On 11 December, blockchain system BigBang Core held their very first conference at the AsiaWorld-Expo in Hong Kong. Also known as “the only blockchain technology applied for the IoT reality”, the team announced the launch of the BBC project and showcased their mainnet, which was launched earlier on 30 November this year.
The conference addressed several important blockchain issues, such as current trends and climates, as well as how traditional businesses can potentially tap into and adopt the blockchain technology, specifically for IoT purposes.
At the conference, BigBang Core signed agreements for the strategic partnerships with several major corporations, namely Zhejiang Zheran Energy Technology Co. Ltd., Zhejiang ZhengTu Technology Co. Ltd., Shenzhen Strontium Duoduo Water Industry Co. Ltd., Zhongshan Subor Co. Ltd., and Yi Hua Department Store Holdings Limited. The partnerships will promote industrial integration of the blockchain technology, and mark an important milestone for blockchain to transition from the technology space to further physical applications.
The BBC system stands apart from most of the existing projects within the sector as it comes with no pre-mined coins. While it may appear similar to existing peer-to-peer digital currencies, the technology is designed specifically for the data necessities of the IoT. This requires the implementation of a unique “tree-based structure” – a safe main chain linked with several applied branch chains – to contain multiple blocks, as opposed to single-chain structures such as Bitcoin. This allows the system to support potentially infinite Transactions Per Seconds (TPS) securely.
The team, who worked on the project for 3 years, has already made a significant real-world impact within the industry. The system was used for a carbon emission indicator test conducted by a company in Hangzhou. This success will give both investors and users confidence that BigBang Core is a trustworthy, secure and industry-leading project for IoT-related blockchain requirements.
Following the conference, BigBang Core is planning to incorporate their system into further several main areas: energy data quantification, agricultural big data as well as traceability and authenticity of logistical data and surrounding financial products. The BBC project is set to transform these industries from within by reevaluating and reinventing the way these industries and corporations contain, secure and distribute their valuable information.
About BigBang Core:
BigBang Core is a blockchain system nestled on a peer-to-peer network. Similar to popular peer-to-peer digital currencies, the transparent ledger is maintained in a decentralized way, achieving autonomous, secure management and efficient flow of digital assets. BigBang Core is designed for the data requirements of the IoT (Internet of Things). BigBang Core uses blockchain technology to provide a decentralized security management platform and achieve the performance requirement, such as high concurrency and low latency for IoT systems.