Bystack: Looking for killer "assets" (on)

Looking for the killer app ” is a blockbuster blockchain slogan and a sword of Damocles hanging over the heads of countless blockchain entrepreneurs. Entrepreneurs worry that if they take a step later, they will be grabbed in front of others. Regrets.

However, there is a new competitive logic in the blockchain circuit. We not only need the killer "application", but also the killer "assets" .

First, from the "killer website" to the "killer application"

If you were born before 2000, you will be impressed by the tide of PC Internet migration to the mobile Internet. This wave has spawned most of the existing Internet unicorns, and people's lives have been greatly changed.

The most obvious change in this wave of change is that the mobile phone screen replaces the computer screen and becomes the largest terminal for people to access the Internet. Who can occupy the "smaller" screen of the mobile phone, who can occupy the "bigger" world of mobile Internet? .

Obviously, many smart people thought of this at the beginning. These prophetic entrepreneurs have a simple understanding – " to change the computer's website into a mobile phone's website ."

This is a very intuitionistic instinct, because the mobile phone and the computer have a very different difference, the screen is smaller, the interface becomes vertical, and the original computer website is opened directly with the mobile phone, the speed is slow and the interface is ugly. Entrepreneurs cannot tolerate and quickly take rehabilitative actions.

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Figure 1-1 Mobile version of the portal

Soon, we saw a batch of "websites" on mobile phones. These sites are prefixed with "WAP" instead of "WWW". The font layout is optimized for mobile phones. The above picture "3G Portal" is a smash hit in 2006. I received an investment of 20 million US dollars from IDG. At that time, I was able to find a lot of content that was not found on the computer and was in line with the mobile phone format.

However, entrepreneurs quickly found that doing a website on a mobile phone was not as smooth as expected. Although the website interface of the mobile phone was well watched, the user's behavior habits did not follow up. People use their mobile phones only to visit the website occasionally. IDG is wrong, and the entrance to the mobile terminal is no longer a "website."

Later, we know that the real rise of mobile phones is "applications" / "apps", and only "applications" can adapt to the characteristics of the mobile Internet.

The PC stage webpages show more content on the pure line, while the mobile internet stage application is closely integrated with people's online to offline, in social (WeChat), service (Mei), travel Areas such as (Drips) have emerged as new things that touch our real-world interaction needs.

In the mobile Internet phase, the killer app is king.

Second, the new competition logic: agreement

What if we move the “killer app” of the mobile Internet stage to the blockchain? This is another obvious recognition of intuitive inertia, but given the experience of the mobile Internet, we just need to be vigilant about inertia perception.

In fact, there are at least two obvious differences in the blockchain.

First of all, the version of the blockchain world is very slow . Take the Bitcoin blockchain as an example. Today, ten years after its creation, it has been updated to the 0.18.0 version, less than the 1.0 official version, and most of the version iterations are limited to the details. . Even if the blockchain project version such as Bytom is updated, it is far lower than the version update speed of the Internet.

Secondly, the blockchain world operation interface is a “wallet” . The basic unit of people touching the blockchain is the transaction, contract, and the basic account is the address, public key, private key, etc., which is different from the Android or Apple system in the mobile Internet stage. of.

There are deeper differences between the two obvious differences. That is, the blockchain is a protocol . In the blockchain list held by Babbitt in March 2018, he proposed:

The question of whether Bitcoin will be replaced by competitors is the typical Internet thinking. Blockchain should not be seen as a kind of software, but as a protocol, and the value of the blockchain protocol layer exceeds the application layer. .

This is a particularly inspiring formulation. With this in mind, we can understand why the version of the blockchain world is so slow and small that the protocol is a top-level architecture and the top-level architecture must be carefully iterated forward. .

And, the blockchain is an agreement about value . The construction of the blockchain at the beginning requires a consensus bearer. These consensus consume resources and carry the transmission of value. Whether it is a transaction or a contract, the security of all blocks is like a safe, passing valuable transactions. .

The protocol attributes of the blockchain make it impractical to move the mobile Internet stage applications (such as Meituan, Didi) directly to the blockchain. Just like when doing websites on mobile Internet terminals, what we need may not be The killer app, what we need is a brand new thing – killer assets.

Third, from "killer application" to "killer assets"

Only from the perspective of assets, can we sort out the historical context of the development of blockchains, and only analyze them from the contradictory dialectics of assets and applications, and we can see the future trends.

The attributes of the blockchain protocol determine the differentiation into two routes when developing the blockchain. One is to optimize the efficiency and expandability of the protocol from the application point of view (including the establishment of a multi-layered architecture); From the perspective , optimize the security and decentralization of the protocol.

The competition between these two routes has intensified in people's unconsciousness. This competition can be roughly divided into three stages.

The first stage: 2008-2013 only the killer asset route

At this stage, the blockchain project is represented by Bitcoin and Litecoin. At this stage, the blockchain focuses on the assets themselves. The token itself is metaphorized by assets such as “gold” and “silver”. People have gradually built up that bitcoin is a kind of “electronic cash” (the definition of the bitcoin white paper – Electronic Cash) or can be speculated as an asset. consensus. At this stage we can see that Bitcoin has greatly inspired people's understanding of decentralized assets.

And, it's worth noting that assets can exist independently of the application (I'll outline them in the next article), although most people don't really use Bitcoin, even Bitcoin transactions mostly occur in the center. Most people do not even have a private key. However, it does not prevent Bitcoin from becoming a killer asset, just as everyone does not trade gold but does not affect the asset status of gold.

The second stage: 2014-2018 killer assets and application routes interweaving

After 2014, Ethereum was officially born. If the project represented by Bitcoin and Litecoin is taking the asset route, then the project represented by ETH and EOS is the application route. Correspondingly, this bitcoin Litecoin More is seen as an asset, and ETH, EOS token itself is more treated as a fee.

The birth of Ethereum greatly inspired people's understanding of decentralized applications. It was found that not only assets can appear on the blockchain, but the original contract can also be. Interestingly, at this stage, the application route did not run a successful application. The only thing that was successful was the asset distribution represented by ERC20 on the Ethereum.

The third stage: the killer-level asset route is mainly from 2019 to the present, but it is integrated with the application route.

If you look back 2019 from the future, I think the white papers with two projects are dazzling, and one is the famous Facebook Libra white paper. There are so many readings about Libra. You can search Libra on Babbitt. Here is a brief narrative here. Libra wants to be a “simple, borderless currency”, but Facebook has another project that deliberately keeps a low profile. — Calibra .

Calibra is a "wallet" project that is equivalent to a global banking license. That is to say, Libra is an asset, Calibra is an application, assets and applications are first combined and have the potential to kill.

The second dazzling project is the Bystack project . Although the author is a stakeholder, it is still said that this project, along with Bytom, builds a system of asset and application integration.

Bytom is to protect the underlying chain of the asset itself from the perspective of assets. Bystack is a blockchain that is based on the expansion of Bytom to meet the asset application attributes. All assets are created on Bytom, and the final delivery is realized by Bytom. The flexibility and expansion in the middle. Sex is complemented by Bystack. With these, we do not particularly emphasize the existence of DEFI, we emphasize the asset itself – blockchain points, game assets, blockchain legal assets.

Fourth, summary

Although the mobile Internet in 2005 is full of traps, it can't stop people's progress. The blockchain in 2019 is also full of traps and opportunities. We are faced with a choice of route, killer assets or killer applications, what do you say?