Cloud Giant Xunlei Unveils Its ‘ThunderChain’ Platform
Xunlei, a US-listed technology firm which runs a cloud-based network for digital content delivery, announced its open blockchain platform dubbed "ThunderChain," which is built to empower developers to create decentralization applications. Based on the practical Byzantine fault tolerance (PBFT) consensus mechanism, Xunlei boasts about ThunderChain that it can propel processing capacity in the millions of transactions per second.
The company first started growing its corporate cloud service to pull home users in 2014. It developed specific hardware and network infrastructure to eat into idle bandwidth resources that household users were willing to swap with Xunlei, in exchange for various content and gaming applications available on its network. Internet firms such as Xiaomi and online video platform iQiyi are currently corporate customers that are paying to use Xunlei’s cloud-based content delivery networks
Xunlei illustrates that the platform connects its proprietary blockchain with its existing capacity in cloud-based content delivery hosted on a peer-to-peer distributed network. ThunderChain as a new product launch is mounted upon a present blockchain platform that it has been using to generate its custom token, LinkToken, since October 2017.
The release initially caused the company's stock price to jump from $4 to over $20 in November of last year, but it nosedived again to around $10 in January following a Chinese financial self-regulators accusation that the product launch was, in effect, an "initial miner offering." The agency, China's National Internet Finance Association, published a statement in January, warning residents over activities that require users to purchase hardware in order to participate in a token-generation process and have the substance of an ICO - a fundraising method explicitly forbidden by the Chinese authorities.
The blockchain platform will be introduced in early May to individual developers and SMEs to build decentralized applications. The number of LinkToken has a threshold limit of 1.5 billion and users who share their idle computing resources have so far accumulated less than a third of that total.
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