Tencent And Huawei Develop «The Killer Of Ethereum»
FISCO consortium supported by major Chinese corporations Tencent and Huawei will present “blockchain ecosystem” BCOS next month. It is focused on provision of solution for corporate distributed ledgers.
The developers report that the platform will be able to process 1000 transactions per second and will meet the standards of Chinese regulators. They will access data monitoring and transfer via special nodes. The platform with open source code supports many apps from the areas of finances, tourism, copyright, recruiting and gaming.
Tencent, Huawei and FISCO position their platform as a competitor of solutions made by R3 (Corda) or IBM (Hyperledger Fabric). In addition, the experts believe that BCOS has all the advantages of Ethereum (except for cryptocurrency) and Chinese megacorporations’ support.