Providing Underlying Technological Support - Strategic Cooperation Announced between Conflux and Qingdao Bay Blockchain

08 August, 2019

Today, the 2019 China (Qingdao) International Software Convergence & Innovation Expo has opened it’s new summit. The summit focusses on smart cities, smart government and data security through blockchain technology. Many high-ranking leaders of Qingdao’s municipal government attended the summit.

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According to reports, the 2019 China (Qingdao) International Software Convergence & Innovation Expo is based on the theme of boosting the industrial development of ICT - Information and Communication Technology. The expo focusses on the famous five (famous products, famous enterprises, famous gardens, famous exhibitions, famous celebrities)" of the software industry. More than 300 exhibitors attended the summit, attracting more than 40,000 professional visitors.

At the summit, Conflux announced a strategic cooperation with Qingdao Bay Blockchain. Mr. Zhang, The Co-Founder of Conflux Mr. Yuanjie Zhang and the Secretary General of Qingdao Blockchain Research Institute’s Council Dr. Jun Zhang signed an agreement for strategic cooperation. 。

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In the future, Conflux will provide support for the underlying blockchain technology of the Qingdao Bay Blockchain thanks to their strong technical capabilities. Mr. Yuanjie Zhang said that Conflux is committed to building a high-performance and next-gen public chain, and has the best team in the blockchain industry with strong roots and academia and R&D.

Dr. Fan, the Founder of Conflux, graduated from the“Yao Class” of Tsinghua University in China and received a Ph.D. in Computer Science from Massachusetts Institute of Technology (MIT) in the United States.

Qingdao is the third city in China that has issued a blockchain white paper. Qingdao Bay Blockchain is the fourth economic demonstration zone approved by the Chinese Government. Qingdao Blockchain Bay will develop a series of innovative technological, industrial and operational advancements based on blockchain technology. Conflux will use its knowledge of blockchain technology to help develop these advancements.

Dr. Jun Zhang said that Conflux is an excellent representative of all blockchain enterprises. Conflux solved the problem of wasting computing resources and the consequential degradation of security caused by forking in high-concurrency networks through using its self-developed treegraph consensus algorithm, meaning, is the first and the only public-chain to achieve a high TPS without sacrificing any degree of decentralization and security. We are convinced that Conflux's outstanding performance will provide a strong underlying technical support for Qingdao Blockchain Bay.

Source: http://xiaofei.people.com.cn/n1/2019/0808/c425315-31284141.html