Nova Club Superstar Dialogue Issue 10 | Double-chain Public Chain Metaverse Challenges Nova Club Investor Team Dialogue Complete Works
At 20:00 on February 28th, the double-stranded public chain Metaverse DNA participated in the tenth program of Superstar Dialogue. The founder of Metaverse DNA, Chu Xiahu, and Nova Club member Aurora Wong, founder of ZB Innovation Think Tank, and COO Charles of Science Bank Capital Liu had a heated conversation.
Metaverse DNA is a public chain project with a double-strand architecture. The ETP chain guarantees safety and the DNA chain creates applicability. Metaverse DNA is committed to breaking through the technical barriers of the "Impossible Triangle" in the public chain and creating an underlying infrastructure suitable for commercial use. The Nova Club investor team believes that the DNA project has achieved breakthrough original solutions in terms of blockchain scalability, high performance, privacy and security, interoperability, and community governance, and expressed expectations for the next development of DNA.
The following is the content of all the conversations organized by Nova Club:
Host Zhang Tong: Due to the outbreak of pneumonia in Europe, European and American stock markets plummeted across the board on the evening of the 26th. Among them, the Standard & Poor's index fell more than 3%; the Nasdaq index fell more than 4%; the German, French and British stock markets fell nearly 4%. The Dow Jones Industrial Average fell by 1,031.61 points, or 3.56%, the third largest one-day drop in 124 years. When people focused on Bitcoin, Bitcoin also fell below the $9,600 support level. Coupled with the approach of the BTC halving date, how do you judge the trend of the BTC price?
Early Summer Tiger: Trading has not started on Friday. The four trading days of the week have dropped by 3,200 points, which is more than 10%, which is unprecedented. Futures have fallen by more than 400 points, so today may be another terrible day. In fact, oil has fallen even more now. Now oil has fallen to $46 a barrel, and gold is flat.
Because the entire Wall Street will think that one is South Korea's overall failure in epidemic control, and the other is the complete defeat of Italy. The level of medical care in southern France and southern Eastern Europe is relatively low. Wall Street is very worried that the overall epidemic in southern Europe will have a major outbreak.
There is another political reason for the decline in the U.S. stock market. Bernie Sanders, the candidate for the U.S. Democratic primary election, dislikes Wall Street very much. Therefore, Wall Street believes that if Bernie Sanders becomes the president of the United States in the 2020 U.S. presidential election, it will have an impact on the U.S. stock market. Cause a further decline. So this is a double blow, which means not only the epidemic, but also political reasons, which caused the overall decline in US stocks. What does that have to do with Bitcoin? I just mentioned one point, that is, you see a drop in oil and gold prices.
In the past few years, traditional financial institutions have entered our industry; they classify Bitcoin in Commodity, and all oil and gold are also commodities in this category. In the downturn, they will dump all commodity futures, including Bitcoin. Gold and Bitcoin are still safe-haven tools in their view, so if the stock market rebounds, these two safe-haven assets may rebound sooner. When the entire stock market panics and falls, all commodity assets will fall, including Bitcoin. But once it rebounds, Bitcoin will perform better. Especially this year is halved. Generally speaking, three to six months after the halving will have a very good performance, then everyone may know that the Bitcoin halving is in May this year, then the three to six months of May will be added to this year. The third to fourth quarters of the second half of the year.
Therefore, I am cautiously optimistic about the trend of BTC in the first half of the year and very optimistic about the second half of the year. Of course, I hope our Metaverse DNA will perform better. I continue to bearish oil, bullish gold and Bitcoin.
Moderator Zhang Tong: 2020 is not only a halving year, but also a year for public chain friendly. This year, several star public chain projects with billions of dollars will be gradually launched and applied ecology. People are looking forward to it and the public chain circle is lively and excited. Your judgment on the industry in which direction will the competitive landscape of the public chain go in 2020? What is the position of Metaverse DNA in the competition?
Early Summer Tiger: 2020 is a halving year, but in fact, 2020 is not the friendliest year. I estimate it will be 2021 or 2022. In 2020, everyone will see the development of many alliance chains. Especially in this 1024, we are on the land of China, you will find that there are a large number of alliance chains and private chains, and there will be a large number of people who support to join them. Of course, this is also good.
Last night, I participated in a conference on the development of a standard blockchain standard with Teacher Huang, and I was responsible for this data authentication. If the alliance chain goes far, there will also be digital assets, digital identities, contracts, data privacy protection, security, etc. Some interactions between the alliance chain and the chain have very important assets on the alliance chain, how about the identity contract Interact with each other.
So with regard to the cross-chain of the alliance chain, the interoperability is very important. Instead of connecting two alliance chains, it is better to cross a public chain (which can be Metaverse DNA) for all alliance chains. Hope All chains can cross the Metaverse chain, all public chains, and all alliance chains.
So all smart contracts for digital identities, all Oracle oracles. All interact on this Metaverse DNA network. Metaverse DNA's smart contracts can operate digital identities and contracts of other chains, which is fun. So there are two points, one is the tokenization of digital assets, and the other is the interoperability of smart contracts.
Moderator Zhang Tong: You mentioned in the previous interview, "I hope that when you mention Metaverse, the first thing you think of is the digital identity application "Bitident". Because digital identity may be the killer application of blockchain in the future. "Excuse me, what is the leading advantage of Metaverse DNA in the application of digital identity compared with other public chains?
Chuxiahu: Thank you host for this question. We have always believed that digital identity is very, very important. On the blockchain, we believe that digital assets, digital identities, and then oracles, or smart intermediaries, smart contracts, are very important. But looking back, digital identity is actually a very important key point that links these other things together. Ordinary people actually have no way to seize a digital asset. Digital assets in the true sense can only be owned by virtual identities. Or we are physical people. In fact, a smart contract that cannot execute a smart contract can only be executed by a digital identity.
Metaverse believes that digital identity may be the most important part of the entire blockchain ecosystem. Because it actually connects digital assets and smart contracts, or our smart intermediary also needs to be authenticated by a digital identity. Many of these zero-knowledge proofs, these technologies are all around the digital identity, and a big part of the blockchain is the right to confirm the data, the protection of data privacy, etc., and the security of the data. Do it around digital identity. So we will say that digital identity is the killer application of blockchain in the future. In 2018, we at Metaverse published the second edition-a white paper called Digital Identity.
We at Metaverse are the only project in the entire blockchain ecosystem to write a white paper for digital identity. The white paper is now on our official website of Metaverse. If you are interested, you can check it out. Of course, this white paper has been written for two years. In our industry, two years are definitely equivalent to seven or eight years, so it is a bit old. It is indeed necessary to update it, because recently there are many new experiences and ideas. It is really busy without time. The white paper was written by CTO Chen Hao, and there are many technical experts in our Metaverse project.
In the true sense, among all public chain ecosystems, not too many have put digital identities on the agenda, and there may only be three or four. Then there are only two or three public chains with digital identity products, so in the true sense , it is possible that only us Metaverse will land these products. Our German programmers helped us implement the first application of this digital identity, the Bitident project. That is to say, if you use the Bitident application, you can log in to the decentralized application with one-click with Metaverse's digital identity, and you may also use this application to log in to the exchange with one-click. This is a very interesting point.
Moderator Zhang Tong: Some people say that “2018 is the year of the outbreak of the public chain, and 2019 is the year of the avalanche of the public chain.” If you use one more word to describe what will be in 2020?
Aurora: In the past two years, this circle’s intuitive perception of the public chain is that the track was once very crowded, and countless business and technical elites were attracted by the development of ETH/EOS to compete for the public chain. Therefore, the number of outbreaks in 18 years is more quantitative. Outbreak rather than quality. In 19 years, with the correction of digital currency prices, many projects fell into a state of silence. The public chain was no exception. Many competitors withdrew for various reasons, but there was also a batch of public chains that continued to stay as technology. team. What we saw in 19 years was an avalanche of public chain prices, but public chain technology has been developing, and new solutions have been constantly proposed.
Entering 2020, public chain technology needs to continue to solve blockchain problems and make breakthroughs. However, after the survival of the fittest and two years of hardening, the team, technology and market are more mature than the initial stage of the project. To describe it in one word, that is Transformation, this time there will be more project teams looking for technological breakthroughs based on market demand and scenarios, instead of blindly pursuing technological innovation and new technological concepts, there will be more technical solutions to be applied, and the quality and development of these projects will also Will ultimately be reflected in the investment value.
Charles: People's cognition goes from ignorance to blind obedience to suspicion, which is exactly similar to the sudden outbreak of the public chain to an instantaneous avalanche. Now that we have experienced barbaric changes, the future development will only be more reasonable and return to rationality. That corresponds to the public chain in 2020, which is a year of "steady" work and a year of "steady" growth.
Aurora: The dual parallel main chain architecture adopted by Metaverse System, ETP security chain + DNA fast chain, each runs independent token entropy and DNA tokens. The two chains can communicate and exchange assets through cross-chain interaction. From the perspective of the token economy, can I tell you about the respective value propositions of ETP and DNA tokens and their value relevance under the future dual-main chain architecture or a completely independent system.
Chu Xiahu: This dual-chain design gave us a good opportunity to rethink the economics of tokens. At that time, the design of ETP was still primitive. The design of DNA's token economy is a relatively advanced design in the public chain industry in 2020. The token economy is used to incentivize 23 super nodes and user enthusiasm, participate in project governance, encourage users to participate in the entire DNA ecology, and help DNA perfection Blockchain network.
This year, the ETP project will continue to serve the security of the double-stranded system. After the DNA network is stabilized, the token economics of ETP will be reintegrated into the DNA structure.
Charles: In the just-concluded Metaverse DNA fourth phase of the super node election, it reached a new high. It ended with a total of 9.3 billion votes. A total of 23 super nodes were elected. How can the elected super nodes be autonomous? What are the advantages of Metaverse DNA's super node election compared with other public chains?
Early Summer Tiger: https://www.dnavote.com/, click on the official website of the DNA super node, you can see the first one and you can apply for the node. We are now in the fifth round of elections, and the 23 winners become 23 super nodes. Metaverse DNA’s super nodes hold elections every 15 days.
The income reward for each election is less than 10%, but there are so many every 15 days. So I call on everyone to actively participate in the vote, because the rate of return is particularly high in the early stage, and the second is the financial strength. This very strong institutional investor welcomes you to become one of our big nodes, the largest super node.
The same aspect of this super interface of any other project party needs to be produced, and participation in governance of all major major decisions requires 23 nodes to vote. Our super nodes have much more permissions or rights than other projects. For example, our own 23 super nodes must be able to support our lightning network payments. The second point is that each of our super nodes is a gateway to cross-chain or interoperability, and the handling fees of these cross-chain channels will be attributed to this super node.
Another very important point is that the DNA design is very close to Defi. On this Defi platform, the most important point is the decentralized exchange. Then this decentralized exchange is not only an exchange in the traditional sense. It will also have functions such as lending, trading, leveraged futures stablecoins, IEOs, etc. Super nodes will have to take on these tasks, and these tasks are There is a high rate of return, so the tasks and benefits will be a lot to be done by other projects.
Aurora: Making breakthroughs in blockchain performance and scalability has always been the hot direction of the public chain track. In this regard, Metaverse DNA is in the same camp as world-class blockchain projects such as Cosmos and Polkadot. Then Metaverse is solving public blockchains. What are the highlights of the scalability problem? What are the differences between the cross-chain communication technology we use and cosmos and polkadot?
Chu Xiahu: The bad news is that it seems that Cosmos has withdrawn from competition. This is a pity, because in this industry, competition is not what is afraid of. The fear is that there is no partner on the road.
I think what Cosmos pursues is multi-chain. Multi-chain has its advantages, especially in cross-chain. However, the overall architecture is too complicated, and it is difficult for many business users to understand his multi-chain system. So I think double chains may be really good, one for safety, and one for speed and performance and cross-chain.
Multiple chains may be a good solution from the perspective of technical developers, but it will be more difficult to implement commercial applications, so I feel that Polkadot is strong in his entire cross-chain communication protocol technology. Very strong, but our DNA is simple and easy to use in commercial applications , and there will be many projects willing to land on our DNA.
Charles: With the fierce competition in the public chain, what are DNA's own original breakthroughs?
Chu Xiahu: The competition in the public chain is indeed fierce. The advantages of DNA are the following:
1. Innovativeness : It is not limited to one chain to solve performance, decentralization and security issues, but a two-chain design.
2. DNA does not pursue extreme decentralization, but uses 23 super nodes, which can greatly improve efficiency without sacrificing decentralization, and put great rights and obligations on super nodes. node.
3. DeFi is the most optimistic for blockchain applications , and DNA puts the first application, decentralized exchange, in a very important position.
The biggest advantage of DNA is that Chuxiahu himself and the R&D team can grasp the pulse of the industry and put the latest overseas R&D results in the blockchain project of Metaverse. At the same time, it is very grounded in China and firmly grasps the domestic application scenarios. live.
Aurora: What is the key direction of Yuanjie DNA's ecological application layout in the future, for example, do we focus on the development of Dapp community, DeFi finance or blockchain industry solutions?
Chuxiahu: In fact, in our philosophy, the super node is actually our super partner. If it is a super partner, they have a lot to do, and the task of connecting with DAPP becomes the responsibility of our super partner. In other words, in fact, our project team will dock DAPP, but the super partners will also do it because they also have interests.
If our project team connects to DAPP, will it be seven or eight a year or ten? But if we have 23 nodes. If all 23 super partners go to connect with the DAPP, then we will have more than 100 a year, or even more. In fact, maybe the ability of the super partners will be stronger than ours, because after all, our technical team
Charles: How does DNA balance technology and the community's demand for rising currency prices?
Chuxiahu: Take Ethereum as an example. You can see that. When Ethernet was in 2016, the earliest they completed a whole technology, market and community. In 2017, when the big cycle of this industry comes, with the beginning of this cycle, their growth rate will be much higher than that of Bitcoin. Because I still remember it on February 11, 2017. The price of Ethereum is only $11. Later, I kept watching Ethereum rise to more than RMB 2,000. Then at the beginning of 2018, it rose to 1,400 US dollars, which is about 10,000 yuan.
People like us who participated in the early ICO of Ethereum. When you saw that the Ethernet rose to $1,000, did you doubt life when it was $1400? So has the entire ecology and technology of Ethereum regressed? Certainly not, it's progress.
In other words, in fact, from January 2018, Ethereum saw its highest point. As of today in January 2020. During the entire two years, Ethereum has continued to improve, and they have hard forked two or three times. This Ethernet conference was held recently. It is the most important conference in the entire blockchain industry. Ethereum is in a better state now than it was two years ago. Their ecology is doing better, especially in decentralized finance. And this NFT is very good.
Therefore, sometimes the price does not have much to do with the efforts of the project leader, that is, the industry cycle is related to the market and community construction. It is even more related to industry cycles. So for me, what can I do? I think I still have some sensitivity to the market. This is why you will see that when we launched Metaverse, it was in August 2016 at the earliest, because I know that 2017 is the beginning of a big market cycle.
Now, look at why our DNA came out at this point in time. The reason is simple. It will be halved in May. Then the second half of this year is the beginning of a big cycle. Therefore, I hope that through this big cycle, I can seek a wave of benefits for all the holders of the DNA of this community.
Charles evaluates the project: I hope Metaverse DNA can walk more stably, not faster. In a world where "ghosts and monsters" frequently appear, stick to your original intention and develop steadily, so that more people can see the advantages of Chinese technology, and more people can recognize the leadership of Chinese technology in the blockchain field. In the application field, we can really solve the problem. At this point, we at Keyin Capital will open the door to Metaverse DNA at any time. For any resource needs, whether it is the traditional world or the blockchain world, as long as we can provide help, we will definitely support it.
Aurora Evaluation Project: As a dual-chain system solution evolved from China’s first public chain Metaverse, the DNA project has achieved success in blockchain scalability, high performance, privacy and security, interoperability and community governance. Groundbreaking and original solution results,
While building a benchmark for domestic open source public chains, DNA is also constantly improving its own application ecology including DEX and DeFi. Let us together wish DNA a more prosperous development in 2020 and occupy a leading position in the global public chain ecology.
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Nova Club Superstar Dialogue Issue 10 | Double-chain Public Chain Metaverse Challenges Nova Club Investor Team Dialogue Complete Works
