Qtum, the block chain application system suited for real-world, business oriented use cases, has announced that it has partnered with the Chinese video portal Baofeng to create the world’s first Block chain Consensus Network (BCN), with the most decentralized node network. Together, Baofeng and Qtum will operate a total of 50,000 network nodes. Notably, Bitcoin and Ethereum network has 10,000 and 20,000 total nodes.
On March 2015, Baofeng was listed in the Shenzhen stock market. The company currently commands a valuation of RMB 8 billion. A large number of nodes will increase the safety and security of DApps deployed in the Qtum’s block chain. It is also expected to encourage more enterprises to start using the Qtum block chain for developing their applications. Baoeng and Qtum will also cooperate with each other to launch new video distribution, copyright defense, and payment method technologies.
Patrick Dai, CEO, and Co-Founder of Qtum said
“We’re thrilled to have the support of Baofeng.”
Reccon Cui, CEO of Baofeng Bokocloud stated
“We are incredibly thrilled to sign the world’s initially Blockchain Consensus Network (BCN) assistance agreement with Qtum. Baofeng Group operates the world’s largest P2P network, so we are impressed by the safety and excellent versatility of the Qtum’s block chain architecture, and we discovered that the current ecosystem of Qtum is fast producing. We are incredibly satisfied to cooperate with one particular of the greatest block chain technical teams in this field.”