The stock of Xunlei (NASDAQ:XNET) closed at $13.46 gaining 6.32% in yesterday’s trading session. This NASDAQ-listed cloud network provider has proceeded to unveil its proprietary blockchain platform. That has been regardless of the ongoing class actions in line with the initial coin offering (ICO) allegation forwarded earlier on.
It was on Friday that a press event was held in Beijing. It was in the course of that particular event that the business guru proceeded to make an announcement revealing all details regarding its open blockchain platform which according to sources was dubbed “ThunderChain.”
It is fundamentally made in such a way that it enabled the various developers with the formulation of a wide range of the decentralization applications. It had its basis on the practical Byzantine fault tolerance (PBFT) consensus mechanism.
And it thus goes without saying that Xunlei has every right to move ahead and make a monumental claim for ThunderChain-that it actually undertakes processing capacity in a significant number of transactions that are made per second.
Xunlei has moved ahead to offer its explanation where it made it clear that the platform combined its existing capacity in cloud-based content with its proprietary blockchain. On the same note it is crucial to mention the significant role the peer-to-peer distributed network played in the whole matter.
The firm was founded way back in 2003 and it is worth noting that it ended up becoming rather notable in China and that can be closely linked to Thunder which happens to be a peer-to-peer download app. It is known for employing the internet users’ idle broadband capacity and it is in that particular way that the internet users’ idle broadband capacity is in a position to expedite uploads as well as downloads of digital content.
ThunderChain recently announced its plan to make headway into the blockchain space and that was way back in October the previous year. Back then, the various users were in a position to access the LinkTokens and have them to their side by buying the OneThing Cloud which is the newest cloud storage device.