On August 21st, at the POW'ER 2019 Global Developer Conference hosted by Mars Finance, it was shared with the original chain chief technology officer Lang Yu with the title "Blockchain Future: Bystack One Main Multi-Side Architecture". He compared the three public-chain technology routes since 2018, indicating that “extended multi-chain” has the problem of interest in the self-owned chain and other chains, while the “state channel” has great limitations, and the “side chain” may not be The best solution for possible triangle problems. Lang Yu also introduced Bystack's latest developments on the "Federal" design and revealed that the complete architecture of OFMF will be announced in the near future.
The following is a compilation of the content of the speech, which is organized by Babbitt.
- I left the project side and went to the exchange.
- How does Ethereum fall into a technical dead end?
- Dig bitcoin to send altcoin, and jointly mine PoW rivers and lakes
- Over 60 team campaigns than the original chain consensus node, early bird voting over 100 million BTM | Bystack Flint Project Shenzhen Station
- Bitcoin consumes so much energy, are we going to continue to support it?
- Bitcoin and altcoin hoarders can really enjoy the "sleeping" profit?
It is one of the few POW-based projects than the original chain, which fits well with the theme of today's POW'ER. Bystack is a blockchain service platform that is more integrated than the original chain and sidechains. It has a "one main multi-side" architecture.
Historical development is advancing in the alternating choice between fairness and efficiency, from social systems to business models. The traditional Internet giant has monopolized our data to build its own business closed loop. In this case, our efficiency has reached the highest value, but it is difficult to guarantee our own privacy and security, and find a balance of interests. The birth of the blockchain stems from our eagerness for fairness and greater after our pursuit of ultimate efficiency. At the same time, the blockchain has brought about a revolution in the new business paradigm.
The white papers for all blockchain projects are designed to solve the "impossible triangle" problem, namely security, decentralization and scalability. I believe everyone is already familiar with this. The picture below is the three stages of blockchain development.
We can see that the first stage is represented by Bitcoin. It pursues the ultimate security and decentralization, but it does not have high scalability. It can confirm a block in 10 minutes. So in the second phase, everyone optimized and extended two ways, one is represented by Ethereum, the consensus algorithm was improved, the TPS was improved, and a more advanced smart contract was used. The other is the alliance chain, completely giving up the decentralization and pursuing the ultimate in efficiency.
But from 2018 to the present, we find that no matter how the consensus algorithm is improved, it is difficult to meet the needs of practical applications, especially the needs of commercial applications. So one of the ideas of the third stage is to combine "multiple chains" and "more chains" to improve scalability. This is the form of "extended multi-chain" , representing Cosmos and Polkadot. There is a contradiction in this kind of scheme, that is, the game of interest in the self-owned chain and other chains, which is a difficult point in the form of multi-chain.
The other way is the "state channel" , which is a layer of application on the main chain, which means that it does not have its own chain, and there is no mechanism for running a token. People regard it as a tool. If you leave the main chain, the status channel will not exist. The limitations of this situation are very large, and any changes made in the main chain will become difficult, and the state channel will be developed according to the characteristics of the main chain, and will inevitably be subject to the characteristics of the main chain.
Finally, we believe that “sidechain” is a better solution and the most likely commercial means of mass use. What is the "sidechain"? I think it should be clear that there are several characteristics: first, no new currency, no value, only value; second, instrumentality, better scalability, more efficient processing, better commercial application; Gateway, need to link different chains of "homogeneous" and "heterogeneous", which should be considered when designing; Fourth, regional transparency, because the main side chain architecture design can not break away from the middle of the notary or city-state to solve the cross-chain The problem, we can let more participants join the city-state through more open design, make the business logic more transparent, the funds are more secure, and the participants trust each other.
We propose a "one main and multiple side" solution, the main chain POW mechanism pursues decentralization, and the side chain is based on the BFT improved BBFT algorithm to pursue high scalability. Based on such a model, turning our blockchain into a "possible triangle" is the solution we are looking for.
Why is it "one main and many sides"? I want to introduce the architectural features of Bystack.
The first is " main side isolation ", the main chain creates value, the side chain is high TPS, the main chain does not care about the side chain, and risk isolation. Because of the many privacy protection measures on the blockchain, users can still find changes and characteristics of transactions through bypass, or there is a problem of privacy leakage. The only solution is physical isolation, so that you can not access my information completely. Only done in your own ecosystem. If the two side chains are to communicate, they can only be carried out through the main chain. For merchants, there are options, which can be on the chain and which cannot be on the chain.
Secondly, it is “ side-side isolation ”, multi-service separation, privacy protection, and can be implemented asynchronously. In other words, I can modify the implementation of the sidechain according to different business logics and different commercial applications to get the status of business isolation. At the same time, more consensus algorithms can be selected on the side chain.
Finally, it is “ federal management ”, that is, unified rights and responsibilities, legal compliance, single point risk removal, and custom management mode. How to make the federation more open? How to make the rights and responsibilities of the participants unified? This is very important for a main multi-sided architecture. The federation must be composed of multiple parties, and it is necessary to achieve federal management through secure multi-party computing. I will focus on this part.
The federal design is the focus of a main multi-sided architecture, with two main considerations in design. One is more "powerful features" that make it easy for me to set up and manage. For example, there are five people, two people have super authority, three people have ordinary authority, how to deal with different rights and responsibilities of each person? In another case, I can handle a funding channel. The other two may have only 100BTC or 200BTM. If there is a Token in this channel that exceeds this value, he may not have the right to process it. For these situations, we need to design the corresponding architecture so that more people can participate in different roles.
The second is a more “distributed right” . How do we use private keys or other cryptography techniques to allow different parties to disclose the private key even if the private key is leaked, and the hacker cannot completely transfer the funds and cannot destroy the system. . We propose Open Federaton Maeagement Framework, referred to as OFMF, which is characterized by 1. Common management, no single point of risk; 2. Fast access, different chains can be accessed according to the same rules, no license required; 3. Low cost, no need to maintain all chains The state, only responsible for their own concern; 4. Business model, we must create the corresponding business model, through value-added services and transaction fees continue to revenue, so that more people join our open plan.
OFMF is now in the draft stage. In the last few weeks, we will implement the complete architecture and publish it. Please keep an eye on our development progress.