The market is cloudy and uncertain, take stock of major events in the blockchain industry in 2019

Original: Five Fireball Leaders

In a flash, 2019 is coming to an end. This also means that the first decade of the blockchain has been officially completed.

This year, there have been too many major events worth writing into the chronicle of the blockchain. If you are new to blockchain, I hope this article can help you sort out some of the wonderful things you missed; if you are already an old man in the industry, I hope this article can help you sort out some of the context and bring some hope.

01 Market articles

1E0, Wright halved, Bakkt

1, 1E0

Regarding 1E0, people have mixed opinions. Some people do earn money on it, but the price is more people standing guard at the top of the mountain. The new word in the circle of “opening at the peak” in 2019 applies to almost every project participating in 1E0.

Anyway, the little bull market in the first half of 2019 was indeed 1E0, which sounded the horn of counterattack. In addition to triggering the little bull market of mainstream currencies, it also made "platform currency" something less blockchain-like. Brilliant.

However, the feast will end. After a few months of fiery enthusiasm for 1E0 and the platform coin, it is officially announced to end. Only a few front-line firms are still maintaining this model, but the returns are already much worse than before. Of course, some people say that this year's market cannot be ruled out by the mode zjp.

2. Litecoin halved

Litecoin, the long-lasting "king of altcoins," ushered in a halving market in 2019. Before the halving, Litecoin also led the mainstream coins and climbed up.

It is interesting that the founder himself sang the Litecoin market at the time of the halving. As a result, Litecoin, as it said, started a downward trend after the halving. Is it Li Qiwei's unknown prophet or his influence that is so huge that prophecy propagates a lot and then becomes a reality? We don't know.

In any case, after the halving, the historical law of price go bulls seems to no longer work on Litecoin this time. Was the law broken or was the price reflected before the halving because too many people knew the law this time? We don't know.

What can be expected, however , is how Bitcoin will halve next year .


In this circle, if there is anything that can be “started out with a lot of calls”, Bakkt is definitely one of the candidates who will not let it go. Another candidate, the Bitcoin ETF , is still in the "trillions" stage.

Bakkt opened the door to "physical delivery" of futures contracts, and also provided a favorable route for regular military admission. However, what surprised many people is that this popular futures platform has only 71 BTC of trading volume on the first day , which is worthless compared to Bitmex.

What's even more surprising is that in just a few months, Bakkt's 24-hour trading volume has exceeded $ 40 million.

Bakkt recently launched cash delivery futures , which caused a stir in the industry. The traditional financial circle's gameplay has been more and more introduced to the blockchain circle, which faintly saw the development trend of "de-dividedization" of US stocks.

02 Technical articles

Cross-chain, DeFi, Mimblewimble, ETH2.0


Cross-chain is one of the biggest technology hot spots in 2019. Speaking of this term, the first thing you may think in your mind is: Cosmos, Polkadot .

Articles on the comparison of the two online have been overwhelming, some of them detract from the other, and objective analysis and comparison of the differences. But no matter how you analyze and compare, you can't ignore that these two projects are just like China Mobile and China Unicom in the telecommunications industry at that time, they are already too popular.

It is a bit regrettable that the Cosmos mainnet has been online for more than half a year, but the IBC cross-chain agreement has to wait until 2020. Whether Polkadot's mainnet will be available at the end of the year is a suspense, and it will most likely wait until the first quarter of next year.

In the next two years, the battle for the PoS family technology will basically depend on the three countries ETH2.0, Cosmos and Polkadot.


Strictly speaking, DeFi is not a technology. However, now that you talk about blockchain, you can't get around the word, because for now, this is the only "really useful" technology application scenario.

No matter what a series of wild blockchain usage scenarios like "spinach", games, traceability, copyright, etc. that everyone knows before, it has either developed slowly or been falsified in the past two years. Even Ethereum, the world's first public chain, has changed its slogan from "World Computer" to "Global Settlement Layer".

There is no doubt that DeFi is a good thing. But will DeFi succeed? This is hard to say. After all, MakerDAO, the handle in DeFi, has only over 300 daily active users in the past 24 hours. In the Internet circle, this will be the data that makes people laugh.

However, this is the current status of DeFi, or the current status of the entire blockchain.


Who would have thought that a spell from Voldemort would become one of the most well-known blockchain privacy protocols now. When it comes to MimbleWimble, you have to think of Grin and Beam. The two projects use different economic models to implement their vision of "Bitcoin 2.0".

But before them are three mountains:

  • Is Bitcoin plus a privacy protocol necessarily the "better bitcoin"?
  • With Monroe, Dashi, and Zcash standing together, does this world need so many anonymous coins?
  • MimbleWimble's security has been questioned by various tech giants. Can you prove yourself in the next two years?

In addition, there are new projects based on MimbleWimble. The two brothers of MimbleWimble have ambush before and chase after. Whether the situation can be broken will have to be seen next year.


At the beginning of last year, many Ethereum killers were born, and many people believe that Ethereum will soon be killed. Two years have passed, just like Bitcoin's status in the entire circle, it perfectly validates the phrase "your uncle or your uncle". Ethereum with a TPS of only 15 is still "always imitated and never surpassed."

It seems that the only thing that "kills" Ethereum is Ethereum 2.0 . However, it is difficult for the ship to turn around, and the upgrade of ETH may be the most difficult and longest upgrade in the history of blockchain.

At the end of 2019, the 7th stage of the 0th Istanbul upgrade was successfully completed after several delays. There are six stages to follow. 2022 is the current expected completion year. Employees in this industry are deeply skeptical …


Libra + DCEP, top-down, Jia Nan listed

1.Libra + DCEP

If Bitcoin is "the king of decentralized international mercenaries", the regular army is Libra and DCEP.

For now, Libra is in a difficult state of production, after all, Libra's competitors are all current fiat currencies, including the US dollar. However, our DCEP is already in the "internal test", which is only one step away from the "open test" of the pilot. It can be imagined that it is a matter of a year or two to "open service" from a comprehensive perspective.


If there is anything exciting in the circle this year, I believe the following sentence can be included in the top three:

"Take blockchain as an important breakthrough in independent innovation of core technology, and accelerate the development of blockchain technology and industrial innovation."

Since the fourth quarter of this year, blockchain technology has received more attention, and several provinces have successively introduced blockchain policies, and the industry is expected to accelerate its development. Under this circumstance, the popularity of blockchain technology and basic education should not be a concern. More and more people will understand the blockchain and participate in the blockchain. In terms of industry, this indicates the arrival of spring.

3.Jia Nan listed

Made the first ASIC miner in history, the drop-out doctoral student who was obsessed with station B, and now goes to Nasdaq to ring the bell.

Then, the stock broke unexpectedly. Some people say that the market has never been bullish. But you have to think so, when Tencent went public in 2004, it broke immediately, and the market at that time was never optimistic …

In any case, the IPO of Canaan Technology is a milestone for the entire industry and has great symbolic significance. If the era described by Satoshi Nakamoto really comes, then "mining" will be far from the scale of today, and the market position of miners and mining machine manufacturers will definitely not be this position today.

In the Internet world, Tencent has used it for a hundred years.

In the blockchain industry, can Jia Nan or Bitmain, which is expected to go public in the future, achieve the same glory?

Looking forward!

Message Mining Issue 398: What other major events in the industry do you know in 2019? Welcome to share your views in the message area.


"Disclaimer : This article is the author's independent opinion, does not represent the position of this public account, nor does it constitute any investment opinions or suggestions. The copyright of the article and the right of final interpretation belong to the vernacular blockchain. A

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