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Tencent Cloud Launches Two New Blockchain Platform Products

The cloud computing subsidiary of Chinese tech giant Tencent has just announced the launch of two new blockchain platforms amidst efforts to drive broader application of the technology.

On 11 September Tencent Cloud unveiled its Blockchain Base Level Engine (区块链底层引擎) and its Blockchain Trusted Computing Platform (区块链可信计算平台), in a move to “further enrich its blockchain product offerings.”

According to Tencent the Blockchain Base Level Engine is a “highly scalable enterprise blockchain system,” that focuses on the scalability issues created by the huge volumes of data produced by industry blockchain applications as well as cross-chain operability issues, for the purpose of achieving “cross-organisation information coordination on a greater scale.”

In the area of cross-chain interoperability, the Tencent Blockchain Engine is equipped with a unified blockchain identification system that covers multiple chains, as well as a multi-party cross-chain administration platform, in order to achieve programmable and verifiable cross-chain interoperability.

The Engine also makes use of smart contracts integrated with Oracle to achieve on-chain and off-chain coordination.

Tencent said that its Blockchain Trusted Computing Platform aims to resolve the privacy, security and ownership issues for both data suppliers and users, in order to achieve “value maximisation of data assets” in sectors such as healthcare and finance.

The Platform makes integrated usage of trusted computing and blockchain technology to create fully traceable and auditable data usage procedures, and achieve full process transparency and monitoring.

Tencent said that Platform also employs chip-level protective measures and encryption algorithms to ensure the privacy and completeness of data.

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