The national blockchain of China, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF), signed a contract with My E.G. Services Bhd (MyEG). Xinghuo BIF has carried out this contract to acquire and run the Xinghuo International Supernode to have connectivity with the other worldwide entities at the China Internet Conference this year which is hosted on the behalf of the Chinese Ministry of Industry and Information and Technology (MIIT) as well as the Shenzhen Municipal People’s Government.
Xinghuo BIF Collaborates with MyEG to Connect Chinese Blockchain to Worldwide Markets
The contract additionally takes into account the utilization as well as the adoption of the exclusive Decentralized Identifier Standard (DID) across borders to slowly advance the Web3 industry in China and the rest of the world. Xinghuo BIF is considered to be a worldwide blockchain infrastructure platform that is keen to offer a dependable digital foundation throughout the world.
At present, the supernodes of Xinghuo BIF deal with the chief zones in China along with twenty-nine backbone nodes offering facilities to be provided to a wide scale of cities and industries. Liuzhou Supernodes and Xiamen, as well as Hengqin and Jiaozhou backbone nodes, fortify the trade across the borders. International enterprises taking into account Siemens and SAP took Xinghuo as a collaborator to promote blockchain-related innovative applications throughout the world.
Xinghuo BIF Contemplates Building Internet’s Next Generation via Blockchain Technology
Currently, Xinghuo BIF resolves almost 100M blockchain identifiers regularly, turning it into the most prominently utilized blockchain worldwide. While making remarks on the collaboration, Xiaohui Yu (the CAICT President) stated that they should have more cooperation to construct a node network, take hold of the opportunity related to the Internet’s next generation as well as fortify the industries via the technologies like blockchain, thus offering resilient infrastructure and advancement in innovative development.
The contract denotes a landmark achievement in the worldwide footprint of Xinghuo BIF after the Memorandum of Understanding was inked on the 12th of October in the previous year. MyEG’s Group Managing Director and Zetrix co-founder, Wong Thean Soon, mentioned that Xinghuo is in advance known as a highly advanced as well as a profoundly utilized chain in the case of trade and industrial applications.
Zetrix (the layer-1-based open blockchain of MyEG) and Xinghuo BIF had formerly declared to release cross-chain Verifiable Credentials (VCs) and Blockchain Identifiers (BIDs). VCs and BIDs are significant building blocks in the interconnected Web3 sector, as they work as the foundational instruments used by the decentralized applications (DApps) for several unique services.