with China’s regulatory framework while still using an inherently decentralized network to do so. China’s Developers Gain Access to TON Technology


China’s Blockchain-based Service Network (BSN ) and TON Labsannounced today that they have struck a partnership agreement to p r ovide China’s developers with access to TON Technology through BSN’s Open Permissioned Blockchain (OPB) Initiativein order to build applications and create use cases in compliance with Chinese regulatory demands.


OPB Initiative is designed for public chains to enter the Chinese market legally. It makes public chains regulatory compliant by removing the mechanism of using cryptocurrencies to pay for gas fees and offering permissioned controls over node deployment.


The TON protocol, originally developed by Telegram, was ultimately abandoned by its founders back in April of 2020 due to regulatory pressure, in effect creating a chasm for millions who believed in the project. Thankfully, a diverse group of active supporters came together to launch the network as a community-driven project. TON Labs became one of the many initiators from a group of top-tier developers and validators who helped launch that network as Free TON.


Free TON has no investors, no registered entity, and never had a token sale of any sort, making it a people’s blockchain run entirely by a community of developers, validators and promoters from around the world that receive tokens (TON Crystals as the native token) on a meritocratic basis as rewards for winning contests that add value to the community, and as part of collaborations with partners that similarly bring value.


TON is a Proof-of-Stake, multithreaded, low latency, almost infinitely scalable blockchain with large throughput, making it ideal for real world applications and business cases. The TON protocol itself is arguably the most versatile smart contract platform to date. TON Labs made the network accessible through high level languages such as C, C++ and Solidity, as well as through a set of developer tools that make it easy for anyone to build on. These tools are readily available for developers based on their signature TON OS product with its developer suite of SDK and Solidity compilers, as well as decentralized certificates that are out-of-the-box. Win-Win for All


With Chinese developers eager to get their hands on this technology while under certain prohibitive circumstances, specifically an inability to transact via cryptocurrency, BSN turned to TON Labs for a solution for in-country realization. As a result, BSN will now be able to produce real-life applications that require a scalable backend and use cases in compliance with China’s regulatory framework while still using an inherently decentralized network to do so. In short, China can now use a for-all permissionless blockchain in a way that conforms to its own legislative mandates. The parent network will benefit from what new developers can bring to it, while the Chinese community will benefit from what TON provides technologically. Win-win for all.


Cyril Paglino, CEO of TON Labs stated:


“What we have here is a small step toward a giant leap that will build bridges between the decentralized and centralized worlds in a way where everyone gains. It’s a creative approach to send a strong message that a company, a country, a people, even when facing certain statutory hurdles, can still find a way to use technology earmarked for everyone on the planet despite whatever localized mandates there may be, and while remaining in total compliance, vis-a-vis, adoption.”


Yifan He, CEO of Red Date Technology and Executive Director of BSN Development Association, stated that:


“We are very impressed with the actual performance of TON technology on throughput, speed and latency, which opens up opportunities for use cases that require higher levels of scalability. BSN sets the stage for TON Labs to enter the Chinese market to provide its technologies and services to Chinese enterprises and developers legally. I am sure that the addition of TON will lead to a more thriving OPB ecosystem in China. We look forward to seeing great dApps to be built on this OPB.”


The BSN is a cross-portal, cross-cloud, and cross-framework global infrastructure network used to empower developers and companies to create, deploy and manage next-generation decentralized applications (dApps) more efficiently, conveniently, and at low cost across multiple different protocols under a uniform standard. The BSN was j ointly initiated by four founding partners, namely the China State Information Center, China Mobile, China UnionPay and Red Date Technology.


This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. PTERIA to Mars Celebrates a New All Time High SPONSORED | Feb 23, 2021 CyberFi - An Intelligent Trading and Automation Platform for DeFi SPONSORED | Feb 22, 2021 Tags in this story BSN, ton, TON Labs


Image Credits: Shutterstock, Pixabay, Wiki Commons Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimer

News Feed

KuCoin says user assets are unaffected by US SDNY indictment
Zhiyuan Sun6 hours agoKuCoin says user assets are unaffected by US SDNY indictmentThe crypto exchange is the seventh largest by 24-hour trading volume.5609 Total views18 Total sharesListen to article 0:00NewsOwn this pie
Bitcoin Dominance Holds Altcoin Season At Bay, Analyst Says No Upside Until This Happens
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Stellar (XLM) Chart Signals Major Rally —Is A 330% Surge Coming?
Este artículo también está disponible en español. The Stellar (XLM) market has registered a price boost in the past day gaining by 10.77% according todata from CoinMarket
Ezra Reguerra13 hours agoRipple lawyer urges fact-check of Gary Gensler’s speech, says SEC actions seen as ‘shady’SEC Chair Gary Gensler shared a speech on X, triggering heated reactions across the crypto community
Dogecoin Drama Ends: Investors Drop Elon Musk Lawsuit Appeal
Este artículo también está disponible en español. A lawsuit claiming that Tesla’s Elon Musk rigged Dogecoin to benefit his company has ended. Related Reading Solana Ris
Pro-Bitcoin US Lawmaker Cynthia Lummis Joins Senate Banking Committee, Plans to Convince Janet Yellen BTC Is Great Store of Value
Pro-Bitcoin US Lawmaker Cynthia Lummis Joins Senate Banking Committee, Plans to Convince Janet Yellen BTC Is Great Store of Value Pro-bitcoin U.S. Senator Cynthi
Gov. Tim Walz accepted — and returned — $4K donation from FTX exec
Turner Wright5 hours agoGov. Tim Walz accepted — and returned — $4K donation from FTX execNishad Singh and Sam Bankman-Fried contributed to the campaigns of two Minnesota policymakers mere days before FTX’s collaps
Hacker Steals $6.9 Million From Arbitrum-Based Defi Protocol Lodestar Finance
Hacker Steals $6.9 Million From Arbitrum-Based Defi Protocol Lodestar Finance Arbitrum-based lending platform Lodestar Finance was exploited on Dec. 10, 2022, according to a tweet
Asia’s Largest Web3 Event TOKEN2049 Exclusively Unveils NFT Assets Valued Over US$100 Million
Asia’s Largest Web3 Event TOKEN2049 Exclusively Unveils NFT Assets Valued Over US$100 Million press release PRESS RELEASE.SINGAPORE — 25th September 2022 —TOKEN2049,
Osprey ready to sunset its OTC Bitcoin trust by sale, merger or liquidation
Derek Andersen2 hours agoOsprey ready to sunset its OTC Bitcoin trust by sale, merger or liquidationOnce the tiny competitor to Grayscale’s GBTC, Osprey is trading at a discount and ready to take extreme measures for r
Crust Network Launches Crust Storage Market, Decentralized Cloud Service Built on Polkadot
Crust Network Launches Crust Storage Market, Decentralized Cloud Service Built on Polkadot PRESS RELEASE. One of the star projects of the emerging Polkadot ecosy
Sharktron Defi Project Devs Exit Scam: Tron Foundation Says Part of Missing Funds Now Frozen
Sharktron Defi Project Devs Exit Scam: Tron Foundation Says Part of Missing Funds Now Frozen Developers of the Sharktron defi project have exit scammed with repo