Not mine encryption currency aftershocks, NVIDIA fourth quarter “bad ending”

Cryptocurrencies cold snap brings mine aftershocks is not small, although have reduced revenue expectations, the chip maker NVIDIA performance over in the fourth quarter of fiscal year 2019 unpleasantness.

According to Ying Weida (NVIDIA) the latest earnings report, fourth quarter revenue of $2 billion 210 million (as of January 27, 2019), compared to last year ($2 billion 910 million) fell 24%, down 31% compared to $3 billion 180 million in the first quarter.

According to U.S. GAAP (GAAP) calculation, the quarterly earnings of $0.92 per diluted share, compared to $1.78 for the same period last year fell 48%, compared to $1.97 in the first quarter fell 53%. If not according to U.S. GAAP (GAAP) calculation, then diluted earnings per share of $0.80, compared with the same period last year fell 53% to $1.72, compared with the previous quarter’s $1.84 fell 57%.

For the frustrated transcripts, NVIDIA will blame the monetary boom in excess of the encryption channel inventory, and terminal market conditions recently worsening. CEO Jen-hsun Huang described it as “bad ending a brilliant year”.

For the beginning of 2018 to GPU in the mining business display skills to the full chip NVIDIA, at least look very appropriate.

In February 2018, pushing the market tide crypto currency mining mining, mining as graphics chip maker NVIDIA graphics, prices have gone up. In the 2018 annual report of the conference call, Jen-hsun Huang said: “you can not go to care about crypto currency. This is a global social and economic phenomenon. For the mining market, we must also be aware of its existence, and to ensure adequate inventory to meet”.

But with the rapid market into the crypto currency bear, NVIDIA in the quarter in the digital currency mining business revenue from $2.89 billion in the first quarter fell to 1 billion dollars. The risk of attention to digital currency business, NVIDIA had to last 8 months because of low profit and formally terminated in the business investment.

But clearly, stop investment also did not let NVIDIA a lot easier, because mining less profitable, had to inventory is becoming unsalable.

In November 2018, responsible for global sales of NVIDIA’s executive vice president of Jay Puri in the GPU Technology Conference Chinese station explained that before the encryption currency flows, GPU channel price, with the decline in money market GPU encryption, the channel prices did not show the expected loosening, caused a surge in stock.

The data are true, 2019 fiscal year 3 results, inventory turnover days 84.23 days, compared to the first quarter of 62.94 days the number of days of inventory turnover, turnover slowed the pace. In the latest earnings column inventories, inventory number fourth quarter compared to the same period last year, the number has increased 50%.

Source: NVIDIA (NVIDIA) fourth quarter earnings

“Mine” has brought a series of chain reaction. Last December, according to Bloomberg news, Japan’s Softbank plan will be at the beginning of 2019, the sale of the company held by the semiconductor giant NVIDIA (Nvidia) shares for NVIDIA shares continued to fall. The NVIDIA’s share price fell by reason of declining demand is crypto currency mining.

At the end of this year 1 month, NVIDIA will fourth quarter revenue is expected to decline from $27 to $22 billion, the reason is the lack of relevant channel excess inventory, and the blockchain GPU income and low memory sales”.

However, despite this disappointing encryption currency, but despite this setback, NVIDIA also said, but all have confidence in its basic status and service market, and emphasized its long-term advantages: including the acceleration of a NVIDIA computing platform, artificial intelligence, robotics, automatic driving vehicle.

The most practical introduction to the EOS manual, the first collection to see (with 106 tools link)

This paper | Aloe

| editor Lu Xiaoming

 The most practical introduction to the EOS manual, the first collection to see (with 106 tools link)

Editor’s note: in 2008, bitcoin white paper released marked the official start of the block chain risks; in 2018, EOS was born, is seen as following bitcoin, Ethernet third generation public square chain, within a short period of time has attracted the blockchain world attention of many, although the way is also accompanied by controversy, but EOS innovation in technology and concept is still worth learning. According to EOS, the ecological planning, will be divided into EOS EOS birth Road, wallet, BFT-DPOS account and consensus mechanism, resource allocation, community governance, DApp, ecological economic model, intelligent contract, side chain and branch code of 9 parts, each part of the site index, will help you more understanding and learning EOS.

In this paper, in order to help readers better understand this, in reading “100 questions”, “block chain block chain class 100 asked”, and asked the EOS20 workshop manual entry of ethernet.


One, the birth of EOS Road

Two, account and wallet

Three, the BFT-DPOS consensus mechanism

Four, resource allocation

Five, community governance

Six, ecological DApp

Seven, intelligent contract

Eight, economic model

Nine, bifurcation and side chain code

The birth of EOS Road

What is the EOS? Can be said to have two meanings, can refer to the EOSIO software, we often say that the EOS or EOS backbone network; can also refer to the EOS platform for the circulation medium, EOS passes the /Token/ token.


EOSIO is a technology development team called as a software platform, its technical framework to build a block chain at the bottom of the operating system, the similar blocks in the chain, developers can quickly and easily build EOS distributed application software based on DApp.

EOSIO V2.0 technical white paper describes the software: “this software provides account, identity authentication, database, asynchronous communication, and the distribution of the program scheduling multiple kernel CPU or cluster. The resulting technology is a block chain structure, performance of the framework can be extended to the second million transactions, eliminating user fees, application and allows for quick and easy deployment to the center of the.” Generally, EOS (Enterprise Operation System), is a commercial for the design of the distributed application block chain operating system.

Before the public EOS public key chain, chain bitcoin, Ethernet two public square, the chain is facing low throughput and high fee problem, in this regard, the parallel EOS chain and BFT-DPOS consensus mechanism way is committed to improving the above problems. EOS network on August 2018 officially launched.

  • EOS card

EOS syndrome (also called “Grapefruit”) is the value of the vector EOS, is an important tool to obtain, cyber source user voting, as each EOS ecological role in the series exchange role, in the EOS network on the front line, EOS was Fang ERC20 token based on Ethernet network, 2018 on the line, these ERC20 token by mapping become main native real passes. The mapping is equivalent to build a bridge between Ethernet and EOS square, in the main line, the need to generate a backbone EOS native currency address, and the Ethernet square wallet is associated with a series of operations, before June 2nd, will require temporary EOS tokens into the etheric Fang wallet, after 23 hours EOS, will be a snapshot of the wallet in EOS tokens, and in the form of the EOS platform to drop through card sent to your EOS address, after 48 hours, the etheric square on the temporary EOS tokens will be frozen without using the method.

EOS card has two different distribution methods: chips and seo. In the main line without anaphora temporary EOS ERC20 issued a token based on Ethernet Fang, raised all the way through the issuance of 1 billion pieces, all the chips in the beginning of June 23, 2017, and by the end of June 1, 2018, the ICO lasted 341 days, financing amounted to $4 billion, as the largest amount in the history of ICO. In the EOS main line, the annual additional 5% EOS, of which 1% blocks will reward producers and nodes.

  • BB and BM

How EOS is born? Cannot do without a company called, the company has two core characters, one is the CEO of Brendan Blumer (BB), a chief technology officer Daniel Larimer (known as bytemaster, people used to call him BM), founder of the Bitshares bit (to the center of the stock exchange), Steemit (to the center of the social media), is regarded as a gifted programmer, EOS is his third block chain business.

There is an interesting story worth sharing, in July 2010, BM Bitcointalk posted that bitcoin 10 minutes a transaction confirmation time is too long, and change the consensus mechanism can achieve this point. Nakamoto So said: If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.

Site index

1, website official website, EOSIO official website: the reader can have a general understanding of the EOS and EOS behind the team, but also can be easily linked to some website: for example EOS VC developer portal site EOSVC, EOSIO Developer Portal (an open source EOS development tools provided by the official platform, including senior documents, reference SDK and basic and advanced data and guide tutorial), EOSIO (EOSIO blog can track the latest developments, the updated version), 2018 roadmap (English Edition) (Chinese version).

If the EOS has more questions or want to get more development resources, can visit the StackExchange website, EOS Chinese quiz community, this is a summary of the Forum on EOS problems.

2, must look at the white paper

2017/5 – EOSIO V1.0 technical white paper (English version), Harvey @OracleChain, Chinese translator wolf Tan Zhiyong @OracleChain, Song Chenggen @OracleChain, @HelloEOS Cen zi;

2018/3 – EOSIO V2.0 (UK) technology;

EOSIO technology V2.0 (Translated): Jing Kai @EOS42 in the first EOS version based on the revised technical white paper changed into.

3, the main leaders of speech

BM: medium, GitHub, Twitter account blog (blog 2017 years ago).

BB: medium, Twitter account (the official EOSIO blog.).

4, recommended reading

“EOS Ecological Research Report”

“EOS episode: born Steampunk time” scam “and” blockchain

Account and wallet

  • EOS account

EOS accounts can be regarded as EOS Chibidaigou access EOS online a voucher system. Have a EOS account, which can transfer, in EOS’s chain of voting, use of cyber source and the use of DApp.

As a Alipay account, in bitcoin and etheric Fang, account by a private and public address of. The public key can be understood as the account address, can be understood as the private key can be understood as Alipay number, account password, key, as Alipay password; the public key and the private key is a string system to generate a long list of.

In EOS, the public key account address 12 custom characters, it is convenient for the user to memory transfer between users through the account to operate.

The private key is different, more natural rights segments, corresponding to the two key: Owner 1, key 2, Active key. All control permissions for the Owner key can be understood as the account, with Owner key, you can do anything on this account of any thing, which is the highest authority of it, such as the modification of the Active key, a new or delete permissions; Active key can be understood as the capital account management authority, if there is. Active key, the user can only transfer the account funds can’t do other things.

It is also worth noting that create a EOS account to pay the extra cost. Why? Create account need to be stored in the EOS network, to take up production block chain node (BP) memory resources, size is generally 4K. While the memory resources are limited and valuable resources, thus creating account there is the cost of the memory prices and EOS prices with the market changes, so the main EOS account registration price is changing. (see Chapter memory resources)

Unlike Ethernet square EOS account account, unable to generate their own needs, from an existing EOS account to register EOS account.

  • wallet

The wallet is used for digital asset management tools. But in fact, digital assets stored in the EOS chain, the main function is to produce or store the private key purse, which at the time of transaction can be signed (similar to enter the payment password). It is a run on your local machine program, the PC and the mobile terminal can be.

The name of the official EOS wallet is keosd, which is responsible for the management of your private key, and help you to trade the signature. But keosd wallet for ordinary users is not friendly, it is a command line program, there is no Ethernet square like mist like graphical interface, but also can only run on Linux or Mac operating system, for developers, the existing nodes and offers user friendly wallet purse.

  • Site index

1, EOS Account Registration Platform

At present, there are four channels EOS account registration:

The browser plug-in registration: Scatter plug-in as the representative, is based on a browser plug-in EOS wallet, based on the chrome browser. For the safety of EOS assets and private key, with open source, the security of Scatter is the best choice, but the operation is more complicated, and the need to have a EOS account to help friends. This online tutorial.

Light wallet registration: EOS wallet service providers are usually launched EOS account one-stop registration service, users can buy Alipay Fiat activation code, can be a key step in creating, is more simple and suitable for white users EOS. For example: TokenPocket (registration cost 4.9RMB) and Morewallet (registration cost of 9.9RMB (EOS), Hufu wallet account suspected anchor cannot operate here to provide EOS money and resources, EOSVibes (emergency) to provide users with a number of security keys used to generate EOSnameswaps (device) , a good number of transactions intermediary platform). In this odaily tutorial.

Exchange registered : with other currency exchange with one click readers can create a way to exchange TOP.ONE as an example, EOS wallet support ETH, BTC, self created USDT, EOS 4 token payment.

Command line: registration is the official EOS wallet keosd registered account, belonging to high-end play, this kind of registration method in EOS network, just on the line around the tool has not been perfect as early users registered “liang”. According to an overview of Keosd, keosd in eos/build/programs/keosdEOSIO / EOS repository folder in the command line, to create local wallet registered in the docker environment, and then register the account name. The tutorial “5 minutes Institute of certified EOS network accounts, voting and issuing”, “taught you how to fix EOS Liang cybersquatting”

2, wallet: as EOS ecological entrance, EOS wallet is numerous, mainly divided into cold wallet (hardware wallet), mobile wallet, Web wallet, browser plug-in wallet, in addition, the GitHub can also find many open wallet.

(1) cold Wallet: Ledger Nano S, Trezor (Trezor Model T Bepal Pro will support EOS), S, Cybex, Memory, Box wallet Kuyt cold wallet (Starteos team produced)

(2) mobile wallet: the same function, generally have more sign, create an account, transfer, sale, DApp, voting page resource portal features, including support for the business chain wallet and node EOS produced by the special purse.

EOS LIVE (SuperONE development team), MEET.ONE (MeetOne Development), TokenPocket, HaloWallet (EOS, imToken produced by gravity zone) (well-known Ethernet square wallet, now supports EOS, Wheat Ecological) purse, bit pie (old bitcoin wallet, now supports EOS, state) letter EOS wallet (Bixin PocketEOS (OracleChain), ONE (produced), OneChain (BitPortal, produced) through coins produced), wallet (Hufu Multi Chain Wallet, with Cobo Wallet (financial management functions), Multi Chain Wallet, support EOS), zebra wallet (Multi Chain money package, support EOS Starteos (Starteos), MoreTop (production team) IMEOS produced)

Tomato wallet (team founder Sogou input method the father of Ma Zhankai).

Web wallet (3) : Bloks (EOS CAFE), EOSX (EOS, starteos, Asia production team), EOSlynx (by Starteos)

(4) browser plug-in Wallet: Scatter plug-in

Open the wallet (5) : EOSPortal, EOSWallet, eos4j, more open “EOS” wallet purse.

An important factor in choosing the wallet for safety (cold wallet > Hot wallet), interactive experience (> cold hot wallet wallet), team, individual, in the choice of EOS wallet, readers may refer to the public digital wallet chain list, select the high credibility of the wallet.

EOS wallet developed recommended reading Chaindesk’s column “EOS wallet combat development”.

BFT-DPoS consensus mechanism

  • Consensus mechanism overview

Block chain is a chain structure with books, data storage, consensus mechanism to decide how to block, block chain network is used to deal, confirm the consensus protocol, but also reduce the cost of each distributed node trust agreement block chain, chain blocks currently in the world, including POW, POS, DPOS, PBFT, DAG mechanism. Recommended reading “consensus mechanism with eight block chain consensus mechanism”.

EOS in the first edition of the white paper is used in the DPoS consensus mechanism, the consensus mechanism by BM successful practice in bit shares, Steemit, in the latest edition of the white paper, which made some improvements, BFT-DPoS is now a consensus mechanism. To improve the content of recommended reading “white paper EOS V2 has modified the consensus mechanism which – (BFT-DPOS)”

DPoS (Delegated Proof of Stake), which authorized the rights that consensus mechanism. The mechanism of DPoS by giving EOS card holders the right to vote, choose the 21 “super node” (i.e., block producer block producer, referred to as BP) to serve as the role of accounting, to ensure the normal operation of the whole network. 21 super node in turn is responsible for bookkeeping, each block will produce, in order to pass on to the next super node, 2 super node to be responsible for the package of new blocks, and a block of confirmation on the content, when the super node in one block is more than 2/3 after the confirmation, the block will be confirm the irreversible block.

BFT (Byzantine Fault Tolerance), mean Byzantine fault tolerant algorithm, DPoS BFT algorithm and the consensus after verification is no longer in accordance with the order by a super node a verify block content, but make block nodes become the master node, a 20 node at the same time to rest after the broadcast, and get the node verification feedback. If there is more than 2/3 through the verification node, the blocks become irreversible block. BFT can make the EOS block to confirm velocity increased significantly.

The mechanism of BFT-DPOS due to the reduction of the entry node size, thus improving the efficiency, coupled with parallel chain, under ideal condition, EOS claims to be able to reach 1 million TPS. But go to the center of the fundamentalism in the block chain, DPOS mechanism and questioned by centralized node because of too little, this question still exists.

  • Super node

In EOS, there are 300 + candidate nodes, ore pool, currency exchange, encryption block chain consulting company and EOS team usually includes these fancier Party candidate node. They voted super node, an order will be in accordance with the block (the first alphabetical order) package, get the block production incentives; in addition, the EOS mentioned in the white paper, EOS year 5% to maintain additional tokens of nodes, the amount of EOS was 1 billion, 5% have 50 million tokens, with EOS token price. For BP, this is not a small income.

In the draft constitution of Thomas Cox EOS (the link to community governance) summary, article fourth: “any member shall not offer or accept any valuable items in any form, including super node candidates, the amendment or the worker proposal, will not unduly influence another person’s vote. “Buy a ticket, ticket bribes in EOS are not allowed in any case.

In addition to the 21 super node, and 49 nodes in the EOS ecosystem. These nodes are facing some problems is to replace or super node interference, to maintain the stability of the system.

In addition, another set of alternative use node as the balance of power. First, if a super node, other nodes can cancel the super node status evil vote, and the nodes will always monitor the super node behavior, if there is illegal behavior, the nodes will attract votes through democratic means, replace evil nodes, so as to realize the function of supervision.

The nodes of EOS ready to substitute the existing super node, they need to ensure that the same and super node hardware nodes without affecting the network caused by replacement of EOS.

EOS to ensure the enthusiasm of the nodes, each node is assigned to the 1% pass card rewards, only 0.25% is given to the super node, the remaining 0.75% will be in accordance with the number of votes received proportionate to the super node and all nodes.

Read more and more about the super node, recommended reading “how to become a super node EOS? “,” what is the EOS super node? Why does it need to compete? “” bear under the EOS node: we did not make any money back to the server, “” super node dilemma, community governance “,” awkward room EOS elephant “.

  • vote

Because the EOS DPOS consensus mechanism, each EOS money holders have the right to vote, as Chibidaigou, voting is a very important right, need every voting member treasure and properly exercise the right. At present, the referendum system of EOS super node campaign and opened in January 2019 (see the specific governance chapter) are required to vote.

Syed founder Cafe Calgary Canada node EOS wrote in an email on the Internet if you hold financial shares and want to protect it, then the best way to decide the future of the system is involved in the voting process.” The vote is not directly benefit, but in the super node in the campaign, when Chibidaigou selected super node is good enough to ensure reliable and stable operation of the EOS network; and in the referendum, the vote will be issued to the community voice in the EOS ecosystem specific issues, and even change the network settings and the EOS constitution, there is for EOS ecological prosperity in Changzhi, only when both of the above can be achieved, so with the development of EOS, cash in the hands of EOS will also rise, this is the indirect benefits of voting.

So how to vote? The development of EOS.IO software company has said that the command type tools they will only release a version of the EOSIO1.0, which requires users to grab a GitHub code in the library, to your local computer operation, some nodes have set the user friendly interface, to achieve a one-stop service in some of the nodes voting website block, browser, wallet, can exchange.

Another way is through proxy voting, the voting rights to the agent, so we vote instead of polling agents. Proxy for those who want to vote, but can not understand all nodes candidate users is very useful.

The voting rules by EOS users to hold up to 30 tickets each token to the election of the first 21 super node; the method of voting for the pledge of EOS for equal voting rights, pledge period, EOS will be locked, nor can not transfer the mortgage transaction, from the user to cancel the lock up period of 72 hours.

You can vote at any time, and change at any time. The vote is recorded once every 126 seconds, which is the completion of a block time required. Each round of a block, each super node will generate 12 blocks, each block generation time is 0.5 seconds. This means that the super node election every 2 minutes and 6 seconds of time. Each EOS token can vote for 30 different candidate nodes. The candidates each node of your investment will be that you have the votes.

But the 30 cast one vote rule so far has been questioned, will quickly make the head of super node joint vote, control the whole chain, and increase the possibility of producing bifloral. At present, the referendum proposal for a vote.

In order to ensure that users often update their vote set, introduced a long half-life of one year for voting weights. The half-life will begin in a week after the vote. If a user does not vote again in a week after the vote, the weight will decay. A year later, the votes will be reduced to 50% of the original weight. If the user re vote, vote weight will be fully restored.

  • Site index

1, block the browser (query search tool, you can query to the relevant information of the EOS, including TPS, the number of transactions, account number, price, EOS / resource supply, the new block, EOS / resource rich list, turnout, super node for live and so on, can also query the account information, and vote super node or a referendum, usually by establishing a large number of nodes).

To understand the definition and recommend several commonly used browser: (EOSFlare, (produced) by EOSPark (EOS), Cafe, EOS HK, (produced) by EOSAsia).

It also included several parameters including some special browser: (block information panel is more commonly used), (network information panel and the EOS panel with good price, ( EOSCanada products, trading block information with clear ( a visual browser, very interesting data), (a English website but, including some EOS news, EOS travel, education, video website), (finishing tool contains hundreds of EOS block chain to the center of the market capitalization and trading tokens), (EOS Canada products, including some of the blockchain Recruitment Information)

2, node

Produced by EOS Asia and IMEOS produced by the website containing hundreds of candidate node information.

If you want to preview all EOS nodes in the global map, can open, you can see the top 10, top 50 and top 100 and all nodes of global stagnation;

The EOS node vote has been changed, provides a node ranking change.

3, super node voting site

Super node voting results show site in addition to the above block browser, some including self-service channels of voting sites:,, fire currency pool, as well as noted above the light purse is also comes with voting portal.

You can find proxy voting channels in the, the “EOS Proxy tutorial visible medium Voting: Everything You Need To Know”.

In addition, some analysis of the vote for the results of the voting site, further data processing and result analysis. produced, showing the turnout, the vote, vote, vote on the chart analysis, regional analysis chart of voters, the degree of attenuation can also check the voting weights. produced large changes in statistics than 20W EOS account, account of the rankings, behind the voting node number, node account vote vote ratio data. produced, with visual characteristics. Based on the EOS proxy, account number, total number of agents provide a proxy voting list.

resource allocation

The core idea of EOS resource allocation in token system on behalf of the right to the use of resources. EOS users or DAPP developers need to buy token, and the mortgage system accounts for EOS, computing resources to obtain network bandwidth resources and the right to use CPU. In the EOS system, there are 3 kinds of resources are: network bandwidth resources (NET), CPU (CPU), computing resources running memory resources (RAM).

1. network bandwidth (NET)

When a user sends a transaction information, the transaction will block producers need to generate packing blocks, then the blocks through network synchronization to other producers, this process needs to consume network bandwidth resources.

2.CPU computing resources (CPU)

When a user initiates a call intelligence contract this action, according to the need of intelligent block producer contract contract address lookup code, then the code is loaded into memory for execution, the process requires a certain CPU stress. CPU through EOS mortgage free access, the more EOS mortgage, the ratio of CPU or more. But the proportion of the more does not mean more stress, because CPU is how much depends on the mortgage pledge EOS/ pool EOS the proportion of the total, that is to say, with the increasing number of mortgage pool EOS, the old user has originally CPU ratio will be shrunk.

But the negative effect of this mechanism is that negative feedback is easy to failure, CPU prices, mortgage amount of the whole network also followed up, and EOS becomes more expensive, forming a vicious spiral. And some DApp take up too much of the main CPU, causing the user resource, even unable to transfer. In this regard, in October 2018, EOS will be the main global parameter TARGET_BLOCK_CPU_USAGE_PCT increased from 10% to 20%. In the Kylin network test results, a conservative estimate, this change will increase at least 2 times the available CPU resources. In addition, in order to reduce the cost of resource use, BM released the EOS resources lease and rent allocation proposal, to get rid of EOS and irrational behavior of free mortgage mortgage, keeping only those that really need to use the CPU EOS mortgage behavior.

3. working memory resources (RAM)

Account information, intelligent contract EOS system in the execution of the current state information is stored in memory, the information storage requires long-term memory resources; the total amount of RAM by the super node decided to vote together, once confirmed, will not happen in a short period of time a large amplitude expansion; general DApp development, EOS the increasing need to create an account of RAM; the provisions of the contract fee of the sale of RAM EOS network system will charge 0.5%, RAM is not transferable and can only lease, and trading system.

In order to achieve the market allocation of RAM, the price of RAM using Bancor algorithm (here recommended reading “BANCOR” algorithm, to learn about the “Bancor agreement” Research Report), by the market supply and demand determine the price of RAM, the more people buy, the higher the price, to ensure the liquidity of RAM resources. But because of the scarcity of RAM, RAM in mid 2018 was skyrocketing, causing speculation.

For RAM prices increasingly popular, in July 11th, BM emotional exit EOS RAM telegraph group, and then put forward 3 proposals, 1, increase the supply of RAM (expansion), that node 64GB annual growth rate of RAM, if the price is still too high according to the community needs to be adjusted, reduce the use of each 2 the account memory rate is 3, will develop iOS wallet, users will create a free account. With the July 26th RAM expansion proposal to vote by RAM has been based on the current 64GB, each block increased by 1KB RAM, the RAM price regression stable.

In simple terms: CPU and NET obtained by mortgage EOS, belongs to renewable resources, transactions for computation and bandwidth; RAM need to purchase system, belongs to the fixed resources account for storing relevant data, including account name, authorization information, contract, contract and contract code ABI intelligence data.

4, REX

In order to reduce the EOSIO based block chain using NET and CPU resource cost “, March 2018, BM released the EOS resources lease and rent allocation proposal, IMEOS gives the Chinese translation, namely REX exchange (EOS Resource Exchange.) Mainly to solve the problem of asymmetric resources, (some investors have a large number of EOS idle, on the other hand, many developers are also facing the problem of lack of resources.)

In the exchange, REX token as a resource token. The lessor can be pledged to the EOS REX, for REX token (T-Rex), the ratio of 1:1, as a proof to lease back the principal after the cocoa and get the rent, but also get the right to dividends in proportion to REX; and the lessee to pay a certain amount of EOS as rent (the Bancor algorithm of leasing resources how many), to obtain the right to use of EOS resources 30 days expire renewal.

The premise is to buy REX tokens must be 21 BP (super node, can be understood as bitcoin miners in order to get the purchasing power to vote).

At present, the REX proposal is not yet available is still in testing and updating, EOSIO, GitHub can track the update code, fix bugs; the EOSAuthority website will also publish the test schedule and plan the next round.

  • Site index

EOS EOS: resource planner NewYork products, including CPU, CPU and RAM market leasing, RAM calculator, a relatively complete website.

1, CPU rental platform

CPUemergency: every 48 hours to have a chance to get a free CPU for 8 hours; in addition, some cooperation with DApp game player in the game can also be free rental.

Chintai: 7 days, 14 days, 21 days, 28 days of lease lease transactions CPU.

YOURtoken:EOS transfer emergency, provide a CPU value to maintain 10EOS 24 hours, other prices ranging from 1-99.

Bank of Staked:EOSLaoMao products, 1 provide free emergency plans and 6 plans to pay.

EOSBank: an open source platform for lease.

ZKS: similar to a REX model of resource exchange, buy the tokens can be leased.

2, RAM site

Tokenpocket: real time price quotation, single record, large ranking, transaction records.

Chaince: a center of trading platform, trading RAM.

RAMDEX:RAM trading site.

MarketstackD:RAM RAM rich list, the additional price calculator.

Community Governance

Governance is the consensus algorithm, need people to reach a consensus on the subjective issues, specific performance for the community to express their wishes by voting decisions; at the same time through the Convention amendment, to change the rules of governance.

In the community of EOS governance, governance of power in the hands of the holder of the Token hand, Token holders can be agents of their own rights to block the production (super node voting), thus generating block will have the appropriate permissions (freezing of accounts, update applications, defects of the bifurcation of the hard bottom protocol change etc.). When the delegation went out, authority is limited, supervision and inspection.

In the EOS system of governance, legislation, law enforcement and judicial three pillars.

  • legislation

The EOS / EOS constitution convention is based on the principle of community governance, here to express the form convention is more appropriate. In BM’s view, “the constitution is a peace treaty, as a community, we in the formulation of the basic rules, since it is a fundamental rule, must be clear. The best use of non violent ways of self governance, if we do not use self governance of non violent ways, then there will be people over us by way of violence.”

The present Convention by BM and the super nodes are drafted, at present, in accordance with the time line has three version: Thomas Cox led the drafting of the Convention on the V1 version / version; BM shortly before the proposed version of V2 (claim intent / legal code) in translation; and drafted by the EOS Amsterdam version of V3 / Chinese translation. Comparison between V1 and V2 in terms of convention can compare two existing versions of the EOS convention analysis reference He Delin “”.

Since the initial convention has not received sufficient consensus, appeared in 2019, the new system of legislation. In January 11th, a referendum related intelligence contract launched by EOS Canada in 3 days, obtained 16 BP (super node) of the vote. This means that, since then, EOS Chibidaigou the freedom to create views on EOS matters proposal, can also be used to express Yes or mortgage token No recommendations on the proposal, the vote of the EOS to EOS 15% of the total vote to take effect.

In many proposals initiated, REX, ECAF, EOS, uses a referendum and inflation is five BP the current proposal focused topic.

  • The judicial and law enforcement

In judicial practice, EOS also established a set based on the EOS Convention and authority based program. The arbitration as a main part in the administration of justice, is a kind of no court can solve disputes. The two sides dispute their position submitted to the professional arbitrator, the arbitrator by professional comprehensive review of disputes and make a reasonable solution.

ECAF is a service provider for the EOS the autonomy of arbitration institutions, including the following three parts:

1.: assignment of arbitrators to the case administrator; Arbitrator of recruitment, training, examination, replacement; contact the implementation of BP rulings; 2. arbitrator arbitration; Arbitration: 3. basis: EOS EOS constitution; dispute resolution rules (RDR); EOS arbitration handbook.

In the main line so far, EOS network design disputes and arbitration of common problem is: when the EOS account owner because suffered fraud / hacker attacks and other acts, leading to the secret key is stolen, and the assets recourse dispute.

When the ECAF arbitration results came out, EOS super node is the staff and law enforcement.

At present, ECAF and EOS super node arbitration power and law enforcement power implementation of the new system is not ideal, the referendum is also considering whether to overturn ECAF. Recommended reading “centralization or decentralization, 21 super node will execute EOS emergency measures to protect the order? “EOS,” the referendum, there is 5 big focus “.

  • Site index

The referendum website

EOSAuthority: a proposal Chinese version. Asia products, clear and detailed, and provide proposal for voting channels. CAFE products, and provide proposal for voting channels. produced, showing the proposal to proposal as the main body, and provide proposal for voting channels. products, provides a referendum procedure, voting website hyperlink.

EOSforum: sort by time line proposal.

Intelligent contract

  • EOS intelligent contract

Smart (Smart Contract) what is the contract? In simple terms, the contract is written in block intelligence on the chain code / program execution will be triggered automatically under certain conditions, for ordinary people can understand written for a transparent, even if people can not be tampered with the program. It allows us to do not need the third party case, implementation of traceability, irreversible and secure transaction.

EOSIO developer documentation such as EOS smart contract: “the real world contract, in simple terms, is a set of protocols, given its input behavior, it will produce the corresponding results. From the formal contract law (such as financial transactions) to a simple game of “rules” belong to the category of contract. The typical behavior can transfer (financial contracts) or mobile game player (the game contract). EOSIO intelligent software contracts registered in the block chain, and executed in the EOSIO node, which implements the “contract” semantics, and a storage request behavior contract in block chain, namely request books.”

Intelligent contract defined by EOS contains two elements: the procedures and the implementation of the contract on behalf of the contract behavior when. It not only supports the transfer contract, CPU, Bandwidth, RAM machine market, mortgage voting in its category.

Intelligent contract based on EOS WebAssembly (WASM) technology, because of the use of WebAssembly, EOS smart contracts currently only supports C/C++ language, simple intelligent contract from 3 files:.Hpp files,.Cpp files,.Abi files on the WebAssembly (WASM), recommended reading “why EOS intelligent contract selection Web (wasm) Assembly”.

At present, with intelligent contract security incidents frequent, intelligent security problem of imminent contracts. Chengdu chain security technology CEO Yang Xia said, found in the audit client contract: EOS token contracts are integer overflow problems such as part of the contract implementation is not rigorous. Including: integer overflow error; permission check is not rigorous; the API function does not regulate the use of conventional error code. (details visible “chain security vulnerability analysis technology,” EOS “series of smart contracts summarize some problems and suggestions”)

The current smart contract security audit platform is Certik, slow fog, Chengdu chain, KnownSec, Hacken, Zepplin.

  • Ricardo contract

According to Article 7 of the EOS constitution, all intelligent EOS block on the chain contract must have the Ricardo contract.

The contract proposed by Ian Grigg Ricardo in 2000, the first for the Ricardo payment system, the first is the application of bond trading system. It is a clear definition, can not be tampered with readable text, mainly used for trading clearly the intention of the parties.

A very simple example, intelligent contract is written “A to B a EOS, B returned to A a EOS”, the contract only ensured that A and B both sides also give complete action, but the return of the EOS false ones, the quality of the enemy, even if it is false, the contract can also be performed. When Li Jiatu contracts with smart contracts, if the return is not B EOS, which is not the code intention, contract cannot be performed. Of course, this example is very simple, but the truth will be more complicated.

In simple terms, intelligent contract essence is a code, is based on the blockchain, and will in the block chain to detect specific condition / event trigger, for ensure party executive commitment; and Ricardo contract can list all code intentions, output process to code a constraint. In the world, sometimes there are some understanding of concepts and clarify, to rely solely on Intelligent completion. At this time, Ricardo will give each a transfer contract definition of some of the more clear terms, to ensure that the transfer intention can give intelligent execution of a contract to bring more accuracy, realize the integration of human and machine to perform better.

In the EOS GitHub code library, provides an example about the Ricardo contract, the contract in intelligent hello.

A deeper understanding about Ricardo’s contract, Ricardo recommended “contract (The Ricardian Contract) in the English translation version of” Ricardo “, the control about what exactly the contract”.

  • Network and test network

EOS has two kinds of network – network and test network. Test network (Test net) and network (Main net) is a relative term, refers to the main network officially launched, can block the chain network independently, with real economic value of digital currency in circulation network. The test is a test version of the future of public network chain, similar to the main function is to try new ideas without destroying the main case, only as a test application.

The main EOS version has been updated, from 1.6.1 to EOSIO have dawn-v1.0.0 iteration. If you want to know the EOS updated version of history, can enter the GitHub Release and Tag pages, access to dozens of versions of the update files from the 2017 year and update the content.

The test network test network Jungle Testnet and jungle kylin test network CryptoKylin, recommended reading test network Guide to the use of EOS Debug.

  • Site index

EOSIO source code library: can track the latest code changes.

EOSIO Chinese document: developers guide and contract intelligent tools, EOS developers must read.

The platform provides an open source developer tools EOSIO Developer Portal:EOS official, including senior SDK documents, reference materials, basic and advanced data and guide tutorial

The developer resources (the original @Steve Floyd @EOS42 finishing Jing Kai): including the developer community, the developer documentation / tools, development tools, web browser, network testing, basic operation tools / plug-ins, different languages RPC package, complete website.

EOS block chain development guide: including the development of documentation, testing network environment configuration, Scatter interface development.

Slow fog Security Development Guide: to provide security standards and some known vulnerabilities for EOS intelligent smart contract contract developers.

EOS intelligent online contract editor: Mediterranean products, EOS Mainnet, to support the jungle test network and kylin test network, users are encouraged to submit issue on Github.

The official telegram developer group.

economic model

And most of the current public chain as the economic model of deflation, the total issued constant is different, the EOS token inflation issue mode, 5% of the total annual issuance.

The EOS token inflation model mainly has the following two reasons:

In the EOS system, the block of producers of motivation is not to charge a fee through the issuance of EOS, but every year for the excitation of super node tokens. Through the issuance of EOS tokens, for incentives to achieve the goal of user fee exemption.   

Due to the EOS system resource is allocated according to the holdings of EOS tokens, so the existing EOS tokens will not support commercial applications with more operation. So EOS needs to continue to respond to additional tokens, long-term development needs.

Ecological DApp

Since the EOS main line, EOS has gradually become a powerful rival etheric square, attracted a large number of DApp settled. Until now, EOS has settled in 300+dapp, currently, DApp types include guessing game (Gambling), (Games), to the center of the exchange (Exchanges), collection category (Collectibles) and high risk (High Risk), the market (Marketplaces) and other. (Others).

According to the report of in 2018, in the two quarter of 2018, EOS has become the transaction amount and transaction volume are the biggest public chain. Among them, 97% of the transaction from gambling, trading volume of 75% from betting game. Among them, the EOS node for the extended EOS DApp ecosystem, is playing a crucial role. They developed a variety of tools to facilitate the account settings, and lending resources. And the main node for many EOS DApps have investment or as a consultant to provide advice.

But with the prosperity of DAPP, EOS has gradually become a hacker’s paradise. According to the statistical data and the blockchain security service provider PeckShield, last 7 months to 12 months, EOS chain of DApp were 49 37 and DApp security incidents, resulting in project total loss of nearly 75 million EOS, according to the price of currency conversion occurs, the total loss of about 319 million.

Recommended reading “2018 11 square, EOS platform and DApp Ethernet data analysis report”, “after the Fomo3D EOS Pixel Master, why 9 days suction gold 80 million dollars? “,” study of the EOS system after 224 Dapp, the biggest winner is super node “.

  • Site index

1, DAPP website : dapps collection and update; data analysis (including daily living, the number of transactions, the total transaction data etc.) produced a EOS DApp tool, include ecological project information platform, information platform, EOS dropped wallet, exchanges and other sites. products, in addition to the 24h and the 7 day live, trading volume rankings, there are EOS new users, new contract visual image. produced a list of robots to remove interference, and very intimate marked price. focus on information collection and update the DApp. include DApp number. clear and detailed. a DApp app store

3, EOS dropped information gathering site produced, showing airdrop project and date in the list in the form of airdrop. information panel, visual effect is good. the need to install the Scatter software, can be a key for drop candy.

Bifurcation and side chain code

Under the DPOS system, a DPOS block chain will not experience bifurcation, because of the block producer is through cooperation rather than competition to block production. So there is no consensus for bifurcation resulting in bifurcation of the chain case. Even if there really is consensus bifurcation, will also automatically switch to the long chain.

The existence of EOS bifurcation and side chain code two forms. Recommended reading “EOS backbone and side chain, branched chain”.

1, the code (code forks) bifurcation

Code bifurcation means with the EOSIO code, create a new, independent block chain. May bring the advantage in this chain of new, go for some special needs to be optimized, of course, there are also some changes will not necessarily bring about improvement. Code forks, the project can have full control of the chain. Everything you wanted to recommended reading “know about EOS forks but were afraid to ask” / Chinese translation.

Now Worbli (financial services industry platform), EOS Force, Telos, Ono, Wax and other projects, can be regarded as belonging to the code type of fork.

2, side chain (sidechian)

The side chain is an independent block chain, is the backbone of auxiliary building. The side chain through bi-directional anchoring manner and backbone connection, means that the main and side chain token price is to maintain a fixed exchange rate. The side chain can increase the additional performance and characteristics, more to the backbone for example, used to run the DAPPs or horizontal expansion of the entire network. BM believes that communication is the key to efficient cross chain extension and evolution. When we learn how to expand, a token can easily from one generation to the next generation of chain transfer. The contemporary and future generations can run side by side chain chain at the same time. Recommended reading “side chain (Sidechain) white paper notes”, “main chain and side chain have what relation? “,” is currently developing the side chain technology include? “,” the study notes | Xiaoming read block mechanism “,” cross chain chain EOS side chain line on the first day, the cat taking on the choke behind the team and node “.

At present, Fibos and BOS belong to the side chain of EOS.

Other sites


A collection and update the EOS ecological project site, including block browser, community sites, games, tools, wallets, trading sites and other tools, in addition, each project contains the founding and development team information, the time line.


Focus project update


A list of EOS tools and projects


Block chain active matrix


EOS art website

DYdX short Ethernet square when the internal contract is how does it work?

Editor’s note: This article from the orange book (ID:chengpishu), author: orangefans, authorized reprint by Odaily daily planet.

In the traditional financial market, futures may be 100 times the size of the spot. Obviously, financial derivatives is a bigger market.

Now a lot of center exchange in addition to currency trading, futures trading began to provide a portion of the derivatives business to do.

Fire currency in November last year launched fire currency derivatives market, initially provide bitcoin matching service, coupled with the square behind the Ethernet and EOS, some time ago they released a news, say their derivatives trading volume has exceeded $20 billion, the amount of looks good; and OKEx in earlier on the launch of the derivatives service, behind but also engage in a “sustainable contract” they play, most of the users are also fried futures. Of course, this is the price once the warehouse explosion, we will call more fierce. After all, the risk of futures and leveraged more easily cleared overnight. There are private leek saying, “cherish life, away from the future”. But on the other hand, although it is bearish, but because can be short, many investors bet the bear market in a variety of coin will fall, so a lot of lending market rather than a bull market when performing better.

Said so much, want to express the view is that the encryption currency is now still belongs to a kind of very primary financial products, derivatives and futures are just beginning to access this. In this context, as a beginning in the exchange, is the center of the exchange, so some people want to follow the blockchain fundamentalism do go to the center of the exchange of financial derivatives, this big cake, there are some people who want to use smart contracts to the center of the version of the.

DYdX is a decentralized financial derivatives agreement. In this article we come to understand the specific dYdX is how to do, compared to the center of the financial derivatives, it is what the advantages and disadvantages.

Brief introduction of dYdX

The founder of dYdX is young, like 15 years before graduation, the computer school, after graduation worked at the Uber. He started learning intelligent contract just holding the attitude, he began to write the dYdX protocol, then written to get financing, but also very niubi.

Specifically, the dYdX protocol, which is used to contract some intelligent financial derivatives trading rules and rewrote it, to realize.

Technically, there are several key problems need to be solved:

The first problem is how to let users through the contract to go short or long. Based on dYdX protocol, developers can launch a specific futures token, such as a token called the etheric Fang short currency, users buy the currency can be short Ethernet square, because the short currency prices will always be inversely proportional to the square of price ethernet. DYdX hope that the follow-up for each ERC20 currency have launched the corresponding futures token;

Article two the key question is, is the need for a short to do more lending and trading, in the traditional financial model, which is provided by the financial institutions and the center of the exchange, but in the chain, these things by intelligent contract automatically, as a result, the contract will have the ability to purchase, but it is not may pick up the center of the exchanges of API, so go and do the transaction currency or coin on fire, dYdX, the function of this part is based on the 0x protocol to do, to provide the liquidity needed by smart contracts to the center of the exchange.

The dYdX protocol now continues to develop, this set based on the agreement they have launched a specific product called Expo, a derivatives market, the current Expo above is only a product called margin trading (i.e., margin trading if you like me is financial idiot, can pull to the bottom of the appendix “what is the margin trading”), with only two get money can buy, a man named sETH (short ETH), to short the etheric Fang; another is called lETH (long ETH), used to do the etheric fang.

It is worth mentioning that, now use this product experience has been very smooth, if your browser installed on metamask, directly open the Expo website, buy a short or long currency coins, enter the number of the specific amount, and then press the Enter key can be concluded.

 DYdX short Ethernet square when the internal contract is how does it work?

The leverage ratio, interest rate futures and expiration time are preset, you only need to enter the amount of the purchase can be. My etheric Fang address was too poor, marking a self-esteem protection.

The experience with the traditional financial derivatives are not the same experience.

There are two of the biggest difference:

The first difference is that the whole mechanism of margin trading, in fact have been abstracted, users of this is “zero sense”, which simplifies many involved in margin trading and the threshold step, because many things can help you finish the Expo automatically through the dYdX protocol, these things include:

  • Automatically find the underlying liquidity derivatives depend on cash assets from dYdX lending partners in.

  • Automatically find the liquidity from the transaction to the center of the exchange.

  • Responsible for the management of the automatic collateral.

  • Automatic casting new short or long currency coins, providing margin trading services for users.

The second difference is safe and transparent, because you are in the chain with intelligent contract transactions, not the money call center of the organization. The difference between this part of the difference with the exchange to the center and the center of the exchange almost.

So, dYdX is how to finish the margin trading? We understand the white paper by dYdX.

The principle of dYdX protocol

The dYdX protocol to provide ERC20 token based on margin trading through a main Ethernet Intelligent workshop contract.

  • The lender through the contract signature of a transaction, indicating what kind of token they are willing to lend, lend amount, how much, how much is the interest margin, then it can lend to others to do the margin trading. These loans can be synchronized to offer chain trading platform, order book in the above list.

  • A user wants to do margin trading, by sending dYdX to intelligent contract transaction, to accept the loan, which indicates their need to borrow the amount, specify a future these loans to token (owed token) sold another one with token (held token) to start buying. Margin trading.

  • According to the transaction, the contract will be transferred to the intelligent deposit contract from internal users, and then through to the center of the external exchange — such as the 0x — then these loans to owed token to specify the buying price to sell a held token, then the contract will always help us keep the deposit side to help us automatically sell owed token replaced held token, until the user again sent another deal to end the designated selling margin trading.

On the inside, with a total of two users, they were playing lenders and traders (traders can short sellers, can also be the Bulls), these two roles around the smart contract work together.

Three contracts

In the implementation, the dYdX protocol consists of three major smart contracts.

  • Margin contract: business logic for margin trading.

  • Proxy contract: responsible for transfer on behalf of the user to complete a variety of assets.

  • Vault contract: as a storage vault, help the user managed assets in margin trading.

The contract for more detailed information, interested friends can refer directly to the dYdX code on the github.

Next, we look at dYdX, a margin trading experience specific processes and details of what.

Offering Message

To carry out margin trading, we need people to borrow money.

The lenders want to put a token in his hand held out, you need to specify the lending rate and deposit, and then put the loan message to each place, can be chain platform, how to let the lender and borrower loans reached a consensus, it is the so-called “match” dYdX is smart, regardless of the contract, in other words, matching can be completed through the center of the traditional way.


Another part of the margin trading is buying. Can be like buying loans, by any way to finish the match, spread. This can be any buying price, the only requirement is to be selected by the traders, and the total value of buying or borrowing less than traders token value. Usually, the trader will choose the best price order.

DYdX allowed traders to use any standard to the center of the exchange. This is his contract by dYdX intelligence to the center of the external exchange, re packaged into another contract to complete the intelligent. This new intelligent contract called ExchangeWrapper, it will provide a standard interface to the margin trading.

Traders can specify the use of any ExchangeWrapper, does not require any license. This means that anyone can write, publish or use your own ExchangeWrapper. The official dYdX implemented the first package of 0x protocol ExchangeWrapper, so any 0x orders can be used for margin trading traders.

Position Opening

To open a trading margin, traders to Margin intelligent contract sending such a transaction, including the following information:

  • Accept what loan.

  • A buying, how to buy held token owed named token.

  • Buying ExchangeWrapper address.

  • How many hopes owed token, the number of loans.

  • Use owed token to pay deposit or use held token to pay.

  • Deposit amount

  • Traders.

When the Margin intelligent contract after receiving the message, will perform the following actions:

  • To confirm the effect of borrowing

  • The Margin contract will first call the Proxy contract to transfer from margin traders to new places (if the margin is held token, then transferred to the Vault agreement, if owed is token, then transferred to ExchangeWrapper, through to the center of the exchange traded.

  • Call the Proxy Margin contract contract, owed token from a lender to the ExchangeWrapper.

  • The Margin contract record borrowed token has been spent, and then saved as a mapping. This is the loan news to prevent hackers use signature before launching replay attacks.

  • The Margin contract called ExchangeWrapper, according to the description of the owed token buying, trading into the corresponding held token. In this transaction, the buyer is maker, ExchangeWrapper is taker. The transaction contract (if you are using 0x ExchangeWrapper, then the transaction contract is 0x) will confirm the transaction information, and then execute the transaction.

  • Call the Proxy Margin contract contract to sell ExchangeWrapper received held token transferred to the Vault contract. During the effective period of margin trading, Vault contract will make the held token has been locked in their contract.

  • The details of margin trading are stored in the contract by a public identifier mapping. The trader or the lender can through the public identification and the postion interaction.

All of this is the atomic transaction, that is to say, either successful, or completely does not occur.

Finally, the Vault contract will hold a certain amount of held token, if traders over the margin is held token, then, this amount is equal to the amount of the deposit and sell owed token earned held token amount; if traders pay deposit is owed token, then, the amount borrowed is equal to owed token and held together to sell to earn the deposit amount of token. Vault no contract in margin trading before the end will always lock the held token.


Traders can choose to end a part of the postion at any time. The end of the method is to send a Margin contract selling, selling the specified held token sold, how much? The number of sold more than or equal to the lender owed token owed (including interest). The selling price as long as you can specify any number of token, held (according to the end of the position scaling) enough to complete the payment. Traders usually tend to choose the lowest price order.

When the Margin contract closed when received position message, it performs the following actions:

  • The calculation of the current owe the lender owed token. Using the method of continuous compounding calculation.

  • If it is through the held token Margin contract pay, call ExchangeWrapper held token (the return number is calculated according to the amount owed owed token) by owed token; if it is repaid, then call the ExchangeWrapper to sell all the held token, to buy the corresponding owed token. After the transaction, the Vault contract will hold equal to the amount owed to owed token, and a certain amount of owed token or held token, the token is equal to the margin of profit (profit + traders can be negative).

  • Call the Proxy Margin contract contract, the amount owed owed token from ExchangeWrapper transferred to lenders.

  • The Margin contract is equal to the amount of profit margin + held token or owed token is sent to the traders.

  • Margin contract remove a postion from the storage, if the amount is zero, or the amount of positon according to the closing number of position size reduced accordingly.

Of course, not just traders, lenders can also terminate postion. The lender can send to Margin contract message, request the number of traders must make up the held token XX in the time before as a deposit, otherwise this will be the end of the postion margin trading. Traders either in a limited time before must pay the deposit, or must repay clean all owed token. If traders are two things not completed in time, so the contract all held token will return to the lender all balance.

The lender according to their own interests, in the owed token held token relative to the price rose to held in the token when the deposit has been almost impossible to buy the corresponding owed token, demanding an end to position. The lender may authorize the third party to help them to take care of the price information. The third party continued to observe the price trend, a danger we put an end to the position request. This article three through the center of the oracle to complete.

This also requires traders to online at any time, timely response when receiving the lender to shut down position, paid a deposit or loan repayment. Traders can authorize an external contract, make contracts for some operation on its own behalf, so don’t keep online. This contract can be accomplished by running a Holland auction contract, buy the corresponding owed token.


The above principle and process all clear, but may be difficult to understand. Never mind, we are into a practical example, run over the process, maybe you will understand.

Suppose now I want to bitcoin to short Ethernet (i.e., Fang: I think the next month, compared with the price of bitcoin Ethernet workshop will fall), then what should I do?

  • The first on the market for a eth loan, borrow eth. The ETH Margin contract from the borrower to transfer to ExchangeWrapper.

  • Then have to pay part of the deposit, such as 10%, held token, also is bitcoin, Margin calls the Proxy contract to contract bitcoin from your hand is transferred to the Vault contract.

  • Next, according to the contract Margin call ExchangeWrapper, you are buying that put the ETH into the corresponding sale of bitcoin.

  • Then, call the Proxy Margin contract contract to buy bitcoin ExchangeWrapper transferred to the Vault contract. During the effective period of margin trading, Vault contract will put these coins have been locked in their contract.

A month later, the relative price of bitcoin Ethernet Fang really fell into the dog, then you can quit, to send a message to the Margin contract to terminate the contract trading margin, will perform the following operations:

  • First calculate your current owe the lender how many Ethernet use square, the method of continuous compounding calculation.

  • Then, if the repayment bitcoin, Margin contract will go to call the ExchangeWrapper return some bitcoin (total value, equal to the number previously owed Ethernet plus advance that the square part of interest), and then the rest of the bitcoin is that you pay the deposit + profits;

  • If it is through the etheric Fang repay, is called ExchangeWrapper to sell a certain number of bitcoin, buy the corresponding Ethernet square, after the transaction, the Vault contract will hold equal to the amount of arrears of the etheric square, and a certain amount of ether or Fang bitcoin, the rest of these coins or etheric Fang equals to your security deposit + make a profit.

  • Of course, if a month later, the relative price of bitcoin Ethernet Fang did not fall but rise, then you can also profit is negative.

The total process is probably the way. Of course, there are two problems need to pay attention to:

  • If they see the etheric square but rising prices, he was afraid of you to pay the deposit will not complete mortgage losses, warehouse explosion, then he can recall their loans in advance, recovery you owe his aether square, or make you pay more bitcoin as a deposit, to ensure that no explosion.

  • If I think the next month, compared with the price of bitcoin Ethernet workshop will surge, I want to do more etheric Fang? The above owed token and held token exchange, can achieve this effect, namely: borrow bitcoin, BTC trading eth.

The future of dYdX

Go to the center of the digital currency derivatives market is a very interesting, but I’m not financial professional background, so I don’t know, compared to the dYdX to the center of the service center and financial derivatives, their advantages and disadvantages for users, specifically where? Now it seems, dYdX is not perfect, type is relatively simple, play is not exciting enough? If the financial industry friends have their own unique insights, please share in the comments.

However, I still have a feeling that the field of derivatives, development situation and the center of the exchange and to the center of the exchange, is actually about the same, the center of the exchanges currently occupy the mainstream, transaction depth and liquidity are better; and to the center of the exchange is relatively small, but it has more possibilities in the future. So it is derivatives.

The dYdX protocol is very simple, no center exchange and futures futures play so rich category, most real speculation in digital currency futures users, it is mainly at the center of the derivatives market in the play. Now I can think of the dYdX will be used to play margin trading, should not only understand finance, understand the computer and not to make a lot of money (because dYdX is too basic) people, but not too many people.

But the dYdX agreement if the future better development, it can be used as a bridge to connect many different financial services. In other words, the new play dYdX can produce a lot of never thought of intelligent contract, because this protocol is completely open source, anyone can contribute in the above, but also can create new gameplay above him through this agreement.

The center of the traditional exchange to provide a currency derivatives, often need to do the internal decision-making process, exchange the boss think fuckedup will launch the market, but in the dYdX above, as long as there are people who can write code on the line, add a XX currency coins, do more short currency, anyone can buy and sell.

This is the center of the exchanges with the center of the way to the currency and DEX freely on any currency. You don’t need to have the experience and history of Wall Street, you can create a new category of futures through smart contracts (such as opening a hole to the brain, dYdX derivatives and market forecast combination will play? ERC721 of non homogeneity of tokens can be used as a new futures market?) And this is a unthinkable thing before.

So, perhaps the future of everything “derivatives” — of course, inevitably, it may cause some problems, but also may increase the vitality of the financial market.

Attached: what is margin trading?

The so-called margin trading is margin trading. In this transaction, three for the rich to borrow an asset, borrow after transfers and immediately sold to Lee four. When the loan contract expires, three must be borrowed assets and then returned to the rich, of course, but also a part of the interest. Three, rich, Li Si, they belong to three kinds of roles in margin trading, each one takes what he needs money.

Look at these detailed examples.

There are 2 types of margin trading: short or long.

Short (short sells)

Zhang San think bitcoin next month will fall, so he can find the rich borrowed 1 coins, and then put these 1 coins by current price sold to Li Si. Wait until a month later, three agreed also need the rich 1 coins, plus a little interest.

If the bit currency really fell into the dog, then the three can be cheaper to buy 1 coins to the rich, so one by one also is the difference, Zhang San earned profits by betting.

Of course, if bitcoin for a month but rose, the three is finished, because he wants to buy 1 coins now than their original price, sell more, one by one also is the difference of their losses.

Long (Leveraged longs)

There is more short.

Li Si think bitcoin next month will rise, so he went to the rich money, borrowed 40 thousand dollars. Four Li borrow 40 thousand dollars money, immediately bought a bitcoin. After a month, Lee agreed to have four big money 40 thousand dollars, plus a little interest.

If bitcoin prices did rise, so Li four can be put in the hands of the bitcoin sold more than 40 thousand of the price, and also the 40 thousand block to the rich. One by one also is the difference, Li Si to do more profits.

Of course, if bitcoin a month after it fell, the Li will idiot, because his hands bitcoin is not worth 4 million dollars, but also to the rich, he needs a loss.

Particularly noteworthy point is that these transactions, Zhang San and Li Si were not full to the rich by assets, but by a margin multiplied by the magnification, and leverage to pry more money. For example, over 10%, 4000 dollars can move 40 thousand pieces of trade, such investment return is high, of course, the risk is relatively increased a lot, easy to ruin. Anyway, play more exciting. In order to avoid your deposit is insufficient to offset the losses caused by the rich to you, are now clearing margin, that is to say, if the market is not good, you may also need to pay more money, or rich has the right to withdraw his money.

  • Short can be used by Zhang San to hedge the risk of speculation, or do. Speculation everybody knows not to say, risk hedging is going on? For example, Zhang San think bitcoin next month will fall, he has a pile of coins, is afraid to bear the loss, he can bet bitcoin related assets to earn a little money, to reduce the possible loss, this is called hedge.

  • Li Si can also be used to do more speculation, it can generate more efficient use of funds, and because of the leverage, of course, are more likely to lose everything overnight, cleared.

  • As for the borrower, it is rich, he can make money by lending assets to certain interest, as profit.

Some further reading

  • What is the future? The futures market is how to operate? – Fu Jianzhao answer – know

  • DYdX white paper

  • Expo official website

From today, the block chain is no longer outside the law — Interpretation of “blockchain information service management regulations”

Editor’s note: This article from the Kyoto lawyers (WeChat ID:jingdulvshi), author: Ren Yu, Chen Yu, as Lin Lin, the daily planet Odaily authorized reprint.

Block chain technology as a new Internet application technology, while bringing the opportunities for development, and became a law to clear regulations due to lack of regulation”. In January 10, 2019, the national Internet Information Office issued the provisions of the “block chain service management information” (hereinafter referred to as the “Regulations”), implemented since February 15, 2019, the end of the block chain information service cannot according to the state, this article from the “Regulations” provisions of the introduction of the background, content and discuss three aspects of interpretation of the.

The introduction of the background

According to China’s Ministry of industry and information issued the “white paper Chinese block chain technology and application development (2016)” in the definition of the block chain is a distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and computer technology in the era of Internet innovation and application mode. Block chain technology provides a point-to-point direct interaction, with decentralization, openness and anonymity features, it is because of these characteristics, the development of block chain technology rapidly and quickly enter the market application.

However, with the rising value chain block, block chain under the guise of the name of financing for marketing, fraud and other speculation intensified currency of the real situation, not only disturbed the social economic order, infringes the legitimate rights and interests of the people, but also to the current legal and regulatory policy challenges.

8 month 2018 years 24 days, silver China Insurance Regulatory Commission, the central network information office, the Ministry of public security, the people’s Bank and Market Supervision Administration jointly issued “on the prevention of” virtual currency “and” block chain “in the name of risk Fund-raising Risk Warning”, pointed out that under the banner of “financial innovation” and “blockchain” banner, the characteristics of speculation block the concept of chain for illegal fund-raising fraud, pyramid schemes, illegal behavior, and prompted the public to guard against risk, but the special regulations for the block chain technology is still urgently needed.

2018 years 10 months 19 days, in order to further promote the network information security management, and promote the healthy development of the blockchain information service and strengthen the blockchain information service security risk prevention, the state Internet Information Office issued the provisions of the “block chain information service management (Draft)”, and through the Chinese government legal information network public release of information to the society public comments, feedback deadline is 11 months 2018 years 2 days.

In January 10, 2019, the “draft” released less than 3 months, the “provision” blockchain service management information is the official landing, over regulatory vacuum block chain in the field of information services, as the “Regulations”, “Regulations” for the purpose of regulating the blockchain information service activities, safeguarding national security and social public the interests of the protection of citizens, legal persons and other organizations of the legitimate rights and interests, and promote the healthy development of block chain technology and related services.

The provisions of interpretation

The “provision” a total of 24, mainly from the block chain information service supervision and supervision system and block chain information service provider responsibility and punishment measures to block the chain of information service provides the basis for supervision.

First, the scope of supervision

The “provision” of the scope of supervision in the territory of People’s Republic of China, block chain technology or system based on the Internet, applications, etc., to the public to provide information services. The “provision” regulation limits the scope provided by the block chain technology or system based on information service, but not all information services related to the blockchain, that is to say, to provide information services or by using the block chain block chain technology to provide other services both in the “Regulations” are not within the scope of supervision by the traditional Internet technology.

In addition, the “provision” is the definition of information service providers and users to block chain are clarified. It is worth noting that the blockchain information service providers include not only providing the block chain information services to the public subject or nodes, including main chain block information service to provide technical support to institutions or organizations, so the definition of fully taking into account the many encryption currency projects to take overseas release but with the current situation of domestic technology support.

Second, supervision system

The “provision” auxiliary three aspects construct block chain information service supervision system from the regulatory body, the way of supervision and regulation.

1. regulatory body

Supervision of the main system of Internet information office block chain information services (hereinafter referred to as net letter office), law enforcement supervision and management by the national network information office is responsible for the block chain information service, province, autonomous regions and municipalities directly under the supervision of law enforcement network information office responsible for the management of the blockchain information service in the administrative areas.

2. ways of supervision

Block chain information service regulation by filing system, rather than the audit system, the “Regulations” to the filing requirements are as follows:

First of all, put forward in time for the relevant filing requirements. Block chain information service providers shall provide services within 10 working days by name, the national network information office block chain information service record management system reporting service provider service category, service form, application server, address and other information, the record filing procedures; changes in services, etc. the platform. Next, change the date in the modification formalities within 5 working days; termination of service, service at the end of 30 working days before handling the cancellation procedures, and make proper arrangements. The national and provincial, autonomous regions and municipalities directly under the network information office receives the archival materials filing submitted after the complete materials, should be filed within twenty working days, issued a record number, and through the national network information office block chain information service record management system to the public record information; the material is not complete and not for the record, people notice filing within twenty working days, and explain the reasons. The provisions on the procedures for the record and time requirements are relatively clear, and a clear regulatory body for feedback on the time limit of the record, the blockchain information service providers timely filing procedures, accept supervision has positive significance.

Secondly, put forward the express request record number. Complete block chain information service providers shall record in a prominent position in the Internet, which provides service for the foreign applications marked its record number, this will undoubtedly be the subject of supervision and service for users to determine the service provider is filing and facilitate compliance operation.

Finally, put forward with the inspection requirements. National and provincial, autonomous regions and municipalities directly under the central network information office of the blockchain information service record information to regularly carry out inspection, block chain information service providers shall within the time specified in the log block chain information service record management system, to provide relevant information, regular inspection system to block chain information service providers in a timely manner in accordance with the “Regulations” requirements for the record, play a positive role to change.

3. auxiliary supervision

One of the highlights of the “Regulations”, is the clear network information office as the regulatory body, also proposed to self-discipline supervision as auxiliary. The blockchain clearly encourages industry organizations to strengthen self-discipline, establish and improve the system of industry self-regulation and industry standards, guide block chain information service providers to establish and improve the standard of service, promote the construction of credit evaluation system of industry chain, to block information service providers to provide services in accordance with the law, accept social supervision, improve the block chain information services personnel occupation accomplishment, to to promote the healthy and orderly development of the industry.

The duties and responsibilities of subject, block chain information service provider

The “provision” clearly defined the subject with more ink block chain information service providers should bear the obligations, including:

1. security obligations

First of all, should implement the information security management duties, establish and improve the user registration, information audit, emergency response, security management system; secondly, should bear the obligation of safety assessment, the development of a new product line, new applications, new features, in accordance with the relevant provisions shall be reported to the national and provincial, autonomous regions and municipalities directly under the central government Internet information the office of security evaluation; finally, the obligations of the service provider fails to bear the corresponding responsibility for rectification, block chain information services provided by the presence of information security risks, should carry out rectification, conform to relevant regulations for legal and administrative regulations and the relevant national standard specification for rear can continue to provide information services.

2. technical support obligation

Should adapt to the technical conditions have its service, the information contents prohibited by laws and administrative regulations, shall have issued, recording, storage, dissemination of the immediate and emergency response capabilities, technical scheme shall comply with the relevant national standards.

3. contracting obligation

We should develop and open platform management rules and convention service agreement signed with the blockchain information service users, clear the rights and obligations of both parties, requested its commitment to abide by the law and the Convention platform.

Compulsory 4. certification

In accordance with the “Regulations of People’s Republic of China network security law”, the true identity authentication information organization code, ID number or mobile phone number based on the way of block chain information service users. User does not carry out the true identity authentication information, not to provide related services.

5. supervision duty

Supervise to block chain information service user behavior, on the one hand, in violation of the provisions of laws and administrative regulations and service agreement block chain information service users, should be in accordance with the law to take warning, limited function, close the account and other measures, to take appropriate measures to deal with the illegal information and content, to prevent the spread of information, keep the relevant records, and report to the relevant authorities; on the other hand, shall record the block chain information service users to publish content and log information, records shall be kept for at least six months, and shall be provided according to the query in the relevant law enforcement departments at.

6. with the obligation

Shall cooperate with the letter network department shall conduct supervision and inspection, and provide necessary technical support and assistance, and shall accept social supervision, establish a convenient entrance complaint, timely processing of the public to report complaints.

In addition to the information service provider for the blockchain main obligations, the “provision” of the blockchain information service providers and users are put forward using the block chain information service shall not endanger national security and disrupt social order, infringe the legitimate rights and interests of such laws and administrative regulations prohibited activities, no information content production, use block chain information copying, publishing and dissemination services prohibited by laws and administrative regulations, and clear in the “Regulations” before the release of the information service in the blockchain, since the “Regulations” should be the effective date of the second 10 working days through the relevant formalities.

Four, penalties

The “provision” nineteenth to 22 clear block chain information service providers and users in violation of the “Regulations” requirements, network information office as the direct supervision departments will take punitive measures, including warning, ordered to make corrections, to suspend the relevant business, such as fines, involving a crime, it shall be investigated for criminal responsibility.

Some discussion on

Block chain as a technology itself is neutral, but in the application of technology is not yet mature stage, the use of legal vacuum, using this technology to infringe the public interests or the lawful rights and interests of others, is bound to laws and regulations to regulate, this is also the purpose of the introduction of the “regulations”. However, laws and regulations always has a certain lag, with the continuous emergence and block chain market application block chain technology gradually clear, the corresponding regulations will be perfect.

“Regulations” in the meaning of milepost type block chain market supervision in the field since Needless to say, but after reading, it is not difficult to find, “Some Provisions” bias in the provisions in principle, and some requirements in the current implementation conditions are not ripe, operability is worth discussing, I think the following points to explore and improve the:

The concept of 1. block chain information service providers are not fully clear

According to the “Regulations”, the blockchain information service provider includes providing the block chain information service to the public or node, but here the “node” is how to define but did not specify. Starting from the blockchain technical point of view, each of the distributed books can be called “nodes”, but the level of “nodes” does not have the legal liability of the subject qualification, apparently with the “Regulations” requirements of information service providers shall bear legal liability is inconsistent, so the exact definition of a “node” needs to be clear.

Technical standard of 2. block chain information service provider is not clear

The “provision” technical requirements of the blockchain information service providers and service to have the technical scheme shall comply with the relevant national standards, but what is “suitable technical conditions”, “national standard” are the lack of a clear point.

The safety assessment process 3. block chain information service provider is not explained

The “provision” requirement blockchain information service providers to develop on-line new products, new applications, new features, should carry out safety assessment in accordance with the relevant provisions of national and provincial, autonomous regions and municipalities directly under the central government Internet Information Office, but for the specific procedures and safety assessment standards is the lack of specific operational basis.

The 4. conditions are not ripe for industry self-regulation

Block chain information service is a highly specialized field, industry associations directly from the industry to the current situation and trend of composition more detailed, accurate and timely understanding of the industry, which will undoubtedly provide more help and reference for the supervision, which is the “Regulations” put forward by the self-discipline supervision as auxiliary. However, although some institutions or places have set up a block chain industry associations, industry alliances, such as ICT Academy of the Ministry’s “credible block chain promotion plan”, the Ministry’s China software industry association established the blockchain branch, but there is no such as Chinese Internet Finance Association generally have sufficient influence the block chain industry organization, and the role of industry self-regulation in the present stage is also difficult to really play.


Block chain technology is by no means “outside the law”, “Regulations” landing implement block chain regulations from scratch breakthrough, although the “Regulations” only in this field block chain information service, and still need to be perfected with the test of practice, but it is enough to make the block chain technology to run in development under the sun, and only the healthy and orderly compliance blockchain technology, will really play a tremendous role in promoting social reform, bring more opportunities for the development of the times.

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Author: Chen Yu, senior partner at Kyoto, the integrated use of civil and criminal cases in the past processing experience, resources, and financial and capital markets, TMT, intellectual property and other areas of legal services for a lot of practical experience, the corporate governance structure design and standardized operation, for the public relations management and enterprise crisis management to prevent, avoid, enterprise, shareholders and executives of the company undertake business process of enterprises, civil compensation, criminal charges and other risks.

As Yu Ren, partner of Kyoto law firm attorney since the industry will be integrated positioning itself in litigation and non litigation business balanced development of lawyers, to undertake and participate in a large number of civil and commercial litigation, arbitration and criminal defense cases, while providing daily legal consultant for many companies, including financial industry, investment, Studio Entertainment Internet, media and other industries, have the ability to provide comprehensive legal services.

Lin Lin, Kyoto lawyer, graduated from Renmin University of China. Since the industry, providing IPO and listing, the National SME share transfer system for major asset restructuring and other capital market legal services for enterprises, at the same time will be good at litigation and non litigation experience combined, for the enterprise to draft and review daily business and financing contract, and for the enterprises to standardize operations to provide risk control at the same time, in the field of civil and commercial litigation also have rich practical experience.

MIXMARVEL completed the tens of millions of dollars in financing, the main chain block game

The daily planet Odaily exclusively learned that recently completed MIXMARVEL round of financing the project foundation settlement, build ecological star investment team, including Mix Labs, VLane Capital, OGC, Axonomy, imToken, Ventures, Ultrain, Genesis Group, The Blockchainer and HashKey Capital, the total financing amounted to tens of millions of dollars. The daily planet Odaily learned that MIXMARVEL imToken Ventures is the first in the field of investment.

It is worth mentioning that the MixMarvel team to build the cloud dragon HyperDragons chain tour hit a good flow of data, was invited to participate in the Coindesk 2018 ten block chain of the most influential figures in festival. The first half of 2019, the MixMarvel team will also carry several representative block chain game, and with the release platform in the world.

 MIXMARVEL completed the tens of millions of dollars in financing, the main chain block game

(source: Coindesk 10 Most Influential in Blockchain)

About this round of financing plan, MixMarvel CEO Jade Zhang said: “MixMarvel is committed to creating a block based on chain game platform and the contents of the community, through a value network will be the content creators, game player and game content together, let everyone create games as possible, each person can accumulate in the feedback value in the course of play.

According to reports, from the beginning of February, MixMarvel will take to develop products in Southeast Asia, Japan and South Korea, North America and Europe etc.. At the same time, MixMarvel will launch a variety of representative chain swim in the platform launched, including the mainstream game player into the chain around the world light sports games and services based on MixMarvel rapid transformation of the big game etc..

Any DAPP class block chain can not escape the traffic rules of the game. At present, Internet traffic is BAT and TMD to control, while the game is going to do is to block the chain through the game and assets linked to the way to grab traffic.

Wang Fan is the The Blockchainer incubator is a responsible person, he said: “now a lot of block chain to start the game before we return to the traditional, is optimistic about the MixMarvel to do a very good tour flow chain.”

This is MIXMARVEL to continuously gains financing reasons in the winter.

Due to the strategic prospective, product platform of high completion and passes the thorough design of architecture, is an important factor in talent shows itself in the bear market in the MIXMARVEL project, the project is not only widely recognized by the ecological investors, also won the high support of ecological partners.

Author Wu Yan, focus on mining, block chain report, communication with WeChat BIG-BYE, please note the positions and reasons of labor.

The storage node + “elastic computing”, MultiVAC completed $15 million financing

The | gourmets and Lu Xiaoming

| editor Lu Xiaoming

At present, slicing technology (Sharding) is an important direction of public chain expansion program, is considered to be more feasible and long-term expansion theory. Expansion, usually refers to the ability to process high frequency traffic system. The expansion plan is mainly to solve the problem through the performance upgrade block chain system, in order to achieve large-scale application of block chain technology.

This paper introduces the daily planet Odaily MultiVAC is also a public use chain project slicing expansion. They also proposed a concept different from cloud computing “elastic computing network”, which is the chain of DApp developers can according to their business needs based on the selection of scalability, security, to the center of the demand in different dimensions, the underlying network will contract transaction allocation to different points slice. Developers also need to deploy according to their business contract.

The core idea of slicing is “divide and rule”, give an inappropriate example, slice like scheme in the high-speed toll station opened on a plurality of congestion charging channels to ensure the traffic speed, reducing road traffic pressure. Slice technology still faces many problems, including: each slice of data stored in too many nodes switch is required for a large amount of data synchronization; patch means nodes involved in a transaction verification and consensus reduction, easy for malicious attackers control; inter slice transaction problems.

Therefore, we can not let the industry landing slice scheme satisfied. Then, slicing MultiVAC have what characteristics?

MultiVAC features list

Node role: to reduce the storage cost

MultiVAC first, introduce storage nodes, reduce the storage cost of miner nodes.

The need to split the block chain, the premise is the trading volume to the single system is difficult to carry, at the same time as the amount of data surge, ordinary notebook computer is not enough to store the whole network books.

In order to reduce the storage of data, ensure to the center, MultiVAC introduced the storage characters of nodes, the nodes are divided into storage node, node and node three miners light, do not need to have the whole network books.

In the first piece of miner nodes elected block node, verify and package (the need to block out the storage node called Merkle Proof to demonstrate the pen input is not used), broadcast slice, and then sent to the storage node synchronization.

The miners node function is to store the information (Qu Kuaitou), and is responsible for verifying the transaction, with control data. The storage node is stored in all the books in it, somewhat similar to the super node role, large storage capacity, there is a certain threshold, but the difference is only store transactions and assist in transaction verification, without any control of the data, which go to the center of the characteristics. MultiVAC CTO Cheung said the storage node can be understood as the network node based service providers, similar to the network provider (mobile, Unicom, telecom) role.

Is the key points of the design, proof of abstract information + + transaction storage node node can be directly used miners transaction to provide, to verify the transaction. Only store transaction summary information, reduce the amount of data miner nodes, but also reduces the miners access threshold, ordinary PC can be added.

MultiVAC believes that reducing amount of data storage is more favorable slice of nodes in random transform.

Safety and to the center line. The existence of patch degradation of safety, safety requires thorough to the center. The design of MultiVAC miner nodes and storage nodes also play a role here.

Assuming a slice 100 nodes, to attack the slice, just know what is the 100 nodes, a big security risk. Therefore, most of the programs are piecewise piecewise nodes need regular transformation. MultiVAC vice versa, every few minutes, the patch will switch the miners.

Several MultiVAC each storage node corresponding to the chip is fixed, but the miners node is not fixed, by means of VRF transform, and storage nodes have no control over data. The miner nodes store only summary information, the total data size is very small, so do not have to worry about the migration of miners. Otherwise, the miners in the transform piece or need to keep large books data, or need to have the whole network books. Should Cheung believes that this is caused by the switching period is long (most scheme means less security), and only a part of the switching node.

Xiang should summarize, miners and storage nodes need to business, is directly proportional to the volume of slice, has nothing to do with the whole network data, and each piece is completely independent.

Fixed transmission quantity, guarantee the separate cross piece transaction

Slice technology have to face the problem is to realize the cross piece transaction, if there is no cross piece trading, not due to the interaction of each slice, there is no difference between single and.

The idea that the block in the chain of transactions are atomic, must ensure the operation involved to reach a final agreement, which is either completed or not, a start. Therefore, to coordinate inter chip operation, to ensure the correct operation. According to “Wang Jiaping: the so-called” public chain slice “technique five lies” article: “at present, the method used is the concept of thread synchronization, lock exchange involving state, to prevent other non related transactions interfere with the state, until the completion of all transactions after the release of the operation. But the problem is that the processing method, locked state, the other part of the execution slice is blocked, other pieces of work can not be normal, but the situation with the increasing number of fragments, inter slice number of transactions increased, the more obvious obstruction.”

Should the transaction MultiVAC Xiang said, cross piece with different ideas. To ensure that every piece of independent.

Every piece of MultiVAC, regularly sync other slice area size, each block a piece inside, there is a space in the new state records other slices, and then cross piece transaction processing.

Slice 1 initiated transactions at a time after the deal was confirmed in the block height H1; (at this time slice 2 height H2), and the deal reflected in patch 2, is needed in the slice of a 2 height (usually the next block, such as h2+1) to read from division 1 H1 high degree, will put the money up piece 2. Here is a bit like, A bank account in exchange for a sum of money to the B account, A display has been deducted, but B is not immediately received during the inter slice network congestion may occur in trading delays, but does not affect other transactions in normal. MultiVAC uses the eventual consistency to ensure the patch 2 will in order to get all the pieces from 1.

The advantage is that you can put the cross piece transaction costs are fixed, does not increase with the cross piece transactions increase, and increase the cost of storage is very small. “If a man a piece the size of the area is about 100 bytes (byte), if it is 64 pieces, is probably 6KB.”

As for the disadvantages, should respond to “Xiang, if looking for a malpractice, should be a cross piece trading after the receiver receives the money, and not immediately turn out, need to wait for a synchronization (about 10s). For example, A to B a piece of money, immediately transferred to B C, the two transactions in BTC and ETH can be simultaneously in one block, MultiVAC needs a synchronization. But this immediately pay demand is very rare.”

The economic application of landing attention sharing

The daily planet Odaily doubt that the MultiVAC scheme reduces the storage cost, but the increase in the number of transmission costs, will affect the floor plan? In this regard, should Xiang responded: “yes, 70% increase the amount of data to be transferred, but like Java 10 times slower than C++, but many people use Java, because of the development of low cost a lot. Here is the same reason.”

He further explained the logic: the storage node to provide evidence that the miner nodes can not only in books, has a concise summary information, it verifies the transaction and block the legality. This is the price, more of a part of the data transmission (information). The 70% is not the amount of data compression, in fact we compressed is probably equivalent to 20-25% so that the future can be compressed to a smaller.

But on the other hand, the traditional block chain each transaction broadcast time, once the business volume increased, the single node will be overwhelmed. On the one hand, the fragmentation mechanism allows a transaction only need to broadcast in the film. On the other hand, for the on-chip data, MultiVAC is not confirmed the transaction to the storage node, the storage node can broadcast a number of trading time, the miners into their own memory pool. So the number of transactions greatly broadcast less, but the amount of data broadcast 20-25%, on the whole network load drag is not serious.

MultiVAC has completed the underlying trading scheme, the single slice TPS was about 500; the contract patch is still in development, the application of the floor is expected in the second half of 2019, more concerned about the economic aspects of the application sharing.

From the view of future, slicing technology is still facing many problems. At present, the mainstream technology of slice divided into network slice, slice and slice transaction state three levels, the technical difficulty is also increasing. In the concrete floor there are still many problems to be solved, such as consensus, PoS, network delay.

The consensus mechanism, should Cheung believes that there is not currently a perfect consensus mechanism, MultiVAC is used in two yuan + Byzantine group signature.

As for the incentive mechanism, MultiVAC said that the miners node is mainly mining revenue, incentive mechanism of storage node considering competition (tender nature) mechanism, ideally there will be a balance, similar to the Ethernet gas workshop fee.

The team is currently about 25 people, including 17 technical and 7 operations. The MultiVAC technical team from Harvard, Dr. Standford, Tsinghua computer and Nanyang Polytechnic, and senior engineering experts, Google Facebook and beauty group reviews. CEO Lv Heng, former U.S. chief technology officer and paid people pay co-founder, CTO CTO; Xiang is associate professor of Tianjin University, Nanyang Technology University, doctor of computer parallel algorithm and general computing domain experts. CMO Wang Chen, former U.S. group product manager, paid people pay market operation director, Curie house (formerly McCain home network co-founder).

According to reports, the team in mid 2018, 15 million dollars of financing. Official website shows, investment institutions from South Korea, the United States and Europe, including IDG, Hong Thai capital, venture capital and other investment institutions and nine NGC, JRR Crypto, Hashed Arrington, XRP and other digital asset investment fund.

I am Odaily reporter for the daily planet of prosperity (micro signal wsuixin12), editor Lu Xiaoming (lohiuming), plus friends please note Name, unit, position and reason.

Canada’s largest bitcoin exchange StellarX acquisition

Today, we are pleased to announce Canada’s largest currency exchange Coinsquare acquired StellarX password.

From here, StellarX will continue to advance our roadmap announced last fall down, by a Coinsquare composed of developers and designers of the special team leader, they will develop StellarX as we know the product. StellarX will continue to operate and develop their own brand.

The acquisition of the reasons

StellarX has amazing potential. According to the U.S. dollar trading volume calculation, we have become the world’s top 3 distributed market launched in just a few weeks after. Now, even in a market downturn, StellarX account holders also hold tens of millions of dollars worth of. After the market promotion and sustainable development, StellarX’s future is very bright.

In order to achieve its potential, StellarX needs a new home with regulatory experience, and focus on building a comprehensive plan for the application.

Coinsquare is the most appropriate. They are Canada’s leading encryption currency platform. They have a very close relationship with the United States, European and Canadian regulators. The Bank of Montreal is their banking partners. They have a lot of experience, they bought a few months ago star wallet BlockEQ. In addition, the co-founder of BlockEQ Megha Bambra (he will lead the StellarX now) there, they have a very capable entrepreneur, he and StellarX of the entire star ecosystem development excited.

Next step

StellarX has been out of the end of the transaction will inevitably fall into the predicament. After a transition period, Megha and her team will continue to develop.

They are a particularly powerful mobile application team, we look forward to the upcoming StellarX mobile app great.

In time, they will also add a lot of not implemented in the system before StellarX functions under the new legal tender tokens and securities.

Almost all of the StellarX team will move to SDF. There, they will develop new products on Stellar, and improve Stellar development experience. SDF will work with Coinsquare, StellarX will continue to ensure that all of the network on the interests of any particular stakeholder.

We believe that StellarX is the entire network infrastructure, we are very pleased to see the Stellar, Coinsquare and StellarX in 2019 years and after grow up together.


Bitcoin value rose sharply, a sudden increase in billions of dollars in money market encryption

Since bitcoin, Ethernet coins and Wright currency prices suddenly soared, encryption currency market and drastic change of fate. Litecoin is often described as the gold coins, it gained the greatest benefits, the value rose by more than 30% in just a few hours.

Encryption is the most important currency prices in 2019, and in a few months after the market stagnation. In the accident before reversal, bitcoin has close to seven week low in the past 24 hours, it earned more than $200, just 30 minutes for a $100 increase.

Positive market movements will make the encryption currency investors feel relieved, since the end of 2017, bitcoin soared to nearly $20000, they witnessed the steady decline in prices. An encryption currency experts spoke to the independents before the recent surge in the price of the market, the negative emotional regret, but that a spark might again to the positive development.

Mayfair encryption of money brokerage company director David Thomas said: “we have become accustomed to the currency encryption standard is relatively flat, and in most cases are still cautious and negative emotions”

Some analysts even speculated that bitcoin may return to a high level since 2017, if the previous market model is used as a forecasting tool, a main wave may be as high as $65000. The latest news is that bitcoin hash value, the network power consumption to handle transactions and generate encrypted new monetary unit is the highest level since November 2018.

This can be the following price index, although there are many factors that determine the value of the currency of encryption. A rising rate will also lead to bitcoin environmental impact concerns, to estimate the power consumption will be over in ireland. Other analysts warned that due to the collapse of the currency traders try to give up encryption, therefore fell below $3000 will mean bitcoin “blood bath”.

The coin ring year Drama: bitcoin discourse right of the three party dispute

Editor’s note: This article from the block BlockBeats 0x28 0x29 rhythm, author, authorized reprint by Odaily daily planet.

The interests of the face, who can play Nakamoto So.

In February 9th, Dr Craig S. Wright (hereinafter referred to as the Macao cong “I am from card) second articles Nakamoto” release, will Nakamoto So has attributed the past for the existence of “anonymous, because the court charged in forensics, other roles and government departments are not allowed to disclose the identity of. “

Prior to this, he discloses a called “Australia this card is publicly for the first time since Satoshi Nakamoto” debuted (Declaration “Australia and the Cong first posting a witness:” I was in the “cong”), and later in the social platform drying out their own is in the cong “evidence”. But things did not go according to his vision, he had claimed Nakamoto So according to the times, bad mouthing bitcoin behavior, his debut self received the most people dislike.

 The coin ring year Drama: bitcoin discourse right of the three party dispute

The circle of a joint wave of the same target. There are obvious signs of fraud in the industry he gives evidence flayer, Wikileaks has become the mainstay of the Australian forces in Cong fake.

As the encryption digital currency only evergreen, bitcoin maintained since the absolute dominance of the market value of the first, the most important reason is that its founder had never appeared in public view, and the bitcoin advocate to the center of freedom but also the achievements of the community agree without prior without previous consultation, consensus, mysterious image of the Cong protection, maintain a bit go to the center of the nature of currency.

Of course, behind the formation of consensus, not surprisingly, involved with various interests, the contributions to do this fraud scam Macao Cong, whether it is claimed to be Nakamoto BCH Amaury e Chet S core developers, or the issuance of bitcoin is mistakenly called bitcoin core developers, foreign money core the user Matt Luongo, at the same time the dispute of the self interests of defenders.

Therefore, the social public opinion based on the platform of speech slobber war, is essentially 3 bitcoin stakeholders, to start bitcoin control.

Bitcoin Core camp

On the lightning network

In today’s situation, the BCH bifurcation of a war, Wu Jihan led BCHABC to become the successor of BCH, the Macao Cong leading BCHSV for the evolution of currency BSV bifurcation. Bitcoin core did not sound as if for a long time. Block rhythm BlockBeats understands that the application of bitcoin core will concentrate on all promote lightning network.

At the beginning of February, lightning network wallet began to appear on a large scale based on. According to the insiders claimed, lightning network wallet has been abroad to get together on-line based on the track to join more than a dozen companies to participate in the competition. And, in the fierce competition, the product has been from the original “ugly and difficult to use the wallet” update to the second stage has a good user experience and beautiful user interface wallet.

The recent twitter fire #LNTrustChain also made a wave of potential network lightning.

A man named hodlonaut V wanted to test a large push bitcoin community in the end there is no trust, so an idea, says it will put 100 thousand ($3.5) in his tweets sent the following reply of the stranger through lightning network.

This hair get out of hand, the community activities made the torch relay, the torch will each with a little clever, passed to the next, when the Twitter CEO Jack to Dorsey, lit by the whole community enthusiasm. The network also completely fire lightning.

 The coin ring year Drama: bitcoin discourse right of the three party dispute

Even the nation’s second largest pizza chain Domino’s Pizza began to accept the lightning network, Domino’s announced in February 14th, the use of flash online payment will be 5% off, fee to 1 cents, 30 minutes to send home pizza.

 The coin ring year Drama: bitcoin discourse right of the three party dispute

For users, lightning network wallet is the biggest advantage compared to Alipay’s second arrival rate, this great stimulative effect on improving daily use. At present there has been the type of wallet wallet, purse, a node hardware, terminal sales control of their own funds (POS), and the lightning similar web browser browser plug-in plug-in MetaMask Ethernet workshop.

At present not yet on-line products, so it is the industry that lightning network wallet will be in this year’s outbreak. To solve the block chain products landing difficult problems, the development of lightning network wallet will reach a certain height. The ecological basis of fledgling lightning network and DApp can compete, but also the key to bitcoin core to regain the right to speak.

Bitcoin to issue?

The bitcoin battle for the right to speak in the open, public perception, also by consistently high-profile Satoshi Australia initiated, but that is not the case, it looks more like the other two to be sent.

Last week, Satoshi s Roundtable (Nakamoto Roundtable), there is a proposal to increase the total amount of the issue of bitcoin, stop mining block reward every four years by half, to ensure that the miners have enough economic incentive, but also to ensure safety and continuation of bitcoin chain. The speech is published on twitter Matt Luongo.

The industry caused more opposition, related practitioners have questioned, block chain security team PeckShield also claimed bitcoin increased little possibility of total issued. But the users on twitter said “I am that one day may have to raise bitcoin supply ceiling of the people. The long-term prospects of bitcoin in the market of the two can be predicted, combat can’t predict the future bitcoin transaction demand will increase or decrease, but do not know what is the value of bitcoin at that time, what is the frequency of transactions.

By Matt Luongo, think bitcoin may eventually be clearing chain — only supports large transactions, and all small bitcoin transactions will be transferred to the two level market. Because the sales team cannot control tokens on the price of the market, not all credible commitment.

In a debate at the same time, Matt Luongo’s speech was hit in the domestic “bitcoin Core the next goal is to modify the issuance of bitcoin, 21 million limit, stop half the label wanton dissemination. Matt and Luongo’s Twitter account is introduced, indicating their identity, “Founder @thesis_co, where we build @keep_project and @fold_app”.

 The coin ring year Drama: bitcoin discourse right of the three party dispute

Most of the industry and a closer look at the voice of the opponents of the answer means nothing more than the issuance of consensus rupture. The long term by Nakamoto and maintain the balance of the mysterious, once broken, bitcoin compared to other mysterious aura of encrypted digital currency will also lose.

In addition to the industry, January 12th, PeckShield Silicon Valley R & D Center for Jeff Liu bitcoin issuance expressed opposition. It believes that bitcoin total issuance of 2100 million cap is a fundamental characteristic, very little possibility of community consensus to change this feature.

Jeff believes that the development of lightning network will expand the total users of bitcoin, does not make bitcoin transactions to reduce the amount of chain. Ensure the miners benefits as well as other measures, such as increasing the bitcoin block length to increase trading capacity.

The error was dubbed bitcoin core developers core, Matt Luongo has also drying out the media screenshot, hope China bitcoin community who can correct the related errors. This is not the wrong person ridiculous error seems to be formed, but the spread of power that bitcoin core for a bitcoin control never absent.

BCH ABC camp

The new out of the Cong

Since the Jihan and Macao Wu Cong backlash, bitcoin believers from 2 original school formally split into 3 pie – BCHABC bitcoin wallet, led by Wu Jihan core, the leading BSV and Australia Cong.

As Australia the Cong Wu Jihan and Macao ally, had the hearing in the United Front, they are against bitcoin core lightning network. Although the reason for the opposite: Wu Jihan School of thought will lead to bitcoin network lightning to the center of the Macao, a hearing that lightning network will make bitcoin out of regulation.

It is not difficult to see, Jihan and Macao in the Wu Cong values in opposition to the absolute. It is not difficult to understand since the two part company each going his own way.

The old rival BCH, the Macao Cong will have even Its loopholes appeared one after another. followers, the position of public opinion once lost is difficult to recover. Then, BCH Amaury S Chet core developers publicly claimed to be Nakamoto, and gives a digital signature, which can prove their identity claims.

 The coin ring year Drama: bitcoin discourse right of the three party dispute

A man named Mark Ludenburg said this is a ECDSA signature, he attached a piece of code with Amaury given signature and the hash value, and verify the signature and the creation of block is consistent with the public key.

Block rhythm BlockBeats ran out this code, the result is True.

 Bitcoin: bitcoin circle year drama discourse tripartite dispute

But in fact this is not fully explain what Amaury said is true, bitcoin core developer Gregory Maxwell said at StackExchange, the signature can be forged, anyone can fake satoshi.

The chief competitor Macao satoya on twitter. Amaury, he said he bitcoin do not understand the basic logic.

 The coin ring year Drama: bitcoin discourse right of the three party dispute

Who is Amaury S Chet?

Amaury S Chet Bitcoin ABC has been the chief developer active in various activities on the BCH, is one of the main characters of foreign propaganda on behalf of BCH. 8 2018, Amaury S Chet BCH Slack broke the news has been kicked out of the community, he proposed the use of reason directed, “Australia and the Cong strongly opposed the advance consensus (pre-consensus)” framework for reducing transaction time proposal.

As Bitcoin ABC chief developer, Amaury puts forward many suggestions have been adopted, so he soon on the deployment of BCH new address format, wallet and Stash wallet has announced the new address format.

 Bitcoin: bitcoin circle year drama discourse tripartite dispute

And, in many disputes encountered in the development of ecological BTC, such as a substantial increase in the capacity of block address format, how to regulate the sort to promote BCH expansion, change bitcoin cash, change the wrong transfer loss is irreversible, and lead to the original block encryption currency bifurcation network effect loss problem, he put forward their own views.

Whether Amaury is really Nakamoto now is still a mystery, but for sure, after after the bifurcation so far, double the price of BCH near BSV, but the reality is that the BCH Title Bitcoin ABC team and no substantive progress.

But even so, the battle for control of the bitcoin, BCH is still one of the most powerful competitors. What ace Jihan Wu, who also don’t know.

BSV camp

O the cong “defeats”

As the November is to lose the war, the Macao Cong does not seem to have been much affected. He represented the BSV network, BCH ABC more active now than a little.

And in the past, Macao Satoshi Nakamoto claimed to be evidence, there will always be deep grilled users, to prove that he is false, this is no exception. A few days later, Reddit users will pick out the evidence of fraud, the details can refer to “fraud if the level is not high enough, that you can’t be Nakamoto”

Not only that, Twitter V “WikiLeaks” specialized in Github built a library, which records the Macao Cong 6 false evidence, and there are 13 articles describing different specialists said Australia the Cong is a liar, which V light God 3 times the other Macao Cong.

 The coin ring year Drama: bitcoin discourse right of the three party dispute

In addition to Macao Satoshi Nakamoto in “self proclaimed” defeats, he is trying to shape and identity with nakamoto.

“I love to wear a suit and tie. This is my choice, and is a wealth matched normal decision. “He stressed that he is not bad money, not wealth, with Nakamoto indifferent money characteristics. He said his occupation is the court charged evidence, has been called the “influential spy”.

Therefore, he designed and invented bitcoin is similar to the termination of such occupation demand, and the ultimate purpose is to provide funds for tracking or CIA special operations traces. This has been with Australia, the Cong bitcoin service in the world since the government slogan consistent, but whether it is the initial creation of bitcoin is Nakamoto So can make nothing of it.

BSV active ecological

Although we still do not believe the Macao Cong is Nakamoto So, but he represents the BSV network has a very active.

In January 25th, the application of a watch appeared on BSV, which is the first dynamic information bitcoin block chain, many people think that this watch the extraordinary significance, indicating that BSV has been carrying the web page code, this is not seen before. If the HTML code can be on the chain, the application of the gameplay will emerge in an endless stream.

 Bitcoin: bitcoin circle year drama discourse tripartite dispute

Sure enough, from the beginning of the clock, almost every few days there will be some new applications appear in BSV, audio chain, small game chain, even the classic Super Marie on the BSV chain. Compared with the BTC core and BCH ABC network, BSV is more force in application, several developers are always trying to put something new in the chain.

 The coin ring year Drama: bitcoin discourse right of the three party dispute

Some experts believe that the HTML code is not a desirable behavior in a block in the chain and is not safe. In this case, the virus code can also be put into the block chain, this is for the user, is a great security risk.

But these are not important in the view of BSV, the code chain is just a way, their ultimate goal is to bring the Internet into the side chain of bitcoin.

The development of the Internet for 20 years, has been very convenient for people’s life, but now it seems there are some problems, such as the most serious problem of trust. Macao Satoshi proposed a new project called “Metanet” in November 30th of last year’s CoinGeek conference, the purpose is to create a chain block based on the Internet, a new value network.

The Macao Cong in the CoinGeek conference held a second-hand car of examples to explain his ideas. Now buy second-hand car online, the merchant told all the information of a car buyers, buyers may not believe, because the trust problem is too serious, buyers can not verify businesses say. But in the chain, a second-hand car was repaired several times, use a long time, had an accident where the information is recorded in different groups. The buyers will not have trust issues, because the chain of information is cross validation, it is difficult to fake.

It seems in Australia the Cong, this is the real purpose of bitcoin, bitcoin transactions through the compressed data transmission, in order to change the mode of operation of the Internet, the Internet is now more efficient, more secure.

Who is in the Cong 2.0 version of the war has begun, a veteran of the bitcoin core team to rely on Lightning network maintenance of the will of Nakamoto So, the representative of the Macao Cong BSV want the Internet to become the side chain bitcoin, BCH ABC team to be outdone, high prestige developers also stand out war.

In a variety of copycat currency bubble burst out, in 2019 years, our attention has been focused on the encrypted currency originator body, which is not laid a year-round tone?

Wyoming will digital assets classified as property, other state tax bill payment currency launched encryption

According to Wyoming’s official website news, and block chain related SF0125 bill, the bill will be digital assets classified as property.

The bill will be digital assets is divided into three parts, including digital consumer digital assets, securities and currency. Digital asset is specified in the Uniform Commercial Code of the property; authorized digital assets security interests custody service standards and procedures for the bank, hosting services etc..

The provisions of the bill, financial institutions “in 60 days written notice to members, can provide hosting services to meet the requirements of digital assets”. The bill will come into effect on July 1, 2019.

After the news, Wyoming has other block chain and encryption currency bill by legislation, in order to promote encryption currency supervision.

In January 16th, Wyoming launched a representative block allows companies to issue stock chain token bill. The bill of the current draft stipulates: “all or part of the shares of the company may be specified in the articles of association of the company can be in the form of shares on behalf of tokens.” If passed, the bill will come into effect on July 1, 2019.

In January 11th, the United States House of Representatives, Wyoming mining business and economic development committee through the financial bill sandbox technology. If the bill becomes law, the authorized California to allow start-ups to test new technology, and decide how to play a role in the existing regulatory system. It is reported that this regulation involves block chain startups.

The rest of the United States also launched a bill.

In January 24th, Indiana also proposed a bill to accept encrypted currency as state tax payment.

In January 23rd, the Committee of New Hampshire after the discussion, unanimously adopted the state bitcoin tax bill HB470, allowing residents to pay certain taxes and fees for bitcoin. At present, the bill is still waiting for the executive branch and the Executive Committee to vote again.

Earlier, Ohio became the first to accept bitcoin as a payment option state tax.

I am Odaily reporter for the daily planet of prosperity (micro signal wsuixin12), plus friends please note Name, unit, position and reason.