We Chat shut down a Block-Chain app running on their messaging app. The Chinese multi-purpose messaging and social media application was evolved by the Chinese multinational investment company named Tencent Developers.
- We Chat Logo states “Much better, much more popular, much more user-friendly.”
- WeChat is one of the world’s largest platform with more than 1 Billion active users worldwide. This News was reported in recent News only.
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WeChat started as Tencent’s mobile messaging app.
- Tencent CEO Pony Ma in an interview at today’s National People’s Congress explains that WeChat’s monthly active user had passed 980 million, a significant 15.8% increase compared to the same period of the previous year.
- With the success and encouraging mobile wallet and mini-programs We Chat has since then evolved and become more than a messaging app. It created an ecosystem of its own. The mini-programs that include features across different categories such as e-commerce, gaming, and food delivery which has done an effective job of keeping users within the messaging app.
The china’s largest online social network released a statement claiming the application was suspended due to services that were not open to the platform.
To add while in the press conference We Chat Executives revealed that “Xiao Xieyi has been suspended due to violation of the service. We apologize, the content of the program has been suspended due to the fact that the content is not authorized on the platform.
The Mini Program was launched last Wednesday .Also called as Xiao Xieyiwas developed by Beijing based Block-Chain Company called Niuco Box. This Mini Program is also termed as Mini Protocol.
However the application which was actually developed by Tencent suspended the Programme within one day.This News first appeared in Chinese business news outlet Caijing.
The tool which is developed by a Beijing-based Block-Chain as a service platform called Niuco Box would encrypt and record agreements on a Block-Chain for a fee. The funds raised through the app would pay miners who write transactions onto the network underpinning the application.
Block-Chain app allowed creating contractual agreements between WeChat users.
This operation would take 3 minutes and cost 3 yuan ($0.47 USD) for the service fee. The app utilizesWeChat’s unique ID and makes certain about the reliable transfers between two parties based on identity.
The user would enter the contents of the agreement and forward it to the recipient after paying the fee through WeChat. Once both parties agree to the contract, it would be recorded on the Ethereum network.