By Kate Yuan

(JW Insights) May 26 -- Beijing Academy of Blockchain and Edge Computing (微芯研究院BABEC) launched the new generation 256-core blockchain acceleration chip during the opening ceremony of the 2023 Zhongguancun Forum on May 26, China Daily reported.

Zhang Bo, director of the hardware research center at BABEC, said: "This new generation chip greatly speeds up the blockchain transaction process. The chip also uses a high performance streaming data encryption and decryption engine, it offers the most comprehensive security guarantee."

According to BABEC, the chip can be applied to large-scale blockchain computing power clusters, fully supporting the operation of the completed national blockchain computing power network, thus serving the high-quality development of the country's digital economy. The chip is four to five times better in performance compared to the previous generation of chips.

Currently, blockchain technology has become a key information infrastructure in fields such as global data trading, financial settlement, international trade and government administration. With the rapid development of web 3.0 and the metaverse, the scale of blockchain networks continues to expand, the frequency of transactions rapidly increases and the demand for accelerated blockchain transactions is rapidly exploding.

This month, the National Blockchain Technology Innovation Center was put into operation. The center aims to accelerate the construction of a large-scale blockchain computing power cluster, build a national blockchain computing power network, as well as nodes in key industries and key regions such as energy and finance to create an open and inclusive national blockchain backbone, completely breaking the phenomenon of "blockchain islands".

"The new generation chip will play a crucial role in achieving the goals," Zhang said, according to the report from China Daily.

(Yuan XY/Gao J)