Babbitt reported on the 13th, at the 2019 CCF blockchain technology conference, financial technology expert Bai Shuo used the "pot and bowl" to compare traditional transactions in a speech entitled "Preliminary Study of Decentralized Trading Mechanism" Centralized exchanges and decentralized exchanges. He said that the traditional exchange is "meat in the pot, there is supervision", the central exchange is "meat in the pot, no supervision", the decentralized exchange is "meat in the bowl, no supervision." He pointed out that centralized exchanges have various risks and crises, that it is not easy to achieve regulatory coordination, and that self-discipline can be publicly audited. Decentralized exchanges can solve these problems, including through-chain acceleration and out-of-chain. The challenge is to improve the efficiency of execution, clearing and settlement. Finally, he proposed the concept of “combination and mining” in the decentralized trading mechanism, including (1) separation of execution and verification verification; (2) implementation of the integration by the out-of-chain plug-in, and verification of the contract by the chain contract (3) Who will first succeed and who will share the benefits of the service.