PANews news on June 11, according to Cointelegraph, the MultiversX smart contract platform has demonstrated the huge potential to increase the transaction throughput of existing L2 blockchain networks by up to 100 times through its latest Sovereign Chains technology. This BaaS (blockchain as a service) solution allows L2 networks to inherit MultiversX's scalability. MultiversX CEO and Co-founder Beniamin Mincu stated that by leveraging Sovereign Chains, existing L2 networks can increase their Transactions Per Second (TPS) and smart contract TPS by up to 100 times. During the first public demonstration of Sovereign Chain, the network achieved a throughput of 77,000 TPS. This performance is nearly 77 times faster than the maximum practical throughput of industry leader Solana (1,053 TPS). Mincu stated that the MultiversX team is currently focused on surpassing the threshold of 100,000 TPS. In addition to increasing throughput, the sovereign chain can also improve the interoperability of L2 built on Bitcoin, Ethereum, and Solana. Mincu believes that this chain-based native interoperability can unleash the true potential of decentralized blockchain networks.

PANews February 1 News Official news, recently, IOST announced that it has officially joined Hong Kong and will launch "IOST BaaS (Blockchain as a Service) Soluion" this year. is a comprehensive range of entrepreneurial support, including the Cyberport Smart Living Incubation Programme, to help entrepreneurs and start-ups accelerate their business growth.

According to Golden Finance, on November 25, Hangzhou's new generation of urban digital infrastructure, Zhijiang Chain, was officially released at the second Digital Trade Fair. Zhijiang Chain is positioned as the main chain of Hangzhou and will be the "main artery" carrying the construction of "Data Hangzhou". The underlying layer of Zhijiang Chain adopts blockchain, privacy computing, security risk control and other technologies to set up several data circulation channels in multiple business scenarios, promote efficient collaboration between multiple parties in the urban data network, and stimulate the vitality of Hangzhou's digital economy. It is reported that Zhijiang Chain has created three major platforms of infrastructure, management and openness, as well as six functional modules: blockchain BaaS, unified management, unified cross-chain, trusted data collaboration, open door and digital cockpit, which can reduce the cost of facilities and services required to establish the underlying blockchain and make application development more convenient and cost-effective.

PANews reported on November 10 that the Shanghai Municipal Commission of Economy and Information Technology and the Municipal Commission of Commerce issued a notice on the "Implementation Plan for Promoting the Development of Productive Internet Service Platforms Empowered by Blockchain and Large Model Technology", the main tasks include building a blockchain public infrastructure service platform, building a blockchain cross-chain public service platform, deepening the construction of blockchain technology application scenarios, and promoting the development of large model technology empowerment platforms. To build a blockchain public basic service platform, the plan points out that it will promote the R&D and deployment of blockchain-as-a-service functional modules such as chain alliance management, business chain management, background management, contract management, operation and maintenance management, statistical analysis, etc., provide efficient, easy-to-use, scenario-based, and intensive basic services, reduce the technical difficulty and cost of using blockchain on the business side, and build general service modules such as regulatory services, distributed identity authentication services, and data services to support the innovative application of blockchain. Regarding the creation of a blockchain cross-chain public service platform, the plan points out that technical research will be carried out in the fields of notaries, relay chains, hash locks, etc., and cross-chain public service platforms covering different types of consensus mechanisms, smart contract editing and operation, ledger storage standards, cryptographic algorithms, identity authentication and management, software and hardware collaboration, etc., will be supported to build blockchain BaaS platforms and large-scale industry application scenarios, realize the interconnection of blockchain infrastructure in the city, and promote the credible flow of value on heterogeneous chains.

According to Golden Finance and Economics, the Shanghai Municipal Commission of Economy and Information Technology recently issued the "Implementation Plan for Promoting the Development of Productive Internet Service Platforms Empowered by Blockchain and Large Model Technology" and "Several Measures for Promoting the Innovation and Development of Artificial Intelligence Large Models in Shanghai (2023-2025)", which requires Shanghai to focus on research and development of cross-chain public service platforms covering different types of consensus mechanisms, smart contract editing and operation, ledger storage standards, cryptographic algorithms, identity authentication and management, software and hardware collaboration, etc. Support the creation of blockchain BaaS platforms and large-scale industry application scenarios, realize the interconnection of blockchain infrastructure in the city, and promote the trusted flow of value on heterogeneous chains. Shanghai will also set up a large model corpus data alliance to make full use of blockchain and other technologies to deepen the contribution-oriented incentive mechanism and evaluation and certification mechanism. Relying on the Shanghai Data Exchange, a corpus data trading sector was established.

Golden Finance reported that on September 4, the international authoritative research institution IDC released the "Market Share of Chinese BaaS Vendors 2022" report. The report shows that Ant Group ranks first with a market share of 26.6% with Ant Chain, followed by Tencent Cloud and Huawei Cloud with 16.3% and 11.4% respectively. It is understood that this is the third consecutive year that Ant Chain has ranked first in China’s BaaS market.

Jinse Finance reported that the research institution IDC released the "China BaaS Vendor Market Share Report, 2022". The IDC report shows that although the market will be negatively affected by the economic downturn and exchange rate fluctuations in 2022, the overall scale of China's blockchain market will continue to rise. situation. IDC research shows that in 2022, China's BaaS market will achieve a market size of US$230 million at a growth rate of 20.8%, and the Chinese government industry blockchain software market will reach a market size of US$220 million, with a market growth rate of 37.3%. The resilience of blockchain technology and its inevitability and necessity as a trusted infrastructure in the development of data elements. At present, China's blockchain industry has entered a deep-water period. The superposition of emerging technologies to realize the closed-loop circulation of data credibility and the development of platform construction driven by scenario applications have become an inevitable development trend of the blockchain market.

Jinse Finance reported that the latest report released by Technavio stated that the blockchain technology market will grow by US$11,047.61 million between 2022 and 2027, with a compound annual growth rate of 32.72%. The rise of blockchain-as-a-service (BaaS) has further fueled this growth by ensuring secure record keeping and transparency. Despite higher initial costs, blockchain's potential to mitigate grid failures and ensure data security continues to drive its adoption and expansion in the energy sector. The European region, especially the UK, Germany, and Russia, will be the focus of this growth, contributing 38% to the overall growth of the market.

According to PANews news on July 12, the State Internet Information Office released today the twelfth batch of 250 domestic blockchain information service names and filing numbers in accordance with the "Blockchain Information Service Management Regulations". Including Yuanyang Digital Collection SaaS Platform, CCTV Chain, Tencent Cloud Cross-Chain Service Platform, Strait Culture Platform, Wojia Metaverse Platform, Yuandao Data Collection and Yunxiang Blockchain BaaS Platform, etc.

Jinse Finance reported that Seracle, a blockchain-as-a-service (BaaS) platform, announced the launch of the Web3 Incubation Center "Home of Web3", which will provide up to $100,000 in support for projects selected to build Layer 1 and Layer 2 blockchains. The goal of this incubator program is to foster a collaborative environment where selected assignments will facilitate access to premium co-working spaces to help scale Web3 missions, in addition to professional guidance from Seracle's skilled team. (cryptonewsbtc)

PANews news on May 29, according to Cryptonewsbtc reports, White Shark, an Indian Layer 1 public blockchain based on artificial intelligence, announced the successful completion of a round of financing of 16 million US dollars. Investors were not disclosed. The investment will be used to further develop and deploy its pioneering blockchain technology, which aims to revolutionize industries with its speed, intelligence and versatility. According to the official website, the Beta version of the White Shark test network will be launched on July 31, 2023. White Shark provides a variety of services (BaaS) and platforms (PaaS), all of which are built on blockchain technology and are easy to integrate across platforms. The 3 A's and S's that White Shark follows are Accessibility, Adaptability, Affordability, Safety, Sustainability and Speed.

According to PANews news on May 28, according to Digital Journal, Sparq Labs, a blockchain-as-a-service (BaaS) startup, announced the launch of a $18 million Series A round of financing. It is reported that SparqNet is a blockchain-based decentralized computer network protocol that supports the construction of subnets, application chains and decentralized applications, and includes a bridge called SparqNet Gateway, which can be used to process cross-chain transactions. The company completed a $680,000 seed round six months ago.

Odaily Planet Daily News Blockchain-as-a-Service (BaaS) startup Sparq Labs announced the launch of $18 million in Series A financing. It is reported that SparqNet is a blockchain-based decentralized computer network protocol, which includes tools and services for building subnets, application chains and decentralized applications with higher transaction speeds, and includes a network called SparqNet Gateway's bridge, which is able to handle cross-chain transactions from any blockchain.