Impossible Triangle decentralization efficiency security

1. Decentralization is idealism. Although there is no decentralized P2P platform at present, with the development of blockchain technology, there is a high probability of decentralized peer-to-peer lending in the future
centralization has the advantage of centralization, which should not be too one-sided.

2.

Blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. Blockchain is an important concept of bitcoin. It is essentially a decentralized database. At the same time, as the underlying technology of bitcoin, it is a series of data blocks generated by using cryptographic methods. Each data block contains a batch of information about bitcoin network transactions, Used to verify the validity of its information (anti-counterfeiting) and generate the next block

if such technology wants to be put into application, the biggest problem is the "Impossible Triangle problem"

that is, scalability, decentralization and security cannot be achieved at the same time, and only two of them can be achieved

most of the existing public chain projects in the market are difficult to put into use on a large scale

3. Compared with BCH and BSV, lightning bitcoin LBTC is also derived from bitcoin, and its original intention is to solve some shortcomings and defects of bitcoin itself. However, the biggest difference of LBTC is that it adopts dpos consensus mechanism instead of pow consensus mechanism. The most significant advantages of LBTC are as follows:

first, it greatly improves performance, As we all know, the number of transfers per second of bitcoin, that is, TPS, is only about 7, and other bitcoin forked coins using POW consensus mechanism are almost the same. The theoretical value of TPS of LBTC can reach 2800, and the current actual level can reach more than 1000, and the performance has been improved by several orders of magnitude. The slogan "fast as lightning" is by no means empty words. If you are interested, you can download a wallet from the official website of LBTC or Cobo to experience it

Second, it greatly reces the energy consumption and participation threshold. As we all know, the high energy consumption caused by POW mining represented by bitcoin has been criticized by the outside world. At the same time, because mining has already become a heavy asset instry, mining machinery, mining and other fields have been monopolized by a few big players, ordinary small and medium-sized investors and new manufacturers have little room to survive, It has formed a situation in which the strong are always strong. However, POS / dpos currencies only need ordinary PCs or even mobile phones to run wallets and stack, so as to obtain revenue

thirdly, it introces chain governance, which achieves a good balance between democracy and efficiency. At the same time, it encourages users to actively participate in community affairs through voting and staging mechanism. In the world of pow, power is power, simple and crude; In the world of POS, those who hold more money will have more right to speak and gain

in the world of dpos, it is not simply to see who holds more money. At the same time, it needs the extensive support of the community to exercise power on behalf of the community. At the same time, the majority of small and medium-sized users also have the opportunity to launch motions, express their demands, and participate in decision-making

because bitcoin has carried too many interests, we are very cautious about any improvement of bitcoin, and the pace is very slow, which leads to the division of the community and the proction of many forked coins. However, in fact, compared with bitcoin, the improvements made by BCH and BSV are quite limited, so the improvement in all aspects is also very limited

therefore, if you take a closer look at LBTC, you will find that it is actually a very interesting bitcoin fork coin. I think it is a very bold and imaginative experiment based on bitcoin. If lightcoin has been used as a testing ground for new technologies and new ideas for bitcoin in many cases, LBTC can be regarded as a testing ground for bitcoin with greater and more thorough changes

just mentioned, one of the biggest obstacles in the promotion and use of bitcoin is that TPS is too low to carry high-frequency transactions. Compared with bitcoin and some well-known bifurcated currencies such as BCH and BSV, the performance of LBTC is improved by several orders of magnitude, and the actual TPS can reach more than 1000

increasing TPS can rece verification time, but it will inevitably sacrifice security or decentralization. If TPS increases blindly, blockchain will completely sacrifice "decentralization". At the same time, the requirements on the miner's machine configuration will be more stringent. If it can not upload the transaction in time, it will proce more unfinished transactions, and the hidden danger will be greater. Although EOS uses 21 super nodes to achieve high efficiency, it also sacrifices some "decentralization" and security, and introces potential risks such as DDoS

in the past two years, many public chain projects blindly pursue high TPS, and often claim to have achieved tens of thousands, hundreds of thousands or even millions of TPS. In order to improve TPS, some project parties buy millions of equipment to test in a laboratory, which only plays a PR effect or amuses themselves. Such a high TPS is meaningless. Even if it can reach or close to such a number, for the current market demand, it also belongs to excess performance, which is bound to cause unnecessary waste of resources

according to the calculation of relevant research institutions, even if the public chain processes 100 million transactions every day, thousand level TPS is enough. It's worth noting that the TPS of Libra, which is to be launched by Facebook, is also around 1000. You should know that Facebook has as many as 2.7 billion users in the world, which should be determined by them after careful consideration

this means that LBTC's TPS can meet the needs of processing 100 million transactions per day, which is quite pragmatic and can fully meet the needs of global users in the next few years. Moreover, LBTC also has a high degree of scalability. With the further improvement of global Internet infrastructure, the performance of LBTC will continue to improve. It can be said that the current LBTC has found a good balance in the "Impossible Triangle" of efficiency, security and decentralization

in the view of many bitcoin fundamentalists, only the pow path chosen by Nakamoto is the only right way. POW consensus mechanism has experienced nearly 10 years of stable operation and continuous market test, and dpos has been more than 6 years since its birth. So how about doing an experiment to see what wonderful chemical reactions can be proced by combining bitcoin with dpos

if this dpos version of bitcoin can also withstand the continuous test of 10 years, will we still insist that only POW is the only right way for bitcoin? Of course, we don't have a definite answer to this question. Time will tell

although I also claim to be a believer of bitcoin, I think the existence of LBTC is very meaningful. This significance does not mean to replace bitcoin, or like some fans of other forked coins, I think that only the branch I support is the real bitcoin, but to explore more and wider possibilities in technology and form a useful supplement to bitcoin.

4. If so, you can find it in his authority, and then he will have the display of opening the floating window

5.

In the application and development of blockchain, it not only faces the technical constraints of the "Impossible Triangle" paradox, but also risks the erosion of national sovereignty. Theoretically speaking, blockchain uses a set of mathematical algorithms based on consensus to establish a trust network between machines, so as to establish credit through technical endorsement rather than centralized credit institutions. It does not need to implement rules artificially, but is controlled by pre-defined technical rules, which is a completely decentralized approach. But it is not

the "Impossible Triangle" paradox in blockchain

in the application and development of blockchain, another factor that affects and erodes national sovereignty is the anarchism and liberalization tendency that the governance of single technology may bring. Blockchain fundamentally subverts the existing legal supervision system, and realizes "autonomy" purely by pre-defined technical rules, which may improve the convenience and efficiency of operation. However, e to the lack of corresponding legal regulations, it is also easy to cause the infringement of national sovereignty, public interests, various organizations and indivial rights and interests. The application of blockchain not only needs to solve technical problems, but also needs to study and solve the connection and integration of cyberspace and real society< br />

6.

bus line: No.31 interval → Metro Line 1, the whole journey is about 16.5km

1. Walk about 10m from the first hospital of Zhejiang Medical University to the first hospital of Zhejiang Medical University Station

< P > 2. Take No.31 interval, pass 2 stops, and reach Shengli theater station (or take No.31 working day)

3. Walk about 180m to longxiangqiao station

4. Take Metro Line 1, pass 11 stops, Arrive at the passenger transport center station (or take Metro Line 1)

5. Walk about 260 meters to Hangzhou bus passenger transport center station

7. First, the POS + pod hybrid consensus mechanism of the exclusive game community greatly improves the efficiency and consistency of the public chain network
Second, community autonomy. All decisions are made by community members. Under the hybrid consensus mechanism, both POS krypton players and pod technology players have higher yield and discourse power, which effectively avoids the impact of centralized computing power and financial resources on the whole game ecology, and thus reces the risk of bifurcation. If a node wants to propose a bifurcation for a certain protocol or standard, all nodes need to participate in the voting. If the pod + POS weighted value of the voting result exceeds 50%, the system defaults to the chain with high weighted value as the effective chain, and all nodes will migrate to the new chain mining at the time agreed in the voting result
thirdly, because game players have requirements for the performance and bandwidth of hardware devices, vs public chain sets the node players involved in accounting into two categories: full node and light node. Players can manually switch between full node and light node. Generally, light node mode is adopted in the process of the game to provide more hardware support for the game, and full node mode is started after the end of the game and ring the hang up period
fourthly, all the transaction rights in the game come from the players. Only after the players are authorized by the exclusive secret key, the game assets can be circulated. At the same time, all transaction data are encrypted by ECC (elliptic encryption algorithm), which is a modern cryptography technology, to ensure the information security of blockchain
fifthly, as a vertical public chain in the game field, vs will first complete the overall solution of decentralized game proction, virtual asset distribution and token economy operation. It includes game engine, developer environment, standard SDK, etc., which reces the difficulty and threshold for game developers to enter blockchain game development from various environments, greatly reces the workload and cost of game development team, and also makes vs public chain highly scalable.

8. Xu Mingxing, a blockchain expert, believes that the balance of "decentralization", "scalability" and "security" has always been a problem hindering the large-scale application of blockchain“ Decentralization, scalability and security form an "Impossible Triangle". The pursuit of "security" and "decentralization" can not give attention to "scalability", the pursuit of "security" and "scalability" can not give attention to "decentralization", and the pursuit of "scalability" and "decentralization" can not give attention to "security". From the perspective of scalability, the throughput of mainstream blockchain platforms is still very low. From the security point of view, malicious nodes will destroy the security and stability of the blockchain system, and the constitution of the blockchain based on public key cryptography may be attacked by quantum computing
Xu Mingxing put forward his own solution for scalability and security, from chain to "network", in the way of DAG, by changing the way of data organization, and in the way of concurrent computing, the processing speed of blockchain is greatly improved. At the same time, fragmentation technology can allocate different nodes to different fragments. Each node only needs to verify the transactions in its own fragment, and does not need to verify the transactions outside the fragment, so as to rece the repeated calculation of nodes

9. If the Federal Reserve does not issue a large number of dollars, it will not be able to make up for the huge trade deficit and foreign investment of the United States; But if it is issued in large quantities, countries will lose trust in the currency. This is the so-called Triffin puzzle< However, the defects of the Bretton Woods system are as follows:
1. The contradiction between the solvency of the US dollar and its confidence in the US dollar is manifested in the contradiction between the status of the US dollar as an international currency reserve and its solvency, the asymmetry of policy coordination between reserve currency issuers and non reserve currency issuers, and the dilemma between internal and external objectives under the fixed exchange rate system
2. Because of the rigid exchange rate system, it is impossible to achieve balance of payments automatically by floating exchange rate, and the responsibility of adjusting balance of payments mainly falls on the non reserve currency issuing countries, at the expense of their economic development goals
to sum up, we can actually conclude that the Bretton Woods system is trying its best to achieve the Impossible Triangle, but it is not because of this that the Triffin puzzle appears, but because of the Triffin puzzle, the existence of such a contradiction makes it difficult for the Bretton Woods system to advance and finally leads to its collapse, Therefore, the causal relationship should be that the Triffin puzzle led to the collapse of the Bretton Woods system, but the Triffin puzzle was not proced by the Bretton Woods system
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