Wu Zhenqun, CEO of Wuzhen·Zhi block network: Formulate an equality mechanism to improve the high availability of blockchain and make everyone mine at home

On November 8th, the “2019 World Blockchain Conference·Wuzhen” hosted by Babbitt was officially opened. The conference gathered more than 100 global blockchains, digital assets, AI, 5G experts and scholars, and technical geeks. Opinion leaders and founders of popular projects, with the theme of “application unbounded”, explored the application of blockchain, technology frontiers, industry trends and hot issues, and promoted blockchain technology and industrial innovation.

Wu Zhiqun , CEO of Zhibang Network and former chief architect of big data of Alibaba Security Department, delivered a keynote speech on "Commercial Alliance of Privacy-Based Privacy".

1. To truly solve the problem of blockchain landing, it is necessary to control algorithms, high availability, scalability, and to develop an industry standard similar to Alibaba "9999" and data collaboration under the chain.

2. In the field of zero-knowledge proof, there are many problems such as the speed of computing, the increase of the final data storage, and the high concurrency of the transaction. However, Zhiqu and Professor Hu Honggang of Zhongkeda have jointly researched and found some solutions. In addition, the smart block deploys more than 1,000 nodes around the world, solving router penetration and peer-to-peer problems. As long as there is a computer at home, everyone can mine.

3. The decentralization of Bitcoin emphasizes that everyone is equal, but in fact, a set of equal mechanisms should be developed, rather than a system of equality for all.

4. In the plastic block trading and financial leasing industry, Zhibang uses the blockchain to solve the practical application problems of enterprises.

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The following is the full text of the speech, Babbitt finishing: blockchain large-scale is known to everyone in 2007, to this decade. The advantages and disadvantages are still these: 7 seconds out of block, 10 minutes a piece, only 7 transactions per second, still today. Because of these shortcomings, it brings the advantages of high security and decentralization. In 2018, I was fortunate enough to participate in the Babbitt Internet Conference. I saw that we have solved the impossible triangle problem and have many applications. Let me know, usually open a hackathon marathon, give a few college students a token, let them do a bunch of APP, and later found that they choose the APP principle is to do a beautiful LOGO. As for the use of this app, we will review it today and find that there are few apps on the chain that can be used.

In fact, everyone has also seen novelties such as privacy protection and zero-knowledge proof. This was originally a very professional word in the scientific and technical world. As the blockchain has grown over the past two years, every café has heard this buzzword. Decentralization requires stable and robust development, and everything cannot be regulated. I barely saw a public chain or a coalition chain, mentioning how we are doing regulation. The currency and time flowing above, if there is money laundering, what should I do? The general answer is that this is not within our consideration.

Smart block network technology system

Consensus algorithm Chiron

The policy has been blowing, and there are more people paying attention to the blockchain. Blockchains can really solve problems by landing, and what are the solutions? Blockchain technology is really possible to commercialize. If you have an understanding of the blockchain, I will not say it. You have a good control algorithm, this is required, and there is high availability. We have not mentioned these requirements in the blockchain before. I am in Alibaba. There is a standard "9999" inside Alibaba. The system availability for one year is “9999”, 7×24 hours a year, and only 5 minutes a year is unavailable during the day and night. This is the “9999” standard. The blockchain has not established such a standard. If the blockchain system is commercialized, it can't just be said to go to the center, but also to say the availability and scalability under the premise of the decentralization. In addition, it involves the data coordination under the chain, it is impossible for all data to be stored in the blockchain. A single bitcoin accounting has already stored such a large amount of data, and all the machines are exactly the same, how much data does it have to store? You can imagine it. Now, many blockchains say performance is millions, but today Alibaba's performance is only about 20 million. Everyone knows how much data Alibaba stores, and that amount of data is not likely to be stored in a common computer room. It’s just that these things are all in the ears, and we’ll just tell the story. Finally, the government wants to see how the blockchain development needs to be supervised.

Chiron's consensus algorithm Chiron combines VRF and BLS with two cutting-edge cryptography techniques. Chiron is 30,000 TPS per second, a block of 10 megabytes, and it is almost unrealistic to spread on the Internet. If you put a block back to Bitcoin one trillion, what its data can be, you can go and see.

31 This is some data of the wisdom block, 3 seconds can be blocked, the consensus TPS reaches 3,000. What are our excellent consensus algorithms, each with its own advantages and disadvantages. Chiron combines the two, has applied for 4 patents, and has more than 20 patents pending. Later, I really have to rely on patents to protect myself and build a patent wall.

Bitcoin is a decentralized system, but is it worth making a completely decentralized system? No. The reason is that a total of 21 million pieces, halved in 4 years, 10 minutes out, this is decided by Nakamoto, Nakamoto is dictatorship. The true meaning of his decentralization is time. Nakamoto has developed this set of rules, and all people follow this set of rules, including myself. The real value of the blockchain is that the prince breaks the law and the same crime. I believe that senior leaders can see the real benefits of the blockchain and hope that the government and enterprises can develop blockchains and make blockchain technology commercialized as soon as possible.

Let me talk about the composition of the intellectual chain of the intellectual union. The decentralization of Bitcoin emphasizes that everyone is equal. In fact, we found that this is not the truth in our observation of life. It is unreasonable to make two people rich and poor. Just saying, I am making a set of rules. Under this set of rules, people who work diligently and hard can get rich. As for poor people, you may have less income this year. If you don't love labor, sorry, you can only live by charity. Develop an equal mechanism, not everyone.

For Chiron of Chiba, we focus on creating such a mechanism. You can quickly increase the permissions and have more discourse power nodes in the system. If you don't work, then it's okay, you go to make a small node.

2. Privacy account

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This is some technical details. I have seen some teams working at home and abroad. There are a bunch of questions to be done with zero knowledge. I will throw this question out today.

If you use zero-knowledge proof to protect your transactions from being seen by others, then your computing speed will be greatly reduced, and the current data storage will be greatly increased compared to the current data system, and the load will be high concurrency. This is almost impossible. Everyone is saying zero knowledge proof, you ask what the amount of data is, how the performance is, no one is willing to answer. In these respects, we have also done some work, similar to the agreement between bulletproo and sigma. In some cases where a very strong password wall is not required, as long as the transaction is secure. Professor Hu Honggang from China University of Science and Technology is our long-term cryptography consultant. We will publish a co-signed article in the top international academics within 1-2 months. This article is about how to apply zero-knowledge proof and zero-knowledge protection technology to the block. chain.

3. Efficient multicast network

How to improve the true high availability of the blockchain? Can't mine at home? How to solve the router penetration problem? Now, bitcoin mining uses professional mining machines, and the home can not dig, there is no problem. We have solved the problem of router penetration and peer-to-peer.

34 3 This is the current data. We deploy more than 10,000 nodes worldwide, 70% of which are in China, but all are deployed in Australia, the United States, and Southeast Asia. If anyone is interested, you can add a WeChat look. As long as there is a computer in the house, you can mine under the official website.

33 This is some specific technical indicators.

Blockchains will increasingly emphasize financial attributes. Bitcoin is 6 irreversible, each piece is 10 minutes, and bitcoin is irreversible after 10 minutes, which is theoretically true. We have not been able to make such assumptions in order to solve the application in the financial field, so we have introduced some mechanisms similar to curing. With it, in 150 seconds, as long as this block is confirmed, it is impossible for everyone in the world to overthrow this matter.

Application case and future roadmap

Application is unbounded, we use the blockchain to solve the practical application problems of the enterprise. Zhejiang Yuyao has a plastic block trade , similar to the combination of spot and futures. Plastics are big traders, and you can eat this list when you see the right price. If you think that the futures will fall, sell the list. The real user unit is the last layer. From the production of plastics by the source manufacturers, there will be a lot of traders in the middle of the plastic dispatch. Each trader is a combination of spot and futures. It used to be very traditional. I called a phone number saying that the price of 8500 would be 20 tons. Maybe after 5 minutes, the price fell. Just say, the contract is still re-talking. If the price goes up, it can't increase the price. Such an agreement makes traders have a headache. If the two transactions are combined on the blockchain, the right is stored entirely on the chain, and no one can change, including the transfer of the right, which is a good application example.

Another case is to solve supply chain finance problems, especially for the financial leasing industry. There is a common problem in the financial leasing industry – no money. If I want to rent a computer to a company, but the company that rents the computer has a problem, the money to buy the computer is a one-time expenditure, but the rent is collected on a monthly basis, there are problems with the account period and funding holes. I can make a wealth management product. This wealth management product is to rent a computer. If one day rented a computer business to lie to my computer, he got the most computer, which is very scattered, each company rents 5-10. There is one company running, it is impossible for so many companies to take my computer to run. In this way, I can make a wealth management product, let me make the difference between the cost and the rent, and share it with the willing investors. The entire computer is transferred, depreciated, rented computer companies, leases and other process data through the chain, if I want to sell products, it will be very clear about the status quo of the product.

Let the whole application develop and eventually need a technological revolution. In the next 1-2 years, we will focus on the underlying performance and privacy protection, combined with more cross-chain, real-name authentication privacy protection and other services. Passing real-name certification, there is more power in the chain. If you don't do real-name certification, you can see how much money is on this account by transferring money through Bitcoin in the chain. If you do privacy protection, you can transfer money through our system and real-name certification, and others don't know the transfer amount. If the underlying technology breaks through a bit, the blockchain will be able to ushered in a massive outbreak on the application floor.

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