Xunlei and Onething Technologies' ThunderChain Recognized as Outstanding Entrepreneurship and Innovation Project by Xinhua Net

Onething Technologies, the cloud computing subsidiary of Xunlei Limited (Nasdaq:XNET) and a global leader in shared computing and blockchain, today announced that its high-performance blockchain platform ThunderChain has been selected as one of the “Outstanding Entrepreneurship and Innovation Projects”. The annual selection program is organized by Xinhua Net, the online news provider of Xinhua News Agency which is the official press agency of the Chinese government.

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ThunderChain was recognized as an Outstanding Entrepreneurship and Innovation Project by Xinhua Net. (Photo: Business Wire)

Mass entrepreneurship and innovation is a national strategy in China for economic transformation and development, in an effort to facilitate startups and innovation. The award selection of the “Outstanding Entrepreneurship and Innovation Projects” was first introduced in 2016, and is aimed to identify high-quality projects, promote mass entrepreneurship and innovation, and foster economic transformation and upgrading. This year, a large number of companies and research institutions applied for the award for achievements covering big data, blockchain, Artificial Intelligence, Internet of Things, smart cities and other frontier technologies. ThunderChain was awarded on the basis of its blockchain innovation and applications that can promote the development of real economy and smart society.

ThunderChain was launched in April 2018 and is known for its high performance and scalability that can concurrently conduct over 1 million transactions per second (TPS). With ThunderChain, companies and individual developers can easily create large-scale blockchain applications featuring trust, openness, transparency and traceability. In July 2018, Onething Technologies unveiled ThunderChain File System (TCFS), which is based on the company’s proprietary distributed technology and millions of shared computing nodes. It is built specifically for blockchain platforms including ThunderChain and other platforms

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