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Give up utopian fantasy, Nervos how to help fire currency chain to achieve the real landing

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Polychain Capital, a leading cryptographic investment firm, once said of Nervos: 'this is probably the best team in China that knows about corporate chain design.'

Recently, the news of the official launch of huobin public link test network has attracted wide attention in the block chain industry, which is another global cryptocurrency trading platform that has been launched public link test network after coinan and OKEx, and the paradigm shift of platform general certificate has also kicked off.

However, BlockBeats observed that when the news was hotly discussed, the biggest highlight seemed to be ignored by many people, that is, firecoin chain is a high-performance chain jointly developed by firecoin group and Nervos Foundation.

As we know, most of the public chains developed by trading platforms are completed based on the Tendermint (Cosmos consensus) algorithm, while the firecoin chain is based on the Overlord consensus algorithm co-developed with Nervos.

BlockBeats previously reported that Nervos network is an open source public chain ecosystem and protocol set, the first layer adopts the workload proof mechanism to ensure the maximum degree of asset security, the second layer extends and captures network value through its value store's cryptographic economy design and CKB token.

So, a very interesting and interesting question begins to emerge: why did firemoney choose to work with the Nervos Foundation to develop such a chain?

First, we might as well review the technical characteristics of fire coin chain. According to its official introduction, firecoin chain adopts adaptive pipelining algorithm to improve throughput and adopts aggregation signature technology to reduce delay. Using account based ckb-vm to implement compiler and hardware friendly intelligent contract virtual machine; Built-in first-class asset type, the user's assets are managed by built-in service; Support for native cross-chain protocols, firecoin chains, Nervos CKBS, and side chains based on firecoin chains or Muta technology can cross chains.

When it comes to Muta, many readers may not know about it. BlockBeats interviewed an industry developer, he told reporters: "Muta is actually a blockchain framework, we developers can customize the development of PoA/PoS/DPoS chain or alliance chain based on Muta."

At the same time, we also know that the blockchain developed based on Muta technology can deploy the economic model and governance mechanism by itself, so it is no wonder that huobin chose the Muta framework developed by Nervos.

The emergence of the Muta framework is not only a convenient choice for developers, but also a boon for blockchain users. Because any block chain developed with Muta framework can interact with Nervos CKB across the chain, realize the transaction and transfer of assets on the chain, and also enjoy the security of the whole layer 1 PoW consensus algorithm.

In short, huobin chain is trying to break through the block chain infrastructure construction such as smart contract cross-chain on the basis of high performance, extensibility, interoperation and friendly regulation, so as to realize diversified business landing scenarios such as asset chain and open finance.

Particularly important is "regulatory friendliness". Huocoin-link has made it clear that it will support the compliance and regulatory framework on the chain, and integrate decentralized digital identity (DID) at the bottom. In other words, the execution rights of smart contracts, user identity characteristics and other information will combine to create a complete set of regulatory solutions.

"Microsoft released the late preview version of the decentralized digital identity (DID) network of ION in May 2019, which also made the block chain industry pay more attention to the field of digital identity and accelerate the implementation. The firecoin chain jointly developed by firecoin group and Nervos also shows this." A well-known blockchain security company in the head of the technology told the block beat BlockBeats reporters.

Digital identity will be a necessary and sufficient condition for the block chain to land, and it is also the inevitable course of human development. From the industrial age to the Internet age, most of the data in human production and life have been transferred from the physical level to the digital level, but human identity data has not yet formed a systemically usable digital network.

The traditional identity network is not linked, and there are still some problems such as easy counterfeiting, complete reliance on the third party for control, and individuals' inability to register freely and realize full digital identity. The arrival of DID will change that and make it possible for blockchain to land.

Now, these dapps in the blockchain world do not have a digital identity system, and everyone is registered and entered at will. Therefore, it is difficult to control illegal behaviors and smooth normal user relations, which will bring difficulties to the large-scale popularization after compliance. On these issues, it has to be said that fire currency group and Nervos are very forward thinking.

At the same time, huobin chain also innovatively proposed the concept of "supervision node".

In fact, with the development of blockchain to this day, regulatory intervention and protection have become an inevitable and must be embraced theme. Decentralization is not the end but the means to solve the problem. The addition of regulation will make the distributed ledger in the financial sector more controllable and better combine efficiency and fairness.

Just imagine that in some financial blockchain scenarios, a large number of assets on the chain are lost due to the user's wrong operation, or criminals take advantage of subtle technical loopholes to illegally steal the assets on the chain of relevant institutions or individuals. Regulators cannot afford to be absent, and a combination of "regulatory nodes" in design would mitigate such problems.

From the perspective of industry logic, the pure utopian fantasy no longer exists. Regulation and innovation have always been two sets of twins. Only by establishing a block chain platform that can be accountable and monitored, can it better meet the actual use needs of China.

For example, in the block chain system proposed by alibaba earlier, the regulatory account is located on the chain, and all activities and instructions are packaged into blocks and agreed with all nodes. A dedicated administrator account can send so-called "special processing instructions" to a node, which can then mobilize smart contracts to perform operations on a particular account.

We see that some other platforms may focus more on the application of encrypted economic transactions, while the flexibility of firemoney chain design, combined with regulatory friendliness, allows for greater imagination and ambition, making it possible to link assets in the traditional financial industry.

Therefore, Nervos's firemoney chain may be the most consistent with the realistic financial scenario due to its regulatory friendliness.

Let's turn our attention back to Nervos. What kind of blockchain startup team can be selected by the trade head trading platform to make such heavyweight development, instead of the Cosmos/Tendermint?

Nervos foundation co-founders Terry Tai, Daniel Lv, Kevin Wang, and lead architect Jan Xie are all blockchain industry veterans who have worked on a number of industry header projects including eethernet and imToken. In the first round of Private sale, Nervos also attracted a total of us $28 million from dozens of star investors at home and abroad, including sequoia China, wanxiang blockchain, jingwei China and so on.

Polychain Capital, a leading cryptographic investment firm, once said of Nervos: 'this is probably the best team in China that knows about corporate chain design.'Polychain Capital also matched its word with another $5.7 million investment in CKB's public offering last October.

Strong enough to even some brilliant team and management strength, we also see Nervos unique technology and advantages.

In Nervos Network, Layer1 CKB is the value storage layer of the whole Network. Instead of following the consensus of bitcoin, Layer1 CKB breaks through the performance limit, increases the ability to resist selfish mining, and is responsible for the verification and storage of state to the greatest extent to resist witch attacks and meet the conditions without access. Layer2 builds on this by providing higher scalability and minimal transaction costs, and is responsible for network computing.

On the other hand, the original token CKB represents the holder's equity share in the block chain storage space, which can not only release the storage pressure of the block chain, activate the liquidity of the transaction of storage resources, but also provide stable value support for the token and broaden the economic attribute of the token.

Nervos may not have much exposure to the market, perhaps because the technology stream's genes are in the bone marrow.

However, we can still see from the CKB block browser that more and more people are participating in the construction of Nervos CKB network ecology. The mining power of ckvos has exceeded 250,000gh, and the number of CKBS locked in Nervos DAO has reached 3.85 billion. Nervos may still be an underrated dark horse in the sense that the low profile has not taken CKB out of the market's sight, but has made it more and more data-driven.

The corporate chain developed by the trading platform has unveiled the mysterious veil one after another. It is undeniable that the corporate chain is the beginning of the transformation of the trading platform token paradigm, from the property of equity to the original assets on the chain. After all, all changes are inseparable from each other.