On July 10th, Odaily and BlockBeats. The co-hosted StakingCon - Staking Ecological Conference was held in Beijing as scheduled.

Harriet Cao, Head of Cosmos China & Founder of IRISnet, delivered a speech on "BPoS Cross-Chain Service Network with Self-Evolution and No Forking". In the speech, Harriet introduced the cross-chain network Cosmos and IRISnet's cross-chain vision and core innovation point.

She believes that the value of the cross-chain network is that it is impossible to use a large public chain to solve all problems in the future. In the future, there will be countless independent ecological chains, and the asset value and information between partitions and partitions will be completed through cross-chain hubs. transmission. Supporting the blockchain application proprietary chain through cross-chain technology is the solution to the problem of truly decentralized and distributed applications, and a solution that truly achieves a balance between the three impossibilities.

Hello everyone, it is a great honor to share with you the work we have done on cross-chain technology and distributed applications. Our team is the Chinese developer of Cosmos.

How to make complex technical support really come to the ground? Everyone has different practices around this issue, including the various sharding technologies mentioned today, and the shift from PoW to PoS.

The value of Cosmos is that in the future, we cannot use a large public chain to solve all the problems. The problems we have to solve are very complicated. The future blockchain will be a world of blockchains where a hundred flowers bloom, and there will be countless independent ecological chains. Partitions and partitions complete the transfer of asset value and information between them through the cross-chain hub.

In our opinion, to solve the problem of implementing truly decentralized distributed applications, and to achieve a balance between the three impossibilities of "security, performance, and decentralization", the solution is to support the blockchain through cross-chain technology Application-specific chain. We have been exploring an open cross-chain communication protocol - IBC, which can support the multi-hub blockchain Internet more securely.

The main core innovation of IRISnet is: we provide a service-oriented blockchain infrastructure; we have also expanded on IBC, which can not only support the cross-chain transfer of tokens, but also integrate Computing services: including public chains, alliance chains, and existing traditional enterprise information systems; allowing more complex resources such as data and complex calculations to be used across chains.

In our architectural concept, it should not be just a centralized hub to solve such cross-chain collaboration, but a cross-chain dual-hub collaboration to support better distributed governance.

Cosmos completed the design as early as 2014, and is now leading the development of IBC. After the implementation of IBC, everyone can see the flow in an open system, and more applications can be realized, including ETH, BTC, and decentralized exchanges.

IRISnet is a cross-chain hub that focuses more on distributed applications. For example, BEAN is our data analysis exchange alliance chain, and PlanON is a privacy computing service.

In my opinion, Cosmos has brought three most important contributions and innovations to our blockchain industry: one is the Hub. From 2014 to now, more than a hundred projects are developing their own application chains, including IRISnet. There is also Ethereum that everyone is concerned about; another very important contribution is the Cosmos SDK, which is the most complete tool component that we can see now, supporting the modularization of building your own blockchain applications; the third IBC Protocol.

There are also a lot of innovations in the Cosmos SDK. Not only one hundred nodes, but two hundred nodes and even all owners can participate in the network consensus through this form. Last week, a node was fined 5 for double signing. % pledged tokens, in Byzantine Fault Tolerance, any malicious node will be caught and punished immediately, and will be put in prison.

If you want to develop your own application chain, you can not only have many out-of-the-box modules, but also contribute your own modules. The relevant advanced governance functions are all developed by our team in Shanghai.

Next week, we will test the multi-asset management module on the test network, which is the basis for supporting open financial applications. We are very proud to say that we are the first blockchain capable of self-evolution.

Tendermint&BPoS is a module that can customize its own incentive mechanism. Developers can fully customize and use their own tokens to support the staking and slashing mechanisms. In addition, why do we think BPoS is very suitable for open finance? First of all, the interaction of on-chain and off-chain resources is very fast. It has a feature that the state is already determined when a block is produced. You don’t need to wait for several blocks to know the state of the network. This is why Tendermint can be used to build cross-chain The hub, the finality of this piece is not bifurcated.

On-chain governance module. We have a variety of support for this module, including the software upgrade mentioned now. Many people say that the 21-day unlocking period is too long, and this time can be governed by everyone's vote.

Another point of IRISnet is that when supporting the interconnection of these systems, it does not rely on cross-chain communication protocols. If any blockchain sets its access rights to be accessible by other blockchains, the chain It is possible to see the definition of the service and call the underlying IBC. If the IBC is not completed, IService can also be used as a processor.

To summarize a little bit why do we need cross-chain? The operability provided by cross-chain can make the value not only limited to one chain. When this value is really circulated, we can really see the realization of the value Internet; through cross-chain technology, if a chain cannot run we You can open another one, and the cross-chain hub can undertake the cross-chain communication protocol to support each other for a safer and more efficient ecology.

This year is a very special year. This year marks the 10th anniversary of the launch of the Bitcoin mainnet and the first year of cross-chain. It is a great honor to introduce cross-chain technology to you here. The time is very short and the introduction is very shallow. I hope you can pay attention to us and work together to create a blockchain value Internet that is full of flowers. Thank you.