TechFlow news, on July 14, at the "2022 Trusted Blockchain Ecosystem Conference and First Trust Technology Conference" hosted by China Academy of Information and Communications Technology (CAICT) and the Trusted Blockchain Initiative (TBI), Dr. Li Wei, founder and CEO of Quchain Technologies, released two whitepapers titled "Consortium Chain Operation and Governance Framework" and "Best Practices for Consortium Chain Operation and Governance Framework."
The "Consortium Chain Operation and Governance Framework" introduces an innovative operation and governance framework for consortium chains, aiming to build an open consortium chain backed by technology, compliant with regulations, supervisable, self-governable, and sustainably developing, establishing a multi-centric, regulatable governance mechanism. On one hand, it meets legal and regulatory requirements regarding data security, manageability, and controllability; on the other hand, it incentivizes participants who wish to operate blockchain nodes to join the node operation process through economic incentives, truly realizing a blockchain infrastructure that separates blockchain from applications, ultimately achieving decentralization of the blockchain network. The "Best Practices for Consortium Chain Operation and Governance Framework" highlights operational systems and roadmaps such as Redao Chain (HyperRedox). Reportedly, Redao Chain is technically supported by Quchain Technologies, while Hongdong Technology serves as the principal responsible party and operator. Built upon Quchain Technologies' internationally leading underlying blockchain technology, Redao Chain has completed filing with the Cyberspace Administration of China and is currently recruiting node participants.
