SheKnows 丨 Where is the public chain application breaking out?

From the birth of Bitcoin, to the emergence of smart contracts, to the cross-chain cross-chain, public chains have led almost every major technological innovation. However, from the TPS competition, to the Dapp ecological competition, and then to the beachfront DeFi, the road to public landing has never been smooth. At the same time, major manufacturers and giants have entered the market, and the alliance chain is unstoppable. The starting gun was fired at 10.24, and the crisis and opportunity coexisted. How will the public chain break through in 2020?

In this context, Babbitt SheKnows planned the online themed activities of “Dangerous Machine 2020 Public Chain Breakout”, including “Self-evolution, Public Chain Leading Technology Innovation”, and “Out of Virtuality, Where Do Public Chain Applications Breakthrough? "," Together with each other, alliance chain, public chain have the same goal? " 》 Three themed activities. Invited the founder of Quantum Chain, Shuai Chu, Findora CEO Charles Lu, Biyuan Chain CTO James, IOST co-founder Terry, Conflux founder Long Fan, Yunxiang Blockchain CEO Huang Butian, Bystack leader Ma Qianli, and Xita Technology Marketing Director Kong Qingyang, focusing on the core issues of technology, applications, and the development of public and alliance chain paths, talked about the "crisis" and "opportunity" of the public chain, and explored the way to integrate the public and alliance chains.

On December 6th, "Where is the public chain application?" 》 In the special event, ConFlux founder Long Fan, IOST co-founder Terry, and Biyuan Chain CTO James were interviewed by Babbitt Beijing station webmaster Helen to see how the public chain can break through from an application perspective.

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Moderator: After eighteen collective studies by the Political Bureau of the CPC Central Committee, the blockchain technology has received more and more attention. There are voices saying "regular army and national team are about to enter the field." First ask the personal experience of several teachers, yes More excited or more stressed? Does this pressure come from technology, markets, products, or regulation?

Long Fan:

Our mentality has not changed at all, and we always believe that blockchain is a technology that is meaningful to this world.

Of course, the affirmation from the government level will undoubtedly greatly accelerate the implementation of blockchain technology, which is very beneficial to the entire industry. Terry:

It's exciting and moving. The blockchain was actually proposed in the "Thirteenth Five-Year Plan", so this time it is not completely unexpected. Of course, there are also pressures. The industry is too early, there are many chaos typical of the early industries, and the healthy development of the blockchain is really a long way to go.

James:

At the same time, the pressure is even greater. The excitement stems from a state of chaos before there was no supervision. The entire industry is in a state where bad coins drive out good coins, so as a technology-driven blockchain Team, we embrace supervision.

Of course, the pressure comes from responsibility. With the advent of policy support, we have docked many new companies and many new needs every week. How to make our bystack baas service well and ensure stability, use blockchain technology to solve problems for governments and enterprises, and create actual value is what we will work for in the next few years. Moderator: There are expressions of "innovation chain, application chain, value chain" in collective learning, but there is no division of "public chain, alliance chain, private chain" that our industry is accustomed to. I would like to ask how some teachers understand this of?

Long Fan:

I personally think that "innovation chain, application chain, value chain" is more a description or expectation of blockchain technology. Of course, each of us hopes that blockchain technology will become valuable, applicable and have enough innovation and vitality.

Terry:

I think it is an expectation and entrustment. It is necessary to continue to improve the original innovation ability, and help cultivate more talents in this area, promote "blockchain +", and help develop the people's livelihood field and the implementation of smart cities. "Public chain, alliance chain, private chain" is a form of advance application in different scenarios. In addition to the well-known public chain, IOST has also explored in the field of alliance chain and private chain for a long time.

James:

Innovation chain : This is temporarily understood as a new project that combines the blockchain with various fields to explore the boundaries of the blockchain.

Application chain : The chain has high requirements for performance and can easily combine traditional industry business content with blockchain technology. The meaning of existence is similar to the side chain in Bystack's main-side architecture, which is high-performance, easy to expand, and supports the customization of secondary mold requirements.

Value chain : The main role is to ensure the liquidity and security of assets. The significance of existence is similar to the bytom main chain in Bystack's main-side architecture.The performance is not as high as the application chain. Technical requirements such as supervisable privacy transactions may be designed.

Has the public chain reached the application landing time?

Moderator: Has the public chain reached the moment when the application has landed? In other words, is the public chain technology mature enough to support the development of applications? How to break through the application of public chain? Where to break out?

Long Fan:

In my opinion, this matter should be viewed from several aspects:

  1. Is the performance of the public chain sufficient to support large-scale applications?
  2. How does the data outside the chain interact with the on-chain and how to solve the privacy problem?
  3. Real landing also requires the efforts of the whole society.

As long as this infrastructure is stable, secure, and efficient, I believe that ecological applications on the blockchain will definitely become more and more prosperous.

Terry:

Now the technology is far from mature, and there is still a long way to go to talk about application and landing, not to mention that the blockchain is not facing pure technical issues, but technical, economic, and social issues. Of course, this is also where it is interesting.

I think the public chain wants to break through, and it needs to make products on the public chain that really popularize C-side / B-side users and are widely used. James:

The public chain should be far from the time when the application is implemented. In the blockchain, the public chain is actually more technically complicated than the alliance chain, because there are more things to consider on an open network, and there are more Many restrictions, but also gives the public chain a true decentralized nature .

Blockchain is still in an early stage, equivalent to the Internet in 1997. The real landing of the public chain should be after the consensus algorithms, sharding, cross-chain and other technologies mature, and after the blockchain becomes an important technical component of more companies.

In fact, the technology of the blockchain is interlinked, so the landing of the alliance chain is actually promoting the development of the public chain. Therefore, the direction of the breakthrough of the public chain should be to allow more people to use the blockchain and allow demand to promote technology development , Until the moment the technology matures.

Talk about the layout of blockchain +

Moderator: In the collective learning document, several "blockchain +" livelihood scenarios are mentioned, including: "education, employment, retirement, precision poverty alleviation, medical health, commodity security, food safety, public welfare, social assistance, etc.", but At present, the alliance chain in these areas seems to be doing better. How do you see these directions? Is there a related layout?

Long Fan:

It depends on the number of consensus parties in the scenario. When the number is not large, the alliance chain may be simpler and more effective. In the field of alliance chains, Conflux will also conduct some exploration based on our technology, and many of them are technically related.

In addition, I think there is a recent interpretation that the government only supports the alliance chain. I think this is a misunderstanding.

Conflux will set up the Treemap Research Institute in Shanghai under the guidance of the government, focusing on basic research on the underlying public chain technology. The government's willingness to support the basic research of public chain technology itself shows an attitude. Terry:

The alliance chain is still a public chain and a private chain. As a technology, it is not necessary to talk about good and bad. IOST will have a layout. Here are some examples:

  1. The blockchain-based aerospace data platform created by EHang ’s drone company, IOST, and China Civil Aviation Administration uses public and alliance chains;
  2. The power trading blockchain system being developed by IOST and Fujimi City Power Plant (the third largest power plant in Japan) uses alliance chains and private chains;

James:

Our Bystack's blockchain baas service platform has provided technical services and support for Hangzhou's most once run, Wuzhen's garbage classification, and a bank's international trade business.

Because our baas platform was designed with high-expansion characteristics in mind, these areas are the same for us, and can quickly access or customize special business logic requirements.

Of course, most of the docked projects are still in the data layer application, and more application scenarios still need time to incubate.

Talking about the technical route choice of public chain

Moderator: We can see that the arena of public chain competition has now shifted from POW to POS, from layer1 to layer2, and from one public chain to cross-chain and sidechains, but Conflux is still sticking to the original goal. Do you have a sense of urgency about this? Or do they not recognize the track they compete at all?

Long Fan:

There is no sense of urgency. The goals or initial goals of Conflux have never changed, and all our development is proceeding in an orderly manner.

I have always felt that the blockchain is a blue ocean instead of a red ocean. There is no such chain as to compete with, and we are more willing to go in the direction we judge. Moderator: I have noticed that your external preaching has been changed from "DAG" to "Tree Map". Is this a change in technology selection or is it just an update of terminology? Why change? What is the difference between the two?

Long Fan:

Of course, it's not just the difference in publicity. The tree structure of Conflux is different from chain or DAG. There is only one type of pointer. Each block of it has two kinds of pointers. One kind of pointer points to the parent block, and there can only be one. Father, is the same as the traditional chain structure; a pointer points to the reference block, which needs to reference multiple blocks to express the happens-before relationship between different blocks.

Therefore, there are two types of edges in Conflux, the parent edge (the edge determined by the parent pointer) and the reference edge (the edge determined by the reference pointer). If you only look at the parent edge, the structure of the ledger is a tree; if you look at both the parent edge and the reference edge, the structure of the ledger is a graph. A tree graph structure is such a structure that contains a tree in the graph.

On the entry direction of application landing and the problems encountered

Moderator: Would you like to ask Terry, do you have some industry resources to make one-to-one breakthroughs in the application of landing? Are the scenes currently on the ground really useful? What problems did you encounter during the landing?

Terry: It is mainly difficult to get users. We thought of many methods, such as finding nodes first, and then some users will be lost. Then we began to optimize the experience, such as no fees, and using resources such as gas and ram To make users feel zero, then it is more friendly to developers, and there is the use of large IPs, such as "The Legend of Fairy Sword", "The Three Kingdoms of crypto", "Eternal Fafnir" and so on.

Moderator: According to DAppTotal's weekly report data on November 11, the number of DApp users in IOST is even 20 times that of ETH. Is Terry's data really true? Have you found a better approach? What kind of applications are suitable for on-chain? Terry:

It is mainly 2B and 2C applications, and there are many places that can be reused. IOST has made Dapps for more than a year. Now there are about 80 Dapps in total. We will limit the proportion of spinach. 20%, which is different from other public chains such as EOS and ETH. It also makes many users feel our determination and hard work. In addition, we have many applications for tool efficiency applications.

Talking about cross-chain and DeFi

Moderator: After the original multichain launched Bystack in May, Biyuan launched the Layer 2 value exchange protocol MOV in October. Why should it be cross-chain? There are quite a lot of cross-chain projects now. What is different from the original chain?

James:

Cross-chain technology is the key to realizing the important network value of the blockchain. If the consensus mechanism is the soul mechanism of the blockchain field, for the blockchain, alliance chain, and private chain, cross-chain technology is the realization of the important network of the blockchain. The key to value. As an Internet of assets, than the original chain, in terms of business scenarios, the significance of cross-chain is very obvious.

First, linking physical assets and offline assets to online, this kind of business is a cross-chain process.

Secondly, the interoperability and interoperability between chains also involves cross-chain. One level is cross-domain from physical to virtual digital, and the other is cross-chain between digital networks and digital networks.

From a technical perspective, if you think that liquidity and interoperability are more important, you must implement it through cross-chain. Cross-chain is very meaningful for enhancing liquidity.

Cross-chain has technical implementation methods as well as business implementation methods. When exploring the technical level of the original chain, the original chain supports various cross-chain mechanisms similar to ring signatures, intermediate chains, etc., but for specific business scenarios, the actual The future cross-chain technology may be another model.

From the perspective of the development of cross-chain technology, the backward push method is used to see how to do some cross-chain alliances and what valuable work can be provided. For example, Bitcoin is a public chain based on UTXO. It is easier to do cross-chain between the bottom layers.

Isomorphic chains are relatively easy. Cross-chain alliances not only start from cross-chains, they can also do some more basic work to define some basic data structures, storage structures, and information and asset structures. More efficient cross-chain reserve.

The original design idea is that the chain itself is compatible with many types and different types of assets, and can perform free and interactive operations on the chain.

At the same time, for the cross-chain interoperation with other chains, the Biyuanchain team also has a positive and open attitude and hopes to complete and promote this process with other partners. The reason for this is not only because of the focus on assets than the original chain, but also more security. Moderator: DeFi is the most prosperous scenario for public chain applications. As of now, the DeFi project has a total of 660 million US dollars in locked-up funds , including stablecoins , DEX, loans, oracles. It is also more optimistic about the direction of DeFI than the original chain. What are you trying to do?

James:

DeFi is considered to be an important landing direction of the blockchain, which is essential for establishing an open financial system worldwide. However, the existing DeFi solution is basically built on the Ethereum network, so the performance of DeFi is limited by the performance of the Ethereum network and has not yet been implemented on a large scale.

  1. In order to improve DeFi performance, compromises sometimes have to be made. Taking the well-known decentralized exchange protocol 0X protocol as an example, in order to compensate for the performance defect, the "off-chain matching, on-chain transaction" scheme is adopted. Obviously, this sacrifices the decentralized nature of the blockchain.
  2. However, MOV is completely decentralized, and performance is not affected. When users exchange assets on the MOV network, requests will be sent to the chain in the form of smart contracts, and super nodes are responsible for packaging and matching user needs. In order to prevent the super nodes from doing evil, the consensus algorithm of the magnetic contract will verify the packaging logic to ensure that no illegal packaging will occur. In terms of performance, the Vapor side chain used by MOV can produce a block in 0.5 seconds. According to the theory, each block can contain 8000 transaction calculations. Therefore, the TPS can reach 16000. This performance is in the current decentralized exchange protocol. Medium is excellent.
  3. At that time, MOV will provide SDKs for each module and combine different magnetic contract templates to meet Defi's diverse and high-end business needs.

Talking about plans for 2020

Moderator: Reveal the plans for their respective projects in 2020.

Long Fan:

Conflux's future plans have two main parts:

  1. We have cooperated with the government to steadily promote the basic research on the blockchain. This is what we always have;
  2. The other is that the main network of Conflux will be launched in March 2020 as originally planned ;

Terry:

The plan for 2020 will be released on December 21, and there is one important thing to announce, including the technology and application aspects.

James:

  1. Let Bystack, a multi-sided blockchain baas service platform, serve more governments and corporate sectors and create real value.
  2. Based on the Bystack architecture, a step has been taken in the Defi field without any public chain projects. We will release a white paper in the near future .