On July 10th, Odaily Planet Daily, block rhythm BlockBeats. The co-sponsored StakingCon – Staking Eco Conference was held in Beijing as scheduled.
In the roundtable with the theme "Staking's Breakthrough – Current Situation, Bottlenecks and Future", Decold Chinese Community Leader Dominic, former Facebook Research Scientist & IoTeX co-founder Qevan Guo, MultiVAC founder Lu Heng, En-Tan-Mo Scientists Aaron Yuan, Bytom CFO Li Zongcheng and InfPool partner Rudy Lu discussed the core competencies of their projects, Staking's future trends and challenges.
Among them, in terms of the future trend of Staking, all five agree that PoS is the trend of the future. In addition, Dominic, the head of the Decred Chinese community, believes that user education is very important. He said that regardless of any project, the user will be helpful if the user really has some knowledge. Speculative users are actually not helpful for the future development of the project and the planning of the future; former Facebook research scientist, IoTeX co-founder Qevan Guo also pointed out that diversity is a trend of PoS, and the form of Staking is not completely PoS mining also includes Defi, cross-chain, governance and other sectors.
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In addition, Aaron Yuan, the chief scientist of En-Tan-Mo, pointed out the problems faced by the current PoS mechanism: the voting rate is not high; Staking will be more concentrated; security issues, he said En-Tan-Mo is already in the book Specifically explain how each problem will be solved. Finally, InfPool partner Rudy Lu concluded that the current technology of PoS is maturing. As for operational problems, it is necessary to serve the peers together; Bytom CFO Li Zongcheng also reminds investors to participate in Staking: Even if the bull market is coming, everyone will do a good job to protect themselves.
The following is the original round table:
Wang Mengdie: Please give a minute to introduce your business in a short time, and now the business development related to Staking.
Dominic, Head of Decred Chinese Community: Hello, everyone, I am the person in charge of the Decred community.
Former Facebook research scientist, IoTeX co-founder Qevan Guo: I am the co-founder of IoTeX. The IoTeX main network was officially launched in April, and it was launched by all our nodes when it was launched. It is not a project. The target is to run the node. IoTeX was launched two years ago as an open source project in Silicon Valley. Our vision is to connect all physical worlds, including IoT devices, people, businesses, and a variety of virtual assets. .
Lu Heng, founder of MultiVAC: Hello, everyone, I am the founder of MultiVAC, Lu Heng, we can let developers choose high performance, security and decentralization in the impossible triangle. MultiVAC received IDG investment in the bull market tail last year. It has released technical white papers, full-slice spelt books and programming mode purple papers. This is our main technological progress. Next, we will release the main network in the fourth quarter. At present, we are in the test network 2.0 stage, and also launched a Staking activity.
Aaron Yuan, Chief Scientist , En-Tan-Mo: Hello, everyone, I am Aaron Yuan, the chief scientist of En-Tan-Mo. We are honored to have the winner of the Nobel Prize in the development of the project and me. The PhD supervisor participated in this team to work with us. We released a white paper in March 2018. Last month, we were fortunate to be the third IEO project of OKEX. .
Bytom CFO Li Zongcheng: Hello everyone, I am Lee Zongcheng of Bytom. We mainly solve the problem of the expansion of POW. In the second layer network, we use the consensus innovation to get involved in the field of Staking. Now, our node is in the process of hot recruitment, welcome everyone to participate.
InfPool Partner Rudy Lu: Hello everyone, I am a partner at InfPool. InfPool itself is a POS mining pool, which is the super node of EOS, wave field, IoTeX, and also serves as a PoS node.
Wang Mengdie: Thank you for your introduction. My first question is to ask you how to see the development trend of PoS development. And what is the core competitiveness of your own project or public chain in the state of the flower?
Dominic: Decred has a very awkward relationship. Our founders have been in the BTC community since 2010. Later, we got rid of the bitcoin community and found some serious problems: the core development of miners and bitcoin. The rights of the people are too great, which is why Decred was founded.
The pattern of our PoS and the recently fired project PoS is not the same. Like other PoS projects, by holding tokens to become accounting nodes, to verify whether the block conforms to the consensus rules; our PoS mode is to hand over the verification block rights to the user, and the user can replace it with the DCR in the hand. The ballot is used to verify the block. It can also be entrusted to the ticket pool, which is equivalent to a verification node. The advantage of this is that the future development direction of the project is completely handed over to the project. Household.
In the PoS ecosystem, we have been working on the knowledge of the popular science blockchain, including the equity point, lightning network, and the PoS mechanism of each project. Because we believe that whenever a project is truly knowledgeable, it will be helpful to your project, if your users are simply speculative. Or because your high-yield to participate in your PoS, in fact, for the future development of the project and the planning of the far-reaching is not helpful.
Qevan Guo: Let's talk about the trend first. In fact, the form of Staking is not completely PoS mining. It also includes many other Dongpu. Like Defi, cross-chain and governance, it is closely related to Staking. Diversification is A trend in Staking.
Let's talk about our own IoTeX features. The degree of decentralization is very high. The nodes in the node pool are randomly selected and packaged. The speed is very fast, and the speed of DPoS is reached at the same time of decentralization. When the chain is on the line, it is initiated by many community nodes, the purpose is to decentralize; in addition, in the cold start, we also do very well. At startup, we vote on the ether with tokens. Start the main network, used to decentralize the bootstrap our network.
Lu Heng: There is no doubt that PoS is our next trend, and PoW has too many problems. Basically, the public chain will refer to Ethereum or EOS. These two major public chains are moving to this place. This is undoubtedly a trend. How is PoS doing this? Compared to PoW, I think it will be more complicated. It includes not only how you mortgage, how to vote, how to govern, but also the representation of various interests. This is a more complicated mechanism and process.
From my point of view, I think that Staking itself is complementary to the development of the public chain, the development of the community and the development of the entire public chain ecology. Why do you say this? MultiVAC expands by sharding technology and provides a flexible platform based on sharding. This is our main feature. In our opinion, after the sharding, a large number of nodes are needed to support the operation of this shard. We propose a concept – mass mining & mining, and we will try to reduce the participation of miners. A normal dual-core CPU, 4G memory computer can mine, the cost is about tens of dollars, so we can attract a larger community, more miners, more nodes to run more More shards.
Aaron Yuan: Introducing the PoS mechanism is a situation that has a general trend. PoS also has certain problems and requires very fine design. Otherwise, the rights will be more quickly concentrated to the super nodes. We En-Tan The mechanism of the -Mo project is to allow more people to participate in more nodes than to do it by just 21 or even 300 super nodes. In March of this year, we completed the third public beta of the main network, with more than 3,000 nodes joining, and the average block rate was 3.2 seconds, 95% of which had the opportunity to participate. Decentralization is the soul of the blockchain. The accumulation of computing power and equity does not guarantee security. The probability distribution of power and equity guarantees his safety. When everyone’s rights are close, such a The blockchain is very safe.
Our main network will be officially released in September, and I hope to bring you a different PoS – UPoS.
Li Zongcheng: We would have a better community foundation. When we started recruiting, we have more than 50 organizations and individuals participating in our election campaign. At the same time, we officially opened the voting on July 5. At present, the amount of BTM has been locked in 100 million. The enthusiasm of everyone involved is very high. We can see that our mass base is quite good.
The second one we have done this thing is also very technically innovative. The BUW mechanism we have adopted in the main chain has been verified, which can better ensure the issuance and security of the consensus mechanism of the assets, while on the network. The adoption of this mechanism is mainly to solve the problem of asset efficiency when assets and scenarios are combined.
The third is the expansion of innovation. Our framework this time is a multi-faceted framework.
Rudy Lu: The trend of PoS public chain has been proved by data. In the past six years, the market share of PoS has grown at a compound annual growth rate of 50%. By the time the current market value is ranked in the top 50, one-third of the public chain. With PoS, in such an incremental market, InfPool as a node mine pool, it is necessary to provide better services for the B and C terminals of the market as much as possible.
The C-side means that a large number of small players enter the market. We have launched a mobile product. The InfPool mine means managing your Staking on your finger. The highlight is convenience. From the point of view of the node service, instone can not only serve as a node to enter the public chain, but also provide services for other nodes of the public chain. From the establishment of the server to the automatic return of the proceeds to the voter, and then combined with the C-side products, we Is able to provide a complete set of technical support.
Wang Mengdie: Thank you for the wonderful sharing of the guests. My next question is to let everyone talk about the biggest one in your opinion, or actually in the process of business development. What are the challenges and what have you probably done to solve him?
Dominic: The biggest challenge should be the user of each project's perception of the PoS project. If the proportion of speculative users is relatively large, in fact, whether in the short or late period, Staking does not Conducive to the development of the project. I also suggest that each project should not only pay attention to the proportion of users in their own projects, but also share knowledge in the entire industry.
Qevan Guo: The biggest challenge is the ease of use of Staking and voting. The whole process of Staking has a certain threshold. I also found in the process of communication with some people in the community that they are not very good at wallet operation. I am very worried about losing money in the Staking process. It's very important to be simple in the Staking process and let the user do everything with confidence. Our solution is to continue to polish the Staking product like the Internet products and make it very simple.
The second is the problem of the cold start of the public chain. The friends who do the public chain should also consider the safety of the whole process in the process of cold start. The cold start of PoS is a very big topic at the beginning, how to put this topic into question It’s very good, different people have different approaches, and our approach is to use the etheric cross-chain approach to achieve the characteristics we want to achieve with the decentralization of the ether.
Lu Heng: I think the biggest problem with the Staking public chain is that the four words are difficult to adjust. On the one hand, I said that I mortgaged the token to you. If you go up, I can't do it. This is a big problem. On the other hand, it means that the amount of money I hold is different, and the rights are different. Because we are in the Anti DPoS camp, we believe that if we solve the problem of decentralization by means of centralization, this thing is not Make Sense, we admire more people to hold tokens, everyone Join in this network together. Therefore, we are not pledge more and the greater the equity. If you mortgage a lot of tokens, you just have a greater chance of becoming a miner, and it is not necessary to have more blocks. In addition, it is a problem that can be thrown after mortgage. The essence behind it is that you believe in the value of collection or exchange value. Next month, we will release the full version of the economic model Green Paper. I hope that if you are interested, you can discuss it with me.
Aaron Yuan: After the blockchain project was released, it should not be adjusted or modified. If you want to adjust the biggest possibility, it may be a fork. The impact on the chain itself is very large, so at the beginning of the design. Think about such a problem. PoS projects may face several problems: low voter turnout, Staking will be concentrated, and security issues. We raised this issue in the March white paper and gave a solution. Last month we published our book in the Planet Daily, explaining how we solve each problem.
The first is that the voting rate is not high. The core reason is that the voters are waiting for the super nodes to distribute the profit. Our design is that this chain will release the voting proceeds in addition to the mining revenue. The two parts are split. The voting proceeds are composed of two parts, some of which are fixed income. As long as you participate in the voting, the investment of the nodes you vote for will be profitable; there is also a part of the floating income, which is not fixed, and each time there is a big prize. Produced to increase the enthusiasm of voters.
The second point is that Staking is too centralized. We are based on the probability distribution. If I only have one thousandth of the votes in my hand, it means that I have one thousandth of the chance of being selected. We have also set up The equity factor and the time factor are also used to adjust the equity through such factors, and finally the actual situation is mapped to make adjustments.
Of course, this kind of sufficient decentralized node efficiency may be worse. For this we use the preferred mechanism. Each time this node is selected for mining and actual block will have a ratio, this ratio will be mapped to If you go to the next campaign, if you don't complete the task many times, you will actually be eliminated. This preferred mechanism is done automatically on the chain rather than manually.
Finally, the issue of security, DPoS is indeed a super node, always focused on this node is easy to be attacked. We have more nodes involved in this, and we introduced the concept of chaotic sorting. We predict in advance that because of the characteristics of En-Tan-Mo itself, we will release a time tower in August, which is a A true random number generator on the blockchain.
Li Zongcheng: The problems we encountered are different from others. The problem we encountered was the side chain and which application scenario landed. The second challenge is the challenge of ecological construction. How to make participation when doing Staking The nodes are more abundant; the method is also explored step by step. Before we activities, the main push is the original wallet. You can only participate in Bytom through the wallet, then other wallets will be powered by your follow-up support. Some are lacking, and the strategy will be adjusted in time.
Rudy Lu: In fact, the entire technology of PoS is maturing. As for operational issues, some of our service partners, including our InfPool, need to work together. We have also done some science work; there is also a more important issue in the PoS project: the infrastructure model design of the PoS project – how your token issuance rate, how the extension mechanism is designed, and your token How many ratios are given to this node and the node is automatically returned to the voter. This issue has great significance in the long run. If there are some PoS and DpoS projects in the future, you can also find us to cooperate with us.
Wang Mengdie: We each look forward to a market in one sentence or make an advertisement for ourselves.
Dominic: No brain stud.
Qevan Guo: I hope that Staking will enter the homes of ordinary people. Recently we are expanding from 24 to 36 consensus nodes. Welcome everyone to participate in our consensus node to build an ecosystem, thank you!
Lv Heng: It is that we have been explaining throughout the day. Everyone is looking for MultiVAC.
Aaron Yuan: I am very happy to attend the Staking conference, thank Mandy for the invitation, and I would like to meet many new friends here. Thank you.
Li Zongcheng : Participating in Staking as a lot of voters, he is an investment behavior. I am here to give you a risk warning. Even if the bull market is coming, everyone will do a good job in protecting themselves. Self.
Rudy Lu: We serve Dalat and vote for InfPool.