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  4. BSN Provider of Blockchain Infrastructure Services Adds Casper to Networ

BSN Provider of Blockchain Infrastructure Services Adds Casper to Networ

christinamilinyte
2022-10-27 10:23:17

BSN Provider of Blockchain Infrastructure Services Adds Casper to Networ

Post Reply  
ErikVoorhees
2022-10-27 10:33:20

China's Blockchain-Based Service Network (BSN) has announced that a layer-1 proof-of-stake (PoS) blockchain forked from Ethereum has been integrated with the Casper Network.

According to the company's press statement, which was shared with CoinDesk, the integration means the Casper Network will be accessible to developers on BSN after its mainnet launch in the first quarter of 2021.

The partnership is part of the efforts made by BSN to become a global supplier of blockchain infrastructure services. The state-backed project aims to provide cloud services and a standardized environment for development, in which developers of decentralized apps (dapp) across different blockchain networks can build or run their dapps on the same platform.

In April 2020, BSN was co-founded by Chinese state-owned telecom giant China Mobile, UnionPay and Red Date, an IT startup. Some of the most popular blockchain networks, including Ethereum, Cosmos and Palkdot, have been integrated into it. BSN argued that its inclusive platform can assist dapp developers to reduce operational costs and improve regulatory oversight flexibility.

The Casper Network hopes to improve security without sacrificing scalability as a PoS network, as one of many possible Ethereum competitors. Advised by researcher Vlad Zamfir of the Ethereum Foundation, the Casper Network raised $14.5 million from investors such as Arrington XRP (+9.19 percent) Capital and Hashkey Capital via a Series A funding round in 2019.

CasperLabs partnered with BitMax, a Singapore-based exchange, to launch a retail investor token sale in March 2020. The exchange predominantly offers trading services to traders in China, Vietnam, South Korea, Russia and India.

In the statement, Omer Ozden, Chairman of RockTree Capital, which invested in CasperLabs' Series A round, said, "We are confident that both the Red Date and CasperLabs teams will spearhead the adoption of the Casper network and blockchain technology in China."