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“Chainge”:Thinking and Analysis of Blockchain Protocols

On November 18, a brand new activity of 8btc – the first phase of the blockchain technology salon “Chainge” was held in Hangzhou. The theme of this event was “Reflection and Analysis of Blockchain Protocol.” Bytom CTO Long Yu, Qtum core developer He Huaming, chief architect of imToken Chen Kai, Chainx community founder Yue Lipeng and product director of Wanchain Yang Tao delivered wonderful sharing around the upgrade of blockchain protocols.

Bytom CTO Long Yu, with “Bytom protocol scalability design” as the theme, first introduced the scalability of the blockchain protocol from three aspects: the entire network protocol can be upgraded, the fault can get convergent treatment and sustainable development. The ultimate goal is to maintain the reliability of blockchain ledger records.

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In the upgrading of the blockchain protocol, Lang Yu thinks it is necessary to consider the coordination among nodes, the security of the protocol in design, implementation and features. Such as how to make whole nodes adapt to the latest rules, whether there’s a loophole in the new protocol, whether some of the pre-restrictions are changed and whether there exist easily overlooked bugs and so on.

Blockchain protocol upgrading measures are mainly divided into hard fork and soft fork. Long Yu believed that the core of hard fork is a fully compatible model with the following main features: what couldn’t be used in the past can be used now, it requires a huge price and the upgrading is fast. Ideally, a hard fork should inform all nodes to upgrade with consensus defenders being fully aware and giving absolute hashpower support; While an unsatisfactory hard fork would cause the system to stop functioning and a failed hard fork may even result in user’s currency being compromised.

The core of soft fork is forward compatibility with the main features of: what couldn’t be used in the past can’t be used now either, what could be used previously may fail to be used now, ungraceful upgrade, small price being paid and the upgrade lasts long. In terms of scalability upgrading, new rules and features are added, and some previous op-bits are reserved. In the case of constraints upgrade, the existing rules are partially abolished and “invalid” transactions filtered. Often used for performance optimization and phasing out old functions. What Bytom took was a “Tick-Tock” cycle mode, with which a secure scalability and constraints upgrade can be achieved.

He Huaming, core developer of Qtum, introduced blockchain protocols and technology background of fork in his speech entitled “Distributed Autonomous Protocols for Qtum ” from three aspects: using autonomous protocols for upgrading and forking management, the factors that affect forking and the possibility of realizing fork-free target through distributed autonomous protocols.

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While talking about the context of using autonomous protocols for upgrading and fork management, He Huaming took BTC and ETH as an example. He believed that forking is a means of upgrading networks and software, especially when there is a critical vulnerability that needs fixing. How to reach a consensus on fork and reduce the impact of fork on the ecosystem is a question that needs to be considered by the entire blockchain industry.

In the part of the factors that affect the fork, He thought there were three main factors: algorithms and functions (such as consensus algorithms, encryption algorithms, transaction scripts, virtual machines), strategy and parameter categories (such as block size, block-creating time, transaction volume, Gas Strategy) and Critical Vulnerabilities (eg., The DAO Event, Parity Multiple Signature Wallet Code Vulnerability Event).

In the part of the possibility of distributed autonomous realization of the fork-free target, He Huaming believed that the strategy class was relatively easy to implement. In addition, the automatic evolution and fork-free of the block chain network can be realized by more complicated means. For example, Decentralized Governance Protocol (DGP) basically can realize distributed autonomy of parameter classes.

Chen Kai, chief architect of imToken, shared the theme of how blockchain wallet can be adapted to the upgrade of blockchain. According to Chen Kai, the fork of blockchain is a system upgrade which contains the upgrade of data and algorithms, and most of the time it is an algorithm upgrade. He also introduced the previous forks of Ethereum, taking the DAO, Byzantine and Constantinople as examples.

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Next, Chen Kai introduced the characteristics of the blockchain wallet with the light node wallet and light client wallet as main forms at present. Light node wallet in itself is a node and connected to the entire blockchain network. Waiting for the block data’s synchronization is not efficient. While ImToken is a light client wallet with high efficiency since it structures all the transaction history data pulled over from the server.

Yue Lipeng, founder of the Chainx, analyzed for everyone the EOS project. Yue Lipeng believed that the current blockchain world is divided into four levels: the “blockchain + currency” represented by bitcoin; the “blockchain + proprietary application” represented by namecoins, bitshares and Steem; the “chain + common platform” with Etherum as the representative, then there is the EOS representing the “chain + operating platform.” EOS as an enterprise-level operating system, strengthening and encapsulating the basic functions of the blockchain, raising the level of concern for application developers.

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Yue Lipeng said that some of the conditions have to be met before the blockchain application can be used to decentralize people’s daily life: support for thousands of users online at the same time, free to ordinary users, upgrades and bug fixes are simple, low latency and high concurrency.

EOS adopted the DPOS consensus mechanism used in bitshares and steem. The authentication and permission management in EOS is standardized and separated from the application’s business logic, which is also the reason why EOS calls itself an operating system. The other big feature is parallel execution.

Finally product director of Wanchain Wan Tao introduced Wanchain project around the theme of ” the privacy protection and cross-chain protocols of Wanchain”. Wanchain is a blockchain project that is incubated by the blockchain startup Wanglu Technology. Its overall design goal is to support BTC, ETH and other public chain-based digital currencies’ cross-chain transactions. It has privacy protection based on smart contract, universal cross-chain transaction protocols and able to develop business applications of multi-digital assets based on the chain.

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Blockchain is regarded as a highly disruptive technology that opens up the Internet of Value and will have far-reaching implications for all areas of society. At present, 8btc owns the 8btc news with the highest public creditability in China. In addition, 8btc forum is also the most active blockchain forum in the country, gathering a large number of blockchain lovers and technology developers. 8btc hopes to bring the technology of blockchain from from online to offline through the technology salon to show the development, achievements and thinking of blockchain developers so that people can be kept abreast of the hot progress of blockchain technology and we hope that more technology enthusiasts join the blockchain industry.

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