Alibaba’s AntChain confirms launch of the Blockchain Transmission Network

Alibaba's AntChain launches Blockchain Transmission Network during a first developer conference
1 year ago
2 mins read

AntChain, the blockchain arm of Alibaba Group’s affiliate company Ant Group, has launched a high-speed and long-distance blockchain communication technology called Blockchain Transmission Network (BTN).

The firm said that BTN can help improve blockchains’ data throughput and stability with high-speed internet technology. It claimed that BTN can increase the throughput of blockchain networks by 186% and reduce transmission latency by 40% while cutting the cost of bandwidth by as much as 80%. 

Antchain also launched the AntChain Module-as-a-Service (MaaS) integrated computing module for simplified blockchain deployment, which lowers the costs of deploying blockchain hardware and ensures the security and immutability of transmitting data with technologies that include silicon root of trust, digital signature at source and end-to-cloud integration.

AntChain’s first developer conference

The firm rolled out the AntChain MaaS and BTN along with other suites of technologies and products at its first developer conference on Wednesday. During the meeting, developers from different industries shared their experiences on how they integrate Antchain’s technologies into their daily operations.

The AntChain developer community has so far created 30 industry applications that include a blockchain-powered rural property trading platform with NDSCSoft.

“AntChain’s technology can help strengthen the efficiency of multi-party collaborations, while enhancing trust in traditional rural property transactions, in turn acting as a frictionless and more efficient solution for customers in rural areas,” said NDSCSoft deputy general manager Wang Liping.

Official blockchain partner of UEFA Euro 2020

Antchain launched the new blockchain technology products after striking a partnership deal with UEFA to become the official global blockchain partner of UEFA Euro 2020.

The company will use its blockchain technology during the games to record the top scorer and upload the results to a blockchain ledger for permanent storage.

The top scorer trophy is also designed by Alibaba-owned Alipay, China’s largest digital payment platform with over 1 billion users and 80 million merchants.

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Rhodilee Jean Dolor

Rhodilee Jean Dolor is an experienced journalist covering finance, business, digital assets news. She aims to bring accurate and verified information to Finbold readers daily.