IRISnet Enterprise IRITA has been chosen by BSN to support Cosmos Ecosystem
China’s Blockchain-based Service Network BSN officially kicked off in Beijing on April 25, 2020. The BSN initiative, a joint effort led by the State Information Center of China, China Mobile, China UnionPay, and Red Date Technology, is a standardized, nationwide public infrastructure network across different regions and business sectors to support faster and cheaper blockchain development and deployment.
The announcement of the BSN launch saw coverage from the top media outlets within the country including People’s Daily Online, Sina Finance, and Tencent News. , the President of People’s Daily Online, outlined at the conference that BSN is emblematic of leveraging blockchain technology to conduct national strategies, address key issues, and create real value.
The launch of BSN also captured widespread attention from overseas. Coindesk, for example, has provided consistent media coverage on the development of BSN since its initiation, most notably an in-depth interview with Yifan He, CEO of Red Date Technology. Red Date Technology is one of the founding members of BSN, responsible for architecting and operating the infrastructure. Mr. He briefly touched on the vision of BSN in the said interview: “One of our primary goals is to include as many blockchain frameworks as possible and make them accessible under one uniform standard on the BSN platform. In that way, we can save users’ overhead costs to build a blockchain while being able to offer more custom services.” A partnership between BSN and Cosmos was also mentioned by He. The partnership will be through IRITA, an enterprise-focused solution branching off of the Shanghai-based IRISnet project.
How Does IRITA Support BSN?
BSN introduces three network participant roles: 1)Cloud service providers; 2)Blockchain framework providers (particularly Consortium Blockchain); 3)Application developers. IRITA falls into the second category and the Shanghai based IRISnet dev team Bianjie has closely followed BSN’s design to get IRITA on board. The end goal is to provide the application developers to be able to build applications using IRITA on BSN.
Since the beginning of 2020, Bianjie has been actively collaborating with Red Date Technology to adapt IRITA aligns with BSN’s adaptation standards. A prime example would be the encryption module Bianjie developed according to the specifications of China’s National Encryption Algorithm. Following a plug-and-play design approach, IRITA offers native support for different cryptographic algorithms according to customers’ specific needs, and the version of IRITA on BSN will use China’s National Encryption Algorithm. In January this year, Bianjie submitted various technical documentation on developing and deploying IRITA to the staff at BSN with the intention to help developers easily and quickly deploy their own IRITA runtime. We look forward to supporting more and more developers building on IRITA and grateful for the amazing feedback we have received from BSN so far.
Currently, BSN supports top consortium blockchain frameworks including Hyperledger Fabric by IBM and FISCO BCOS by Tencent WeBank. It is our goal to see IRITA join the prestigious group and collaborate with other players in the space on driving the world towards a better future.
What Value Does IRITA Bring to BSN?
Powered by Tendermint and the IRIS SDK, IRITA (Inter-Realm Industry Trust Alliance)is the first enterprise-focused consortium blockchain coming out of the Cosmos ecosystem. Leveraging their extensive experience in providing technology solutions, Bianjie was able to deliver a slew of exciting features in IRITA including 1) privacy-preserving data sharing; 2) high-performance consensus engine; 3) advanced inter-chain communication; 4) highly practical on/off-chain interoperability; 5) and flexible digital asset modeling/exchange. IRITA carries the potential of being widely applied in finance, health care, supply chain, and other applicable business scenarios.
Inspired by the Inter-Blockchain Communication IBC protocol by Cosmos, IRITA takes it one step further with its innovative service layer (a.k.a IRIS Services) in connecting blockchains with conventional enterprise applications, supporting data exchange between heterogeneous computing systems (e.g. public chains, consortium chains, and legacy systems). Particularly in the case of information exchange between public chains and consortium chains, IRITA in conjunction with the IRISnet service hub brings extraordinary value to the existing ecosystem and the future that has yet to come.
The Bianjie team recently open-sourced implementation of integrating Chainlink as a trusted oracle into iService. The synergy between IRISnet and Chainlink has been a long time coming. During the BSN interview with Coindesk, Mr. He also mentioned besides Cosmos that BSN would also like to support Chainlink for oracle service, and we can expect IRITA and IRISnet to provide a very convenient integration path when bridging the Chainlink’s services for consortium blockchain applications on BSN.
About Cosmos & IRISnet
Cosmos is one of the most prominent blockchain projects focused on inter-chain communication. Founded in 2016 by the core team behind Tendermint, the Cosmos project aims to bring inter-chain communication to an ecosystem of independent parallel blockchains.
IRISnet (a.k.a IRIS Hub) is the world’s first self-evolving, BPoS (Bonded Proof-of-Stake) blockchain designed to be the foundation for next-generation distributed applications. Built with the Cosmos-SDK, the IRIS Hub enables cross-chain interoperability through a unified service model, while providing a variety of modules to support DeFi applications. IRITA is an enterprise blockchain product from the IRISnet development team.
About Chainlink
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments.
Resources
https://www.coindesk.com/chinas-national-blockchain-will-change-the-world
