A NEO blockchain integrated with the Chinese BSN
As a reminder, the BSN has existed since 2020: it is a blockchain platform supported by the Chinese government. It is a means for the latter to integrate technologies related to public blockchain smart contractswithin a framework allowing it to apply its own regulations.
NEO had already been partially integrated by the BSN during 2020, but the partnership has just been strengthened. The Blockchain-based Service Network announced two days ago that the Jiuquan blockchain, which is based on NEO, will be one of the ten strings that make up the BSN mainnet :
?We are thrilled to announce that @Neo_Blockchain will be a framework provider on the BSN DDC!
Now users can digitize and automate asset management through smart contracts provided by NEO.
?Guess which blockchain framework will be next? https://t.co/758UyNaY3w
—BSN (@bsnbase) February 15, 2022
” Users can now digitize and automate asset management, thanks to smart contracts provided by NEO. »
The integration allows users to have access to a non-fungible token (NFT) market, or at least their Chinese equivalent. China indeed speaks of digital certificates rather than NFTs, to separate those authorized by the government from those that exist on platforms like OpenSea.
The integration will also allow users to make use of NEO’s domain name service, which allows the creation of simplified .neo addresses.
? More info on the Neo blockchain and how it works
NEO price has been climbing for two days
The consequence is that the price of the NEO has started to climb since the announcement of the BSN. In just over 48 hours, he at progressstar by +26%to exceed $26 again:
Evolution of the NEO price since the announcement of the BSN – Source: TradingView, NEO/USDT
However, there has been a sharp decline since last night. And for now, the NEO remains very far from its all-time high. It was close to $200. in January 2018, when there was a lot of excitement about cryptocurrency. Since then, water has flowed under the bridge, but the integration of a Neo blockchain into the BSN mainnet could continue to restore the reputation of the project.
China seems in any case to succeed for the moment in its balancing act: it is now fully devoted to the blockchain, while banning entire swaths of the cryptocurrency industry, including Bitcoin (BTC) mining. How far will she go?
? To read on this subject – China makes blockchain a priority: 15 pilot zones created on its territory
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About the Author : Marine Debelloir
Deputy editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
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