China's Blockchain-based Service Network (or BSN) is expanding its network to include three other well-known public blockchains.
Red Date Technology CEO He Yifan told Cointelegraph that the BSN is now in its second stage, which aims to integrate more public chains. It will also include ShareRing, Algorand and Solana. The network announced earlier last month that it had already incorporated Ethereum, EOSIO and Tezos as well as Neo, Nervos and IrisNet.
Cointelegraph was told by him that the networks select public chains to integrate. They focus on creating ecosystems and creating strong user cases to solve real world problems.
He stated that the long-term vision of the network is to deploy all types blockchain-based distributed apps, or DApps, and to operate them all. He believes this will lower the cost of building and deploying all DApps and that it could eventually lead to interoperability between all permissioned and non-permissioned chains. He explained:
"Integrating Public Chains means that we install public-chain mainnet nodes as well as testnet nodes on Public City Nodes. (PCN) These are not chains nodes but BSN data centres. This allows developers to access all nodes in all public chains through one gateway and one monthly plan. The cost of connecting to public chains drops to nearly zero.
Fangfang Chen (Chief Operating Officer, Algorand Foundation) told Cointelegraph that Algorand, as an open-source, permissionless, pure-proof-of-stake Blockchain protocol for the next generation financial products, would be a benefit to both developers and businesses.
Developers have access to public network nodes as well as more extensive services like node monitoring. It would make it easier for developers to deploy their apps by connecting Algorand’s Development Environment to BSN Nodes. Chen said that:
"The integration creates a stable, cost-effective global infrastructure that allows developers to invent and create applications to solve real-time problems. It will foster a global developer community that can exchange ideas, source talent and create business partnerships.
ShareRing is a global sharing platform that can seamlessly integrate with businesses from different industries. The key focus of ShareRing's initial efforts is to connect ShareLedgermainnet and testnet nodes as well as validators within the BSN.
It will give the company a greater level of network security and make it easier for developers to create dApps on ShareLedger.
ShareRing stated that it will also collaborate with the BSN to release API's such ShareRing ID and ShareRing Pay for asset management and rental, and reward protocols, which developers can use to expand on. ShareRing stated that it expects its protocols to be widely used in fast-growing smart cities projects.
ShareRing CEO Tim Bos stated that the company's access to multiple blockchains through BSN's network would allow it to connect its products and services, thereby increasing adoption of the ShareRing Ecosystem.
The BSN will also allow many developers, corporations and blockchain projects unlimited and low-cost access for ShareRing Enterprise Ready dApps and other blockchain products and services.
Digital Identity Management Protocol (ShareRing ID), Payment Infrastructure Systems, (ShareRingPay), dCommerce Platform, (ShareRing Shop), asset and rental management, as well as reward protocols, are all said to be in development. He also said that:
"We expect our protocols to be widely used in fast-growing smart city projects." We also look forward to leveraging our relationship with companies such as China Union Pay in order to gain unprecedented access their services within China.
Anatoly Yakovenko is the CEO and Co-Founder of Solana. She explained to Cointelegraph that Solana uses a Proof-of-Stake protocol with a single chain, which is focused on scaling without compromising security or decentralization. BSN was attracted to Solana because it is highly scalable. He also said that:
"Solana is thrilled to be part BSN and provide developers with convenient access to BSN's infrastructure."
BSN is reportedly looking into the possibility of collaborating with COSMOS or Polkadot in order to build its Interchain Communications hub, or ICH. This protocol will allow dApps on different chains to communicate with each other using a few lines code.