[View] no country needs private block chain


nnnMark D’Agostino is the corporate management partner of ConsenSys. Mark has worked at Deloitte and has opened a chain of chains, and he is also the co-founder of ConsenSys, dedicated to advising the world’s top 500 governments and central banks, as well as central banks in January, Vitalik provides technical support to the People’s Bank of China. Mark is also one of the co-founders of Grid, and has set up a strategic plan on the AdChain project and has pushed many strategic initiatives in ConsenSys. He has a wealth of financial services background, has the world’s largest banks to provide advisory services.n
nnAuthor: Mark D’Agostinon
nSomehow, someone asked us why Grid chose to use the ether square square block instead of a private block chain. This may surprise the Ether Square community, but there is still a lingering fear of the traditional sector (medical, energy, etc.) to the public block chain. We believe that one day in the future, the public ether square will be widely used in various industries, but now choose the public block chain Grid is still a minority phenomenon. So why should we choose a public block chain? That’s because there is a serious flaw in the private chain.n
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nPrivate non-EVM “block chain”n
nAlex Miller often says me as a “hidden snake” because I patiently listened to business people talking about their chips and interests, and then I put forward some technical problems, but these problems are usually very difficult to answer. Recently, I talked to a colleague of a large competition company, and he himself admitted that “just selling these things” can not clearly explain how their patent system will guard against the technical details of the infinite loop. It turns out that the node operation of the platform must manually remove the node and restart, otherwise any process that does not execute within 30 seconds will increase the time limit to close the program.n
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nThis architecture is not ideal, obviously not to EVM (ether square virtual machine) based. Fortunately, these smart people who have never met me can create a private Ethernet network with little cost and benefit from it. But what makes me confused is why someone will choose a non-ether square building, but I suspect that in the near future they will not do such a choice.n
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nPrivate ether square block chainn
nAs early as August 2015, I led a team to develop a project about customer loyalty using a private etherfront block chain for a private bank in the northeastern United States. At that time, there were no Truffle, MetaMask, or INFURA projects in the early stages of the Ether Square, which was my first project in ConsenSys. When I was still in Deloitte to manage their block chain project, I also recruited the original Consensys business team as a project manager. Shortly after that project, I officially joined ConsenSys to help ConsenSys form a corporate group. But also the loyalty of the project so that I understand that I should be determined to expand the commercial customer infrastructure construction and allow them to share the verification. Also this project facilitated Igor Lilic in Microsoft Azure to build and start click on the etherbox instantiation, which became the cornerstone of Microsoft BaaS (Blockchain as a Service).n
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nOne of the merits of the Enterprise Eiffel Alliance (EEA) is that they are still committed to the possibility that the private chain will one day go to perish (insert the mandatory intranet vs the Internet). This means that the EEA software stack is designed to be portable to the public ethercase chain, and any enterprise application based on the EEA block chain (at least theoretically) can migrate to the public ethernet network without having to rewrite all the logic. But it can not be said that other enterprises “block chain” truly represents a professional competitive advantage.n
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nEnterprise ethercom federationn
nWhile the private ether chain chain in the Sandbox and the development environment of the contribution is priceless, but I still feel that they lack the basic value provided by the public chain. Although private chains are easy to develop, they do not have the basic value of a common chain equivalent. Consensus is expensive; every day millions of dollars in income are paid to miners to ensure the safety of large public blocks. Therefore, protecting the public etherblock chain from the firewall is always safer than privately built.n
nOne of the best points for the public ethercom is that participants around the world are protecting their assets locally, rather than actively protecting isolated data that could be infiltrated by hackers. Now, if an evil actor tries to launch a 51% chance of attack in Bitcoin or Taitong, it will cause hundreds of millions of dollars in losses and thus may try more attacks.n
nOnce the etherbox began using the Casper version of the POS, the system can quickly recover from this type of attack, but for the attacker to attack is very expensive.n
nOne of the most important achievements of Satoshi’s design is to stimulate people’s behavioral motives to protect the value of the agreement itself. Private block chains do not have a similar degree of economic mechanism because they do not have the value of exchanging tokens at all. The encrypted economy fundamentally changes the economic viability – we have a system where anyone can and system users do not need to license the transmission of native digital value.n
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nThoughts on Grid Design Decisionn
nThe Grid system relies on the concept of user agents that we describe in blogs. We are eager to develop a solution that allows users to buy money in near real time to pay for electricity. We need a framework that allows customers to keep their assets at all times safe. We also need a solution so that we do not need to rely on traditional banks and payment business to complete the transaction. Mike Goldin mentioned in a recent Adchain interview:n
nBasically, the block chain gives us a programmable currency. When you can design a currency plan, you can design a plan incentive policy. When you can design planning incentives, you can design and plan people’s behavior patterns.n
nThe Grid bonus mechanism is effective because we can design and plan money to design and plan human behavior. We can not achieve this in a chain of private chains that are globally recognized and can not deliver digital values.n
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nProgrammable currencyn
nEarlier this year, when Alex and my Amsterdam Rockstart Accelerator summit put forward these ideas, only a few companies can understand this profound meaning. Only a start-up company has proposed a solution that uses a public block chain, while all other companies have chosen to sell their own private stacks and put forward a variety of reasons to try to explain the use of public block chains is illogical. We see that many competitors in the energy sector want to use the private block chain, rather than the whole as a simple database.n
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nEditable currencyn
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nThe future is open and openn
nWith the continuous development of the ether-based community, we believe that the fact that the standards of the public block chain infrastructure are imperative, especially because of the concept of user agents and “open execution” (to ensure that the procedures are described or intended to be performed). There are no other software stacks in the world that have comparable advantages, and the most interesting part of the tower is not the norm – but the network. We have already begun to see a glimmer of hope to turn to the etheric tower too public block chain. For example, in the past year Alex Miller, Matt Corva, John Lilic and I have been involved in cooperation with one of the world’s largest power companies. Their blueprint for development includes the transfer of their private building to the public ethercom network. I have the confidence to see the timely reshuffle like the popular fatigue of the popular words, we will have a clearer judgment of what kind of “block chain” is good, what can not solve the problem.n
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nnFour city meeting will be arrangedn
nChain chain pencil (chainB.com) learned that in September the Grid will open the future of energy in China trip, will be in Beijing, Shanghai, Hangzhou and Shenzhen, four cities to meet, welcome to participate. The specific arrangements are as follows:n
n- Shenzhen – 1 September Friday 19: 00-21: 00nNo.331, Keyuan South Road, Nanshan District, Ali Center, T2, Block 12, P2 God Whale Joint Office Spacennn- Shanghai – September 3 Sunday 14: 00-16: 00nChangning District, Yan’an Road, No. 1319 Li Xingxing Plaza Business 3rd Floor P2 joint office spacennn- Hangzhou – September 6 Wednesday 19: 00-21: 00nHangzhou West Lake District Qianjiang Xixi new block 6 X – Worknnn
– Beijing – September 8 Friday 19: 00-21: 00n

Haidian Zhongguancun Street on the 11th e World Fortune Center Block A B2 P2 joint office spacen
nnScan the following two-dimensional code enrollment to participate in four city meeting.n
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nFor more information, please click here to read the original, download product white paper.n
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