Neo Launches An-shun Chain, an Ethereum-Compatible Consortium Chain for the Chinese Enterprise Market
Neo, a leading blockchain infrastructure network, has developed a bespoke consortium chain called An-shun Chain, designed specifically for the Chinese enterprise market. This new chain, compatible with various Ethereum development tools, allows enterprises and developers to build applications and deploy smart contracts on-chain.
Neo's Commitment to Blockchain Interoperability and Transformation of Traditional Industries
The launch of An-shun Chain is in line with Neo's vision to drive blockchain interoperability and transform traditional industries using Web3 tools. By leveraging robust and innovative technologies, including Byzantine fault-tolerance consensus mechanisms, the An-shun Chain ensures a highly reliable system. Furthermore, it builds on the recent launch of Neo's new EVM-compatible sidechain, Neo X, which offers increased security and privacy for users.
An-shun Chain: Key Technical Innovations and Enhanced Performance
An-shun Chain incorporates several key technical innovations to enhance performance and security. The HotStuff consensus algorithm allows for efficient Byzantine fault tolerance and supports a large number of nodes, making it possible for the An-shun Chain to accommodate over 100 consensus nodes. The RLP serialization algorithm ensures efficient encoding and decoding, while an improved MPT data structure guarantees seamless and robust core data structures. Bloom filters enable quick queries of transaction logs.
Faster Block Generation and Improved Transaction Performance
Thanks to these technological advancements, An-shun Chain offers faster block generation, lower gas costs, and significantly improved transaction performance. It supports up to 2,000 transactions per second (TPS), making it more than 100 times faster than other leading chains. This impressive transaction speed makes An-shun Chain suitable for complex business and financial transactions.
Compatibility with Ethereum Development Tools
An-shun Chain is also compatible with various Ethereum development tools, enabling the development and deployment of applications and smart contracts on-chain. This compatibility provides greater convenience and accessibility to these technologies for enterprises, institutions, and individual users.
Partnership with BSN-DCC Network
The launch of An-shun Chain is made possible through a partnership with the BSN-DCC Network, a distributed cloud service network managed by the Blockchain-based Service Network (BSN) China. BSN is a leading blockchain infrastructure network comprised of key organizations and companies, with Neo being one of its earliest members.
According to Da Hongfei, Founder of Neo, "The launch of the new An-shun Chain aligns with Neo's vision to drive blockchain interoperability and transform traditional industries with Web3 tools, paving the way for a future of the Smart Economy."
He Yifan, CEO of Red Date Technology, the architect of BSN, expressed excitement about the continuous introduction of consortium chains, stating that they provide more convenient access to technologies for various industries. He also emphasized the commitment of the BSN-DCC Network to provide an open, transparent, secure, and stable infrastructure, highlighting the partnership with Neo as a means to realize this goal.
With the launch of An-shun Chain, Neo is making significant strides in the Chinese enterprise market, offering increased performance and security to address the needs of specific industry sectors. As blockchain technology continues to gain momentum in China, Neo's innovative developments are poised to play a crucial role in the adoption of blockchain and Web3 technologies.
Analyst comment
Positive news. The launch of An-shun Chain, a bespoke Ethereum-compatible chain, will drive blockchain interoperability and facilitate mainstream adoption of blockchain and Web3 technologies. It offers increased performance, lower costs, and improved transaction performance, making it suitable for complex business and financial transactions. The compatibility with various Ethereum development tools enables the development and deployment of applications and smart contracts on-chain. This will provide more convenient access to these technologies for enterprises, institutions, and individual users and allow the DDC network to cover a broader range of industries. The market is expected to see increased interest and adoption of blockchain solutions in the Chinese enterprise market.
