The Algorand blockchain is committed to providing the best solutions for members of the blockchain community. This blockchain technology being a brainchild of Silvio Micali and other brilliant minds is an avenue to fill in the gaps concerning the situations affecting the global adoption of blockchain.
Although blockchain has become a global phenomenon, there are still some issues that pose a problem for a larger number of adoption across the global sphere. There has been an undermining of industrial growth and a barrier of widespread adoption for about a decade.
These issues are what Algorand solves with their borderless economy that offers transparency and inclusiveness where prosperity can be built regardless of where you find yourself. Algorand’s borderless economy includes TestNet and MainNet that allows companies and developers across every industry to build highly innovative applications on the blockchain platform.
On the Algorand blockchain platform, developers can easily build layer 2 applications in the programming language that they prefer. Algorand has a vigorous community of developers that access to a wide range of use cases by different industries and businesses.
The Algo Application Programming Interface (API) and Software Development Kit (SDK) help in connecting developers to the decentralized system that includes providers of infrastructure and node operators which helps in solving the regular barrier concerning block application development.
In addition, Algorand currently has an expansive community of developers, however, they believe that more developers can be attracted to build on the system. This is why BSN has integrated Algorand to their system for a borderless economy to be a reality alongside other undeniable benefits.
However, you need to know what BSN is and how it would positively impact Algorand in the further stimulation of its developer community.
What Is BSN?
BSN is a Blockchain-based Service Network that is backed by the Chinese government. It is a public network that is used for the deployment, operation and management of all types of blockchain distribution applications (DApps). Developers enjoy multiple privileges from BSN because of its enormous resources that are made available to the public.
With BSN, developers can easily deploy both permissioned and permissionless blockchain apps. This system solves the problem of high-cost associated with the deployment of DApps and their general maintenance. The BSN network prides itself in helping you build permissioned chains in less than one hour through a cost effective channel.
Their permissionless services are no different in the quality that they provide. You are given access to all public chains which is done through one gateway that involves using a monthly plan.
Also, BSN works both with a consensus trust mechanism and consortium blockchain technology which provides a public resource environment for developers. This eradicates the need for them to purchase a software server or cloud services for the maintenance of their blockchain system. BSN offers them an alternative that would save them the stress.
The BSN network integrated 8 blockchains in its Open Permissioned Blockchain Initiative(O.P.B) that was announced on September 27th, 2020. Public blockchain projects naturally find it hard to penetrate into the Chinese market, however, the integration allows these selected blockchain systems to enjoy the benefits inherent in the BSN network. These blockchain systems include; Tezos, Ethereum, Cosmos, Polkadot, IRISnet, Huobi Chain, Nervos and of course, Algorand.
The Impact Of BSN On Algorand System
- Low Cost
BSN is a one-stop shop solution for developers that provides a public resource environment for them to leverage upon. By providing these resources, developers get to reduce the cost they normally spend on the deployment and maintenance of blockchain DApps.
They provide public nodes and consensus order services that are built on the principles of resource sharing and load-balancing mechanisms. This way, developers on Algorand can deploy, operate and maintain the reasonable price services of blockchain DApps because of the BSN integration.
- Increased Convenience
Traditionally, if users want to operate blockchain applications on, there has to be the deployment of independent node operating environments on various consortium blockchains. In addition, each of these consortium blockchains need a separate certificate for identification. This way, developers have to go through complications before participating in applications.
With the integration of BSN on Algorand, users can now enjoy convenience because they share the same certificate of identification. All public chain nodes are also stacked together making it easy for users to carry out their operations based on the interoperability of the network.
- Global Adoption Purposes
This Chinese BSN network gives its users access to data storage, bandwidth and other beneficial resources. They are also given access to the enterprise chains of China and financial data through cross-chain and China UnionPay. Also, BSN has over 130 nodes across China and international nodes in 6 other continents, this creates a broader service for Algorand.
Also, Algorand would be able to attract developers all over the world to adopt their system and leverage on the impact of BSN especially on giving better networks. BSN joins forces with Algorand to take it before a wider audience. This way, Algorand would truly be able to continually fulfill its commitment to building a borderless economy.
- Easier Access
The BSN network affects Algorand by giving developers easier access to the system. This is achieved by BSN’s system that requires a DApp Access Certificate and User Transactions Certificate for developers. Developers gain access to all the public chain nodes by using just one gateway. This gives them access to unlimited numbers of applications at all times.
BSN also enjoys the remarkable features of Algorand especially the functions of Layer-1 which is made available for Chinese enterprises and developers. Also, Algorand has solid relationships with other industries, businesses and organisations across various sectors.
Furthermore, BSN would be able to take advantage of these relationships for their own market in order to fulfil their mission of being the only infrastructure provider for blockchain firms across the globe. Also, this Chinese network would be able to reach both internal and external markets.
Algorand’s global outreach program with BSN is a collaboration of two powerful forces to help proffer solutions to an ever-growing user community. Algorand’s MainNet and TestNet was installed on BSN in order to provide a more standard environment for the building and running of applications.