In-depth interpretation of the first reading of PlatON cloud map economic blue book

Babbitt's latest news, computing network public chain PlatON cloud map just released the economic blue book "Blockchain-based privacy computing and distributed economic infrastructure" in San Francisco, this is PlatON following "everything can be calculated – PlatonON next-generation computing architecture Another major release after the Technical White Paper.

The following is an explanation of the key points of the calculation blueprint of the economical chain PlatON cloud map economy:

The first part of the economic design principles of the public chain

1. The distributed economy associated with the public chain is divided into two layers: within the public chain (transactions, production blocks, consensus, storage books, etc.) and public chain support (DAPP, Layer 2, DEFI, etc.), the core The problem is the production and distribution of scarce resources. The main goal is to achieve self-sufficiency, self-organization, self-governance and self-sustainability.

2. Economic design principles:

  • As the most important infrastructure provider, the verifier should receive adequate returns;
  • Reduce the cost of consensus as much as possible;
  • Endogenously inhibit the expansion of the mining pool to ensure the decentralization and safety of the public chain;
  • As a native Token, Energon is able to effectively capture value from computing networks;
  • Communities should be able to reserve resources to fund academic research and developers.

3. Compare PoW and PoS:

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4. Decomposition of institutional costs in PoS

  • Establishing an out-of-chain identity and credit mechanism in a repetitive game requires cost itself;
  • The extra-chain credit mechanism has a self-reinforcing trend;
  • The procedural arrangements for miners' elections, block production, and consensus-building have made collusion easier to plan and implement.

5. The best combination of technology-based trust and system-based trust minimizes consensus costs

  • Each consensus algorithm relies to varying degrees on technology-based trust and system-based trust, thereby generating technical and institutional costs, respectively.
  • There is an optimal combination that minimizes consensus costs.

The economic design of the second part of the Platon cloud map

1. PlatON cloud map PoS overview

  • The first step: election of alternative nodes;
  • Step 2: Select a verification node from the candidate nodes by using the VRF;
  • Step 3: Verify that the node rounds out the block and runs the Byzantine protocol CBFT.

2. Alternative node election

  • Each lock of one Energon is equivalent to one ballot;
  • More than one predetermined minimum number of Energon must be locked in order to become an alternate node candidate;
  • Candidates of alternate nodes are not allowed to vote with each other;
  • The first few candidates with the highest votes are the alternate nodes.

3. Use VRF to select the verification node from the candidate nodes.

  • The VRF will select a certain number of verification nodes from all the candidate nodes, and the number of verification nodes is determined in advance;
  • The higher the number of votes, the higher the probability that the candidate node is selected as the verification node by the VRF;
  • VRF introduces randomness.

4. Verify that the node rounds out the block and runs the Byzantine protocol CBFT

  • In CBFT, each verification node is assigned a time window in which the blocks are continuously produced;
  • After obtaining the block reward and the Staking reward, the verification node, the candidate node that is not selected as the verification node, and its supporter share the revenue according to the prior agreement.

5. PlatON cloud map public chain economic design analysis

  • Reduce collusion and bribery;
  • Reasonably match system-based trust and technology-based trust;
  • Not ruled by the rich but by the respected;
  • The consensus process is fair and open, avoiding “the tyranny of the majority” and the oligarchic rule;
  • Suppress the expansion of the mining pool.

6. Energon's initial release and additional issuance

  • Energon's initial release is allocated to the founding team, Platton Cloud Foundation, academic funds, eco-funds and private issuers in a certain proportion, and the corresponding lock-up arrangements are introduced;
  • The portion of the extension is used as a block reward for the verification node, a Staking reward for the candidate node that is not selected as the verification node, and a reward Platon cloud developer community;
  • The PlatON Cloud Map Foundation will take out a portion of the subsidy verification node, the candidate node that has not been selected as the verification node, and the trust fund from its initial release.

7. Calculation of transaction pricing

  • The calculation of trading power depends on its energy consumption;
  • The number of correctly executed computing tasks is recorded in the contribution score;
  • Contribution scores represent the reputation of the power provider.

8. Data transaction pricing

  • Traditional data markets often fail;
  • The principle of PlatON cloud map;
  • Respect data sovereignty;
  • Transaction data usage rights under the premise of protecting data ownership and privacy;
  • Users must pay a reasonable fee to the data owner;
  • Two ways of pricing data transactions;
  • Absolute pricing: The value of data to users is reflected in the data's cognitive, decision-making and welfare improvements;
  • Relative pricing: Given a data set and a common task, evaluate the contributions of members of the data set to accomplish the task.

The third part of the impact of the economic design of Platon cloud map on governance mechanism

Economic coupling design

  • Economic coupling indicator;
  • To what extent can the economic activities supported by the public chain increase the demand for Tokens in the public chain?
  • To what extent are the participants in the economic activities supported by the public chain and the participants in the economic activities in the public chain intersect?
  • Energon will be used to settle data and computing transactions in the Platto cloud market, and the development of this market will promote the demand for Energon and support its value;
  • Participants in the leading position will accumulate more Energon in the Platto cloud computing network, so they have greater influence in PPoS, and the identity and reputation under the chain can be passed to the chain;
  • ERC20++: DAPP Token must be supported by Energon Reserve, a sub-community of DAPP that determines the strength coupling between DAPP Token and Energon reserves. The PlatON Cloud Map Foundation will donate a portion of the initial Energon reserve to the DAPP sub-community as their start-up funding. The stronger the relationship between DAPP Token and Energon Reserve, the greater the amount of donations received. With the development of DAPP, its users must acquire more Energon and pledge as a reserve, which will help Energon better obtain value from the development of DAPP.

2. PlatON cloud map governance mechanism

The governance mechanism has the characteristics of “community building, sharing, and co-governance”. The Platon cloud map will be introduced in detail in its “PlatON Cloud Map Management Red Book”.