Tencent and Huawei lead Chinese companies in building coinless ‘Ethereum-killer’



chinaeth 796x448 - Tencent and Huawei lead Chinese companies in building coinless ‘Ethereum-killer’
A consortium backed by major Chinese corporations Tencent and Huawei will debut its new open source “blockchain ecosystem” FISCO BCOS at the Singapore Fintech Festival next month. BCOS is geared towards providing enterprise-grade distributed ledger (DLT) solutions. Much like the Ethereum-based Hyperledger Fabric, its completely coinless. This makes BCOS more of a set application templates geared towards businesses looking to adopt DLTs than a single ‘traditional’ blockchain. Behind the new platform is China’s Financial Blockchain Shenzhen Consortium (FISCO) task force, which features more than 100 members, spearheaded by major financial players like WeBank, Tencent Cloud, and Shenzen Securities Communication. While the press release gives many technical details of the…

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