YeeCo Guo Bin: Blockchain + 5G, how to unlock the new scene of the Internet of Everything 丨 Chain Node AMA

In 2020, "new infrastructure" became a hot word on the front page. Among the seven officially defined areas, 5G successfully occupies the C position as a key new infrastructure supporting economic, social, digital and networked transformation. It can bring us two huge changes: the first is to greatly increase the transmission rate, and the second is to greatly increase the size of the nodes accessing the network. Its service scenarios have jumped out of the human-oriented service category, and have extended to the diversification of application scenarios to better serve landing scenarios and business applications.

The Internet of Everything is looking forward to, but we must also realize that issues such as privacy information security, online trust construction, and protection of virtual property rights still need to be resolved, and blockchain can just help 5G solve the shortcomings of the underlying communication protocol.

On the afternoon of April 3, Guo Bin, CTO of YeeCo public chain, served as the guest chain node AMA, and talked about how the blockchain can help the new 5G infrastructure and unlock new scenarios of the Internet of Everything.

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With the integration of 5G, how can the blockchain "reach the standard"?

The integration of blockchain and 5G also needs to meet a series of technical conditions, such as distributed consensus, high security and high performance. In other words, the blockchain needs to "reach" to be able to further explore the possibility of combining with 5G .

Guo Bin believes that decentralization and license-free are the banner characteristics of blockchain technology. For the public chain to become a consensus network on a global scale of value, these two characteristics need to be guaranteed. To become a decentralized high-performance Internet of Things infrastructure, the PoW consensus algorithm has become an inevitable choice.

On the basis of ensuring decentralization and no license, performance and capacity expansion issues are equally important. "If the public chain cannot be expanded, then even if the initial capacity standard is high, it will still not meet the requirements of continuously increasing the scale of the business, and eventually it will reach the ceiling of performance." Therefore, YeeCo adopted a full sharding scheme, network communication, transaction execution , State storage, and data storage are divided into four workloads, and smooth expansion is achieved, which can meet the continuous expansion of the network with the development of business scale. At the same time, the original CRFG finality technology can solve the safety and efficiency problems of cross-shard and cross-chain transactions; MMTP technology (multiple Merkel tree proof technology) can reduce the size of verification data of cross-shard transactions and improve cross-score transactions The efficiency of tablet transactions.

Guo Bin particularly emphasized:

"To break through all resource bottlenecks, we cannot solve the transaction verification speed today, and block storage will become a new bottleneck tomorrow."

It is worth mentioning that the sharded network usually needs to consider the security problem of 1% attack, that is, the network's computing power (or verification power) is distributed because of the sharding, so that the malicious party can attack a certain shard. And YeeCo adopts parallel mining, which can realize the mining tasks of multiple shards into one mining task, and achieve a computing power to cover multiple shards, thus achieving resistance to 1% attacks.

"Sharding + layering" high-performance architecture, full-shard PoW innovative solutions and CRFG finality technology, this is YeeCo's answer for 5G integration.

Blockchain + 5G, how to integrate?

In the 5G era, everything is connected. Massive and high-speed connections make connections between people and things, and between things. So, how does blockchain technology empower these scenarios?

Guo Bin believes that it is necessary to return to the essence of blockchain technology. "One of the biggest features of blockchain technology is 'detrust', which can remove the restriction of the need for trust intermediaries in the original system. We have to explore applications from this essential feature." Based on this, he introduced two specific Application scenarios.

One is the field of high-definition audio and video communications. In video communication, many relay nodes are needed to accelerate the communication. The blockchain can actually solve the production relationship in this problem. Compared with the centralized node construction idea, the blockchain can use tokens to encourage the resources in the society to join, so as to achieve a higher input-output ratio.

The second is the management and control billing scenario in the mining industry. The software deliverables we face in the future may be large-scale equipment nodes. How are the charges for the work of these nodes authorized? Software licensing fees are a traditional requirement. It is common to have a license with a time limit, but it is easy to be pirated, the time limit is not flexible, and it is not possible to realize true pay-as-you-go. With the support of cryptography, tokens and smart contracts, we can design a software authorization fee model that perfectly fits the software deliverables in this situation.

Guo Bin concluded:

"One is crowdsourcing incentives, and the other is software licensing fees, which is also YeeCo is closely studying two landing scenarios. Our overall idea is still to grasp the essential characteristics of blockchain technology to" trust "."

How far are we from the real public chain landing?

The landing of the public chain has always been the focus of the industry's attention. When can we see the real landing of the public chain? Guo Bin said that the technology maturity curve tells us that the development and maturity of technology will go through five stages, namely birth, bubble, trough, climb and maturity. This is a process that a new technology must go through.

He believes that the future still needs to return to the essence of the blockchain, what problems can be solved, what problems can not be solved, and the industry is effectively empowered to solve the pain points. "There must be a place for blockchain in building the infrastructure of the future society."

He introduced that YeeCo's development plan is divided into 7 stages: PoC, test online and main online. The 7 PoC stages are mainly to propose, develop and verify designs, schemes and engineering implementations. The testnet and mainnet stages are mainly to further improve the protocol and code implementation.

At present, YeeCo has completed 7 PoC versions, and entered the testnet stage on March 31, and has completed the technical design and program development described in the white paper.

"YeeCo public chain takes 5G as an opportunity to start from the supply chain and provide a complete solution containing YeeCo for the physical industry; aiming at the use of big data aggregation, and using YeeCo to innovate business models for public service institutions, including DeFi / Pan-blockchain services such as STO / DApp (Game) services. "

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