On November 28, the 2018 POD New BlockTrend Blockchain Summit, co-hosted by Odaily and 36Kr Group, was held in Beijing.
Finance, as the most valuable scene of blockchain, has always been a must for many giants to implement technology. As a typical representative of blockchain finance in the Tencent system, Chief Architect of WeBank Blockchain and FISCO BCOS Platform Architect , Zhang Kaixiang came to the summit site, delivered a speech on "The Sublimation of the Alliance Chain-Public Alliance Chain", and shared a new understanding of the alliance chain. He believes that the current public chain is not owned by the public, and the alliance chain is not an "alliance" that encloses itself. It not only serves the members of the alliance, but also has the opportunity to serve the public.
Zhang Kaixiang put forward the idea of "public alliance chain", and believes that there are three key points: one is to serve the public, that is, the public, as the service object of the chain, can access the services provided by the alliance chain through the open network; the second is alliance governance, that is, the alliance It is the owner and operator of the "chain", which realizes the exchange of information and value through the "chain"; the third is distributed commerce, that is, peer-to-peer cooperation between multiple institutions, which improves the joint efficiency of institutions, improves experience and scale, and reduces costs and risks.
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The following is the original text of Zhang Kaixiang’s speech:
Hello everyone, today I will not talk about technology, but about new trends, what new trends are there in the blockchain.
Bring a keyword: public alliance chain. There are two keywords here, one is "public" and the other is "alliance". It reminds people that there are public chains and alliance chains in the blockchain camp. The route chosen by WeBank is the alliance chain.
First of all, let’s look at the public chain. The consensus algorithm determines who has the right to book and make decisions on the chain. Now let’s look at the main examples of the public chain, Bitcoin and Ethereum. The top 10 mining pools basically have more than 90% of the computing power ,I don’t say that this kind of chain is centralized, but there may be a trend of centralization. The 21 super node model of EOS was evaluated by experts just now as an "elite" governance method, and there are also many controversies.
Let's see if the public chain is serving the general public. The global population is close to 8 billion, of which there are more than 4 billion Internet users, and the number of users of a single business service of several major Internet companies in China may already exceed 100 million. but weFrom the analysis of data such as the number of accounts on the public chain, the service population is about 20 million people, which is actually a relatively small scale.
How much data is on the chain? We can see that,Its data capacity and information volume are actually very, very small compared to the entire Internet and even global data.
Let's talk about the consensus mechanism.POW and POS embody a philosophy of computing power or wealth competing for bookkeeping rights in the entire distributed collaboration, which is a game of competition. In fact, in addition to competition, the real economy emphasizes cooperation and collaboration.In the real society we know, a large number of enterprises, individuals, and entities have obtained business licenses, authority, and reliable business service capabilities in certain fields through credit channels such as licenses and asset mortgages. This is actually a multi-dimensional trust mechanism that has been tested by real society.
Why do you trust a company, why trust a person? He can take out his license, legally and socially recognized credit endorsement, are these the basis of trust? It is, and this foundation can be used to cooperate and collaborate.
Therefore, we think that the alliance chain emphasizes collaboration and cooperation. However, there may be some difficulties in the implementation of the alliance chain before, or it has not reached a breaking point. Many people think that the alliance chain is a small circle of the "Alliance". But we believe that the alliance chain can not only serve the members of the alliance, but also have the opportunity to serve the public. How to do it?Consortium chain + public, public consortium chain.
There are several key points,The first is to serve the public.The public can use APP, web pages, or access to the public alliance chain to obtain services through various real economic scenarios. But these services are not provided by a single company, but by an alliance. There may be multiple companies, multiple entities, and even multiple individuals in this alliance, as well as the participation of governments and judicial institutions. The owner and operator of the chain is an alliance, and each participant can achieve the effect of one plus one greater than two through the cooperation of the chain, which embodies the logic of distributed business. That is to say, now many business scenarios cannot be completed by a single organization or a single enterprise. They work together to form a chain. This chain uses consensus algorithms and smart contracts to build fair and transparent business rules to improve the efficiency of their own operations. Scale, user experience, while reducing risk and cost, these keywords add up to the philosophy of the public alliance chain.
What are the requirements for alliance chain technology? Let’s look at governance first. As an alliance, in terms of technology construction and cooperation model, we must be able to quickly and low-cost form a cooperation alliance and build a chain, so that we can quickly trial and error and quickly introduce it to the market , Quickly serve more public. Serving the public is an experience of To C. To C experience requires the ability to quickly respond to needs, even to achieve Internet-level response capabilities. Technically, fast and low-cost supporting support is required.
The second is the multi-chain and cross-chain ability to handle massive transactions;Just now I mentioned that the public chain only has 1T of data, how much data does the real economy have? T-level, P-level or even more, the ability to manage data must be stronger, and there will be many scenarios that need to be connected with each other, which requires the basic ability of multi-chain and cross-chain.
The last point is open source and open;We often hear a saying that the code of the blockchain should be open source. Open source code has several advantages. First, it reduces IT costs. Second, if everyone builds and operates the chain based on such an open architecture, then there will be a good interoperability foundation, which can become a de facto standard. As a form of multi-party collaboration, if it is an open source community, everyone will jointly create and update a technology platform based on transparent collaboration and mutual trust, which will also have great vitality.
Based on the technology platform, we believe that there are still many basic functional modules to be realized in order to build a public alliance chain ecology. The first is alliance governance. The alliance can have a committee, or multi-party joint voting, and peer-to-peer cooperation, which reflects the choice of governance model. The second identity management, whether everyone in the alliance members has a credible identity, whether the public will have a unified identity, so that they can control their own information and assets, and this identity management must conform to some existing systems to support regulation. At the same time, the user generates a commercial behavior on this chain, such as a consumption behavior and a payment behavior. These behaviors can be used by more chains, and are notified, responded and processed in the entire system, and finally generate a large amount of data Afterwards, we need to manage, maintain, segment, store, etc. massive amounts of data, as well as clearing and settlement, judicial support, etc., all of which are based on the general capabilities of the underlying platform of the public alliance chain.
The public alliance chain we envisaged is not a chain. People often ask me,Does Golden Chain Alliance or your Weizhong provide a unified chain? Actually not. We have not built such a chain, we are providing open source solutions.
Based on this solution, in every business scenario, every region, and every industry, some institutions may cooperate to build business services based on blockchain. Similar to the B2B2C model, many alliance chains will appear. For example, an alliance chain in one region needs to communicate with another region, or an alliance chain in one industry needs to communicate with an alliance chain in another industry, share some resources, share some users, and open up some data. way combined. Cross-chain does not necessarily require a centralized or centralized chain to manage, it can be connected through the entire Internet, which creates a situation where a single spark can start a prairie fire.
Many organizations in many industries can first build their own distributed business model based on the technology and operation mode of the alliance chain, and at the same time combine and connect in the future to form the entire ecology of the public alliance chain in the future.
FISCO BCOS is a basic platform for supporting the public alliance chain. BCOS is derived from Block Chain Open Source. The FISCO BCOS used by WeBank is exactly the same as the version open to the community. This is a stable and efficient solution that has been verified by production business. It is safe and controllable, supports supervision, and can serve financial scenarios. We all know that finance has high security requirements, and we have also made a lot of security guarantees to meet the corresponding requirements.
In terms of community development, FISCO BCOS started open source at the end of last year, providing a large number of code bases, including underlying platform codes, application cases, development and use documents, etc. At present, the entire community has more than a few thousand real-name participating members. There are already hundreds of institutions participating in it, and a large number of applications have been implemented based on the platform.
Let me show you an example. This is a platform-based application in 2017. It includes clearing and settlement, arbitration certificate storage, social management, games, tourism, etc., among which many applications are naturally grown by the entire community, which reflects the community's Power, the power of open source. Based on the open source platform, everyone explores and promotes independently, and cooperates with each other in the future, and will eventually form the ecology of the public alliance chain. We believe that this is the key to unlocking the distributed business model, and it is also a major trend in the development of the blockchain.
