BCS will start its official research and development phase for an e-commerce solution running on a blockchain named ECOchain.
In order to combine the research and development needs of BCS, and in order to provide a more convenient application for blockchain applications for entity-based trading companies, BCS decided to officially launch R&D for an e-commerce specific blockchain in June 2018.
BCS will use a POS-based consensus algorithm to develop an e-commerce goods trading application, and name the public chain ECOchain. It will include features such as diversified smart contracts and high-speed TPS.
It will also be the world’s first blockchain-based solution developed specifically for e-commerce entities.
It was first announced at “Connecting to the World, Leading the Future” (涟接世界 引领未来) event in China on March 26, 2018.