Red chain - the underlying technology revolution of blockchain

The blockchain has been developed for nearly 10 years, especially in the past two years, regardless of the government or bank or business, and has strongly promoted the application and landing of the blockchain. At present, the public blockchain technology represented by Bitcoin and Ethereum has been rapidly developed. As a new technology application, these two technologies have gradually exposed the innate defects: easy to be attacked, transaction concurrency bottlenecks lead to transaction congestion, generation The coin is produced by mining methods and causes serious waste of resources. At the same time, because of the growth of the miners' union, the conflict of interest distribution leads to the perception that the manipulation phenomenon leads to the blockchain bifurcation, and the continuous bifurcation in the future leads to the block. The chain gradually produces more complex and serious large-scale contradictions stemming from the interests of technology and miners, leading to the collapse of the blockchain.

Important crisis events in history:

In February 2014, as the world's largest bitcoin exchange, Tokyo Mt.Gox announced that more than 800,000 bitcoins were stolen. According to the current trading market, the loss was about 31 billion yuan.

On June 17, 2016, I suffered a major accident. A contract used DAO's loopholes and hijacked more than 3.6 million Ethereum. According to the current trading market, the loss was about 7.2 billion yuan, which eventually led to the formation of hard forks in Ethereum. There are two kinds of tokens, ETH and ETC.

On August 2, 2016, Bitfinex, one of the most traded bitcoin exchanges, announced that it was the victim of the latest large-scale security breach. 119,756 bitcoins were stolen. According to the current trading market, the loss was about RMB 4.5 billion.

On July 11, 2017, a loophole in the Ethereum Parity wallet was exploited by hackers, causing massive losses. 150,000 ETHs were stolen. According to the current trading market, the loss was about 300 million yuan.

History and the hard forks that will emerge in the future:

On August 1st, 2017, Bitcoin made the first hard fork. The purpose was to expand the block. Then Bitcoin Cash was born, which is BCC, which formed the two major patterns of BTC and BCC.

On October 25, 2017, the second hard fork of Bitcoin began, and the new digital currency “bitcoin gold”, which is BCG, will be forked in the 491407 block of the original chain. There have been three major patterns of BTC, BCC and BCG.

It is reported that there are two hard forks in November. One time was the bitcoin cash hard fork on November 13th, which solved the "difficult adjustment algorithm" problem of the original protocol. One is SegWit2x on November 19th, which is the second phase of the launch of the Segregation Testimony at the New York Consensus Conference in May this year, which upgraded the block to 2 MB.

At present, the Ethereum platform has implemented four hard forks, one of which led to the birth of the alternative chain Ethereum Classic (ETC). Hard forks do not necessarily cause the chain to break, creating a new currency. However, in 2016, in order to make up for the losses caused by major loopholes, the modification proposed by Ethereum hard forks was very controversial in the community, which eventually led to the split of the chain into the classics of Ethereum and Ethereum. The Ethereum classic became the encrypted number competing with Ethereum. currency.

I am not sure when Bitcoin and Ethereum will split in the future, but it is certain that there will be more and more internal differences in the development of these two blockchains, which will lead to more futures. The fork, and the forked fork. This is determined by the characteristics of the public chain going to the center. In essence, the design of Bitcoin and Ethereum is decentralized. It is a utopian experiment. The value of the token is not reflected in the initial stage, and it can achieve a benign operation. The high price of the tokens has formed a people-centered one, which has led to the rise of contradictions among different stakeholders due to the driving of interests, thus breaking and forming a competitive relationship. The prosperity of Bitcoin and Ethereum is inseparable from three kinds of people: developers, miners and traders. These three forces have their own small calculations, and there are huge conflicts of interest in each force, leading to the beginning of design. The ideal society is artificially dominated, the war is on the rise, and the future will be more frequent and more tragic, like the warlords in history.

How to solve this problem?

This problem arises from the characteristics of the public chain, that is, it essentially replaces the trust of people through machines and programs. Simply put, the public chain is completely ignorant of people and believes in machines, thus achieving the settlement of the Byzantine problem and forming consensus and trust. . However, I never imagined that the rapid rise of the value of the tokens led to the conflict of interests between people, so that people of different interest groups can modify the procedures to comply with their interests, so the public chain is simply a laboratory product. Once in the society, it is actually being manipulated. There will also be more complex social problems in the blockchain world. This is like establishing communism in the primitive society. It is hoped that people and machines will have no desire and no desire. A super-ideal utopia is bound to be destroyed on the basis of the current social civilization.

Therefore, the solution must be a new blockchain technology generated by the consensus, encryption, and non-tamperable mechanism solved by machines and programs, combined with the organizational rules of human society, a block that can get out of the experimental environment and enter the social environment. Chain technology. The basis of this technology is the direction of the underlying logic and decentralization of the blockchain, but it has optimized or replaced the original POW (workload proof) and POS (certificate of rights), thus breaking the social problems of conflicts of interest of different interest groups. It also solves the waste of resources caused by the original POW mining mechanism, and the accounting efficiency problem caused by the complex POS mechanism. (Ethereum plans to release POW bombs during the metropolitan hard fork phase to upgrade to POS and completely abandon POW, but POS not only faces complex mathematical logic but is still inevitably manipulated.)

Then there is a need for blockchain technology that uses another way of thinking to solve the consensus problem while maintaining the characteristics of encryption and non-tamperability of blockchain technology, and this idea no longer unilaterally believes in machines without trust. People need a new blockchain technology that combines people, machines, and society to comprehensively consider them.

The redchain differs from the traditional public blockchain in that it combines the “low trust” of the public chain with the “single high trust” of the private blockchain to provide a hybrid blockchain model while preserving the zone. Under the premise of the necessary characteristics and security features of blockchain technology, combined with the complex needs of social networks, a socialized blockchain suitable for self-organizing institutions, distributed node mutual trust social networks and corresponding economic and social systems is formed. system. The integration of individual people and commodities, trade and currency, organization and society through the blockchain system proposes a solution to the above problems: the establishment of a social blockchain system.

The fig system is a distributed accounting system and a distributed storage system with a red chain as a decentralized blockchain system. Currently, the solution to the consensus problem of decentralized blockchain accounting is generally verified by PoW, PoS, DPoS, and Pool. Pool (Bubi's proprietary algorithm for blockchain), dBFT (the mechanism used by small ants) is implemented in two ways, and because of the waste of resources proved by workload and the trend of commercialization of quantum computing in the future, it is impossible to guarantee its design. Fixed security. Therefore, the mainstream blockchain including Ethereum has gradually transitioned to the POS (Proof of Equity) approach.

(Fig Figoo)

The fig system adopts the VPOS (vote POS ticket equity certificate), which is the derivative of the POS unique to the red chain. On the basis of PoS, VPoS specializes the role of the biller, first selects the accountant through the equity voting. Then, the billing person polls the billing again, and authorizing the polling billing is an efficient way to reach a solid consensus in a short period of time.

The advantages of VPOS are:

The bookkeeping is done by multiple people in coordination, and each block has a finality, completely avoiding the blockchain fork;

The three-dimensional chain and cross-chain structure not only supports the transaction of large-scale transaction, but also confirms it instantly;

Have a professional biller, and the new billing node or biller is determined by VPOS election. After the determination, each billing node and the biller will have a periodic evaluation of the system stability effectiveness;

Any type of error can be tolerated by roulette mechanism, time bastion, fisheye verification;

The reliability of the algorithm has strict mathematical proof;

The chain structure of the blockchain evolves from flat to three-dimensional, and the social evolution of the consensus mechanism is the evolution process of the blockchain. Because of the success of the Internet's 30 years of rapid development, the evolution of the blockchain will be even more alarming. Through the continuous evolution and development of the technology of the red chain, the next step will be deep integration with technologies such as the Internet of Things, intelligence, and big data, becoming the new engine of the Internet era, which will give the world a continuous expectation experience and surprise. It is worthy of our active embrace. Common witness.