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Blockchain News

Bitmain Boosts ASCH with 50 Million RMB Investment

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Bitmain Boosts ASCH with 50 Million RMB Investment

News coming from the famous giant public chain; ASCH stated that Bitmain, the global leader in blockchain enterprise with the highest market value has invested 50 million Yuan in ASCH.

“I have always admired ASCH’s solid technology and geek culture. Soon after ASCH’s accomplishment of cross-chain technology, Bitmain decided to invest in ASCH. We will soon start cooperations in aspects of R&D, community building and overseas marketing. Our collaboration will greatly expand the usage of BCH and accelerate its growth,” said Wu Jihan – the founder of Bitmain.

The implementation of Bitcoin cross-chain technology in the ASCH propelled the investment by Bitmain. The duo vowed to continue to cooperate in capital, technology, local and global brand promotion, striking a strong alliance that will expand the scene and adoption of crypto.

Qingfeng Shan, the founder of ASCH, also made a statement saying;

“I really appreciate the investment from Bitmain, the world renowned enterprise with a strong blockchain ecosystem. The investment is recognition of ASCH team’s efforts of past two years, and the cooperation will definitely boost our strengths in R&D and marketing. We will strengthen our cooperation in all aspects, and look forward to a bright future together.”

The recent upgrade in ASCH main network, version 1.4 on July 31, 2018 marks the cross-chain ability to inter-operate between ASCH and Bitcoin Cash (BCH). This serves as the first ever cross-chain technology in China which is a key to realizing good network value, form alliances, and acts as a medium for expansion and connection of the blockchain.

Concurrently, it will serve as a massive innovation in technology and the concept of the blockchain industry. This will play an essential role in stimulating the technological development of the industry, an indication for a leading in the cross-chain era.

Context  Beijing’s Online Financial Watchdog Warns Again the Risks of ICOs

Brief Introduction of ASCH

Established in 2016, ASCH is a new generation application and innovation development platform which is based on multi-chain architecture. The platform offers reliability, efficiency in operation, flexibility, and low cost. ASCH is the number one blockchain project in China to utilize DPOS consensus mechanism as well as the first to optimize and enhance security with PBFT. ASCH is a leader in employing cross-chain technology and blockchain 3.0 era pioneer.

Presently, over ten DApp applications based on JavaScript and side chain technology have been launched including games, virtual assistance, market forecaster, as well as other fields such as digital pets, virtual earth, Kong Mingwu, Bang, Hello Kimi, Space, CCTime, and 3UDA.

ASCH also work towards restructuring local industries with blockchain technology as evident in its first move with Fangjinsuo, a lon service provider with the capacity to merge about three million loan agents in China. DApp development was completed on ASCH by Fangjinsuo, which began its private beta testing.

Bitmain Achievements

Bitmain doubles as the largest manufacturer of Bitcoin equipment and Bitcoin mining pool in the world. It has recently completed a deal on series B funding with a huge $12 billion value. As the biggest blockchain company in the existence of blockchain and cryptocurrency, its equipment powers 38% of the total blockchain hashpower.

Bitmain provides underlying protocol support for the blockchain ecosystem; BTC.com creator of Antminer, a custom solution that provides SHA256 high-speed integrated computing, Antpool.

Jason Lee is a writer for various crypto publications and manages a small team on Medium. His love of technology and inquisitive nature set him up with crypto back in early 2016 and he hasn’t looked back since. In his spare time, Jason enjoys rock climbing and wakeboarding.

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