On October 13, the "2019 CCF Blockchain Technology Conference" hosted by the Chinese Computer Society (CCF) was held in Chengdu. Professor Bai Shuo, a well-known financial technology expert and chairman of the Shanghai Branch of the China Computer Society, pointed out in his speech that it was technically Look, the current digital asset trading presents a three-point world, namely: centralization, decentralization and traditional methods. Bai Shuo uses the "pot and bowl" to describe the relationship between the three: the traditional exchange is "meat in the pot, there is supervision", the centralized exchange is "meat in the pot, no supervision", the decentralized exchange is " The meat is in the bowl and there is no supervision." Centralized exchanges have various risks and crises, coordination that is not easy to achieve supervision, and self-discipline that requires public auditing. The biggest challenge is efficiency. In this regard, Bai Shuo proposed to improve through in-chain acceleration, out-of-chain execution, clearing and divestiture, and drawing on the advantages of traditional exchanges, successful public links, and Internet e-commerce. Finally, Bai Shuo proposed the concept of “combination and mining” in the decentralized trading mechanism.