Blockchain beyond Bitcoin: Xunlei’s ThunderChain

Recently, the attention of the investors had turned to blockchain technology while the focus was on Bitcoin in the previous year. The potentiality of the blockchain in its uses and practical applications attracted them rather than fuelling Bitcoin. Xunlei which is a leading internet firm in China had risen 4.3% premarket trading on April 20 after its announcement on the launching of “Thunderchain”.  And on May 16 the company had again announced that they had opened the blockchain technology for the global DApps developers to make the connection with the 400 million users of Xunlei’s products and services and to create applications.

Xunlei ThunderChain Blockchain

Thunderchain which was launched in late April is more attractive for its speed as compared to other blockchains. Its innovative architecture is possible to create a new block in every second and its network can process millions of transactions per second. It’s press release also notes that it will be supporting smart contracts written in the Solidity language and making it compatible with Ethereum and a range of existing applications that use this system. Practical Byzantine Fault Tolerance is the algorithm developed in 1999 by MIT professors Miguel Castro and Barbara Liskov, is which the ThunderChain relied on.

ThunderChain also proved that it is useful in other areas such as healthcare, IP exchange, and house rental fields. ThunderChain developers will be receiving a variety of investment, marketing, and technical support.  Bitcoin and Ethereum have shown the industry something considered impossible before. But now they are far from being perfect. People are waiting for technology for the future which will reshape how we work or live. However, it appears that no technical details to support these claims are available in English at time of writing, and the software’s proprietary licensing means that programmers won’t be able to scrutinize or learn from it.

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