Category Archives: baidu

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Bitcoin Interest on Google at Highest since February 2018

Bitcoin Interest on Google at Highest since February 2018

Bitcoin’s unexpected rally in 2019, after over a year of bearish sentiment, has got people moving into “fear of mission out” (FOMO) mode, apparently, and Google seems to agree. Recent data from Google Trends, published on Crypto Globe, shows that search interest for Bitcoin has hit its highest level since February 2018, the period when the bear market seemed firmly set in motion.

Google trend data for the search keyword “Bitcoin” shows that the levels of interest today are the highest ever seen since February 2018. Coincidentally, Bitcoin had been trading at around USD 8,000 at the time, after dropping from USD 11,000. Today, Bitcoin trades at around USD 7,950 after only months ago meandering around USD 4,000.

Search interest in Bitcoin and other cryptocurrency related keywords generally correspond with the price of these digital assets. During the bear market of 2018 and early 2019, interest was dropping off along with search trends, compared to highest-ever numbers running up to the bull run of 2017.

South Africa leads in terms of most inerest, followed by the Netherlands, Slovenia, Austria, and Nigeria. Binance has also enjoyed a lot of interest.

In China, giant search engine Baidu is showing similar trends, with local news source cnLedger showing BTC as among Baidu’s hottest emerging keywords.

Due to the recent price surge, #bitcoin tops today’s Baidu hottest emerging keywords. (Baidu is like China’s Google)

— cnLedger (@cnLedger) April 4, 2019


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Baidu’s Tokenized Game Is Set for Launch

On Friday, Baidu – the Chinese search engine announced its plans to launch a native blockchain game in a week’s time. The announcement comes barely a few days after revealing its blockchain proprietary platform called SuperChain.

Baidu’s reputation in blockchain projects has been on the rise over the past few months following recently launched blockchain-as-a-service (BaaS) platform. Now, Baidu is going to launch another blockchain project termed Du Yuzhou, as confirmed by their website.

According to the company’s announcement, Baidu’s new game is aimed at experimenting on the society. The game termed Du Yuzhou which literally means “The Universe” is a simulation of a journey in a space powered by blockchain where users receive elements- much more like tokens- which they will eventually use to build their own planet.

The tokens represent crypto-like assets which are generated on the blockchain. According to the company’s official website, these elements will be availed through airdrops. As the users play, they will be accumulating more tokens eventually building their own planet. Moreover, as the planet grows, its gravitational force increases pulling more elements that unlock additional game features.

Like any other crypto assets, the tokens earned from the game can be traded. However, besides trading, the play aims at creating awareness and experiencing features that come along with playing with crypto-like assets, mentioned one of the Baidu’s representative.

Even though the company did not disclose details of the blockchain platform for launching the game, Baidu is not on the verge of launching another blockchain project but a digital society experiment. The project details remained scanty, but the Du Yuzhou app is expected to be launched in the coming week, said Baidu’s representative.

In other news, the Baidu’s Blockchain Chief Scientist, Xiao Wei said that the SuperChain platform has been scaled to process up to 100,000 transactions every second. Xiao also revealed that the Baidu’s SuperChain platform is compatible with multiple cryptocurrencies including Ethereum and Bitcoin. Baidu joined other giants in the blockchain-as-a-service platform.

Last month, Baidu launched its “Wikipedia” which uses the blockchain technology to log revisions in a move aimed at revolutionizing traceability and transparency of online services.

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Chinese Tech Giant Baidu Develops ‘Super Chain’

China-based technology giant Baidu has announced the development of a new technology called Super Chain which it says is an energy-efficient blockchain protocol. In general, Baidu has been embracing and experimenting with blockchain technology. This news may indicate that Baidu is looking to release its own cryptocurrency.

Baidu is essentially the Chinese version of Google, and 76% of Chinese internet searches occur through Baidu’s platform. It has a stock market cap of USD 99 billion and is the first Chinese company to be included on the NASDAQ-100 index. Baidu has net income of CNY 18.3 billion (USD 2.85 billion), a little less than Google’s income of over USD 10 billion USD per year but still significant.

Super Chain is supposed to allow the easy addition and removal of consensus mechanisms from its blockchain. For Bitcoin and Ethereum, it is very difficult to change consensus mechanisms, since that requires a hard fork which can be quite disruptive.

According to Baidu, easy modification of consensus mechanisms can help solve the cryptocurrency mining energy problem. Currently, Bitcoin mining uses 70 TWh annually, 0.3% of all electricity usage in the world, and equivalent to the annual electricity usage of Chile. Bitcoin hash rate and electricity usage are rising exponentially long term, and is seen by some as negative for the environment or electricity prices if this trend is left unchecked.

Baidu says Super Chain will be able to process 100,000 transactions per second, far exceeding the theoretical maximu of 10 transactions per second that Bitcoin can process. The Bitcoin Lightning Network has been developed to possibly handle 100,000 transactions per second or possibly millions and billions, but this has yet to be realized and the technology is experimental at this point.

Although there weren’t many details included in Baidu’s Super Chain announcement, it is a strong indicator that it may be about to release its own cryptocurrency and could herald the beginning of other mega corporations developing their own cryptocurrencies.


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