Wired News - Chinese Tech Company Xunlei Launches New Distributed File System Primarily for Supporting Blockchain Platforms

LONDON, UK / ACCESSWIRE / July 10, 2018 / If you want access to our free research report on Xunlei Ltd (NASDAQ: XNET), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=XNET as the Company's latest news hit the wire. On July 06, 2018, the Company announced that it has launched the ThunderChain File System (TCFS) and three TRC Smart Contract Standards. These are aimed at supporting the development of blockchain applications. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Additionally, the Company declared the winners of the final tournament of the Xunlei Blockchain Applications Global Challenge held in Shenzhen, China.

Commenting on the launch of the TCFS and the three TRC standards, as well as the announcement of the winners of the Xunlei Blockchain Applications Global Challenge, Lei Chen, Chief Executive Officer (CEO) of Xunlei, said:

"Xunlei is committed to amplifying the power of individuals through technological innovation. That is why we introduced ThunderChain File System and other new initiatives as we continue to help developers unleash the real value of blockchain. We are also delighted to see a large number of practical blockchain projects developed during the challenge, and would like to thank everyone for their great contribution."

About the ThunderChain File System (TCFS) and the Three TRC Smart Contract Standards

The TCFS is a distributed file system for data storage and authorized distribution, which is based on Xunlei's proprietary distributed technology and millions of shared computing nodes. The new distributed filing system is aimed exclusively at blockchain platforms, including ThunderChain, etc. The TCFS will allow blockchain developers and enterprises to develop decentralized applications (DApps) with distributed data storage and integration. These DApps will have features like improved capabilities in openness, transparency, non-temper ability, traceability, reliability, security and encryption, mass storage, and authorization.

Xunlei also announced the publication of three ThunderChain Request for Comment (TRC) standards, namely:

• TRC1 (token standard, compatible with ERC20);

• TRC2 (non-fungible token standard, compatible with ERC721); and

• TRC2-1 (authorizable non-fungible token standard).

These standards will enable blockchain developers and companies to reduce costs and build a ThunderChain ecosystem.

About Xunlei Blockchain Applications Global Challenge

The Challenge, which was launched in April 2018, was organized by Xunlei in partnership with Geekbang and was aimed at identifying the best talent and projects in the field of Blockchain. The winners of the Challenge were evaluated on factors like blockchain adoption, technology implementation, commercial value, creativity, and product design. The projects were developed for various sectors like public welfare, healthcare, education, game, social contact, transportation, commodity identification, copyright, etc. The winners had the opportunity to win over RMB 1 million in prize money, as well as receive one-on-one guidance from the panel of experts to fine-tune their blockchain projects in the final stage.

Over 2,000 participants across the world, including China, took part in this Challenge. The winners were selected by a panel of judges consisting of blockchain experts from the industry and the academia, including professors from George Washington University, Tsing Hua University, and Renmin University of China. China Communication Industry Association was the advisor for organizing the Challenge.

The winner of the Challenge was Team Designer. Team Designer consisted of undergraduate students from Zhejiang University and had developed a graphic tool to generate and edit smart contracts. The second place was shared by Team Mirror and Team Share Chain+. Team Mirror's project was a cloud-based blockchain service that provides accounting, contracting, and redemption rights of commodities to small and medium manufacturing enterprises. Team Share Chain+'s project utilized the blockchain technology to provide traceability to ecommerce products on vip.com, which is one of China's leading ecommerce site.

About Xunlei Ltd

Shenzhen, China-based Xunlei is a leading cloud-based acceleration technology Company. It operates one of the most powerful internet platforms based on cloud computing in China, and offers its users quick and easy access to digital media content through the Xunlei Accelerator and the cloud acceleration subscription services. The Company is currently working on extending its products and services to users of mobile devices. The Company has leveraged its significant customer base of Xunlei Accelerator and developed various value-added services to meet a fuller spectrum of its users' digital media content access and consumption needs.

Stock Performance Snapshot

July 09, 2018 - At Monday's closing bell, Xunlei's stock surged 10.48%, ending the trading session at $12.23.

Volume traded for the day: 918.32 thousand shares, which was above the 3-month average volume of 849.89 thousand shares.

Stock performance in the previous three-month period - up 6.44%; and past twelve-month period - up 285.80%

After yesterday's close, Xunlei's market cap was at $812.07 million.

The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.7% at the end of the session.

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