Block chain expansion vision is not a joke
“Well, the etheric Fang finished, let us return to the Ethernet (ethereumclassic), classic square.”
The joke from the etheric Fang founder VitalikButerin mouth, this is only mentioned in his Shanghai Devcon2 Developers Conference keynote at the. Although the etheric square project in the future facing the change of complex technology (and the recent controversy, Buterin bifurcation hard) on the podium still convey confidence and personality, which makes him on the day of the speaker is become an independent school.
The theme of his speech, entitled “Purple revolution” (TheMauveRevolution). Block chain network problems frequently occur, it is not surprising, as more and more banks and companies seeking to use block chain system, the low efficiency of this new technology show in the world, the urgent need to solve the scalability problem.
Buterin uses a special title in the slide, called “what is the etheric square attraction?” He will, with its intelligent mobile phone network “in 1999 were compared.
First of all, the expression of Buterin in his see today, a series of problems to block chain center application platform based on the transaction, including the throughput limitation.
However, he told the audience:
“Most of these problems, we have the solution.”
In the remaining part of his speech, Buterin discussed the etheric Fang in the coming months and years, how to solve the scalability problem. Although he did not discuss any specific timeline or plan, but the speech seemed to resonate with the audience.
“Buterin has a very special ability, he can in this very urgent situation, come up with theoretical solutions. He can on their own “Toronto carp, block chain company Nuco chief operating officer KesemFrank told reporters.
Next, Buterin also talked about the split program Ethernet lane, this concept will lead to more than a block chain, on this point, Buterin also delayed the meeting before the announcement, the upcoming third version of “the mauve” (mauvepaper).
Ethernet network will face major changes in square, is the consensus algorithm from the proof of work (PoW) into an alternative equity amount that (PoS) consensus algorithm, whose name is Casper.
Buterin explained that the mining process of this consensus algorithm will seek a virtual copy of bitcoin, without wasting power.
In essence, consumers need to buy virtual currency to exchange Ethernet virtual machine, and then copy the bitcoin mining verification process.
“Virtual miners tracking protocol”, explains Buterin.
However, the idea of Buterin is not so simple, he is also known for its revised “assumption provides some fundamental flaws in the vulnerability.
First, he pointed out that if the purchase of virtual machine needs to wait to join the pool, it is possible to make a more difficult to participate in the system.
Buterin also envisages the withdrawal and trade restrictions, to ensure that those verified participants will not hurt the computing network.
“If you were mine, you can call this function called” start withdrawals. “. Then after a period of time, such as after a few months, you can withdraw the money, and your etheric coins out, “he said.
To solve the problem of evil virtual mine
And the key problem is the possibility of evil, virtual miner.
The key to solve this point, he expects the PoS algorithm will encourage participants to continue to support the “win” version of the transaction history. A solution he proposed, is in agreement contained in the so-called “darkuncles” or “dunkles”.
“Make a block in the other chain, means that you will get punished, this will hurt you,” he explained.
Here the so-called “uncles” refers not to add to the effective block chain blocks, in bitcoin refers to the isolated block. Dunkles said he foresaw will lead to severe punishment, the loss of even 10 times larger than the reward.
Buterin believes that under the PoS protocol, the verifier will bet they think will win the blockchain.
“Start betting is conservative, but with the passage of time, the verifier will see, we will be in a specific block betting ratio is 10:1, then 20:1, then 40:1, without specific block block chain value loss will expand exponentially,” he said.
Although the theory of speech is very strong, but the goal of the Buterin is actually very simple.
“My dream is to achieve onchain expansion at the same time, can also run the etheric square in the ordinary notebook computer, without other things.”