What about the development of the forgotten trading platform public chain?

This year seems to be the year of the prodigal son.

Even Filecoin and Polkadot, which have been jumping tickets for a long time, have the appearance that the main network can be put online this year. Difinity, which is expected by V God but with more serious jumping tickets, also announced its own development progress, which looks like the final battle of the public chain.

In the classification of the public chain, the public chain of trading platform is an important branch. Under the premise of having application scenarios, how to guide the flow and attract the new may be the focus of the public chain of trading platform. Today we will take you to comb the public chain of four trading platforms progress.

To put it simply, the two public chains of COIN security, one focusing on DEX and the other copying Ethereum focusing on DeFi, OKEx public chain will make the next EOS, Huocoin public chain points to finance, and Gf.io public chain introduces the original RTM model to realize the withdrawal of transactions and the recovery of private keys, so as to improve the security of the whole ecology.

Binance Chain

The origin of Binance Chain can be traced back to March 2018, when Coin-AN announced its entry into the public sector. A year later, the main network of the Binance Chain was launched. At that time, the huobi and OKEx trading platform, which was announced to enter the public sector at the same time, had not made any progress yet.

Binance Chain is based on Cosmos's Tendermint, which adopts BFT and DPoS consensus algorithm. The first and most important application is Binance DEX.

So far, DEX has nearly 140 trading pairs, with an average daily turnover of $17 million. But Codex is still not in the mainstream DEX circle.

At the peak of COMP's mining, Ethane DEX was trading $480 million in seven days, according to Dune Analytics. Uniswap, the leader, was trading $220 million in a week.

In this regard, coinan's solution is to launch another public chain "Coinan intelligent chain", the most important feature of which is support for Ethereum virtual machine. It is not hard to imagine that the intention of COin-AHN Intelligent Chain for the time being is to replicate Ethereum, especially the recently highly regarded DeFi ecology.

The lending platforms led by MakerDAO, Compound, and AMM DEX represented by Uniswap and Balancer will certainly be copied on the BNB smart chain, and BNB will also be sure to appear on THE BNB DeFi app, as well as cross-chain assets such as BBTC and BETH.

OKchain

In the same year that Binance Chain announced its upcoming launch, OK Group also announced its move into the public Chain, with a plan to create the OKchain. In February, OKchain tested its online line, along with OKEx DEX.

Technically, OKchain is developed based on Cosmos SDK. Similarly, Tendermint and DPoS are used as consensus algorithms. It can be seen from the test network that the average block time is 2.4 seconds.

Look at the current development of OKchain, very much like the route of EOS. OKchain is now conducting the election of supernodes. According to OKLink browser, the number of nodes in the test network has reached 57, and 21 supernodes will be selected as alternatives. Similarly, THE preferred application of THE OKchain ecology is DEX, although OKDEX does not use AMM, which has been on fire recently, and is still a thin order book.

On the DEX concept, OKchain has introduced an OpenDEX concept that allows users to open a DEX on the OKchain themselves. It is not the first time that OKEx has been used. In 2018, in order to compete with FCoin, OKEx launched its own hundreds of trading platforms, allowing users to open their own trading platforms by using the underlying services of the trading platform provided by OKEx. OpenDEX takes the concept one step further.

Huobi Chain

Compared with the target DeFi of the coin security intelligent Chain in 2020, the Huobi Chain seems to have an earlier layout in the field of DeFi. In 2019, the public Chain initiated by this Huobi platform has already determined its direction of doing finance and DeFi.

Huobi Chain adopts The Overlord consensus algorithm of Nervos, and thousands of TPS have been tested on the network. According to the test web browser, the Huobi Chain has an average block release speed of 4 seconds. As a public financial Chain that can be supervised, Huobi Chain also puts forward the concept of "supervision node". It is likely that in the future main network, supervision node will have some power that cannot be reached by other nodes.

Although no applications have been announced on the Huobi Chain, from the perspective of DeFi, it should be more than just Uniswap and Compound applications. There may be some different financial applications under the regulatory node mechanism.

GateChain

On June 29, 2020, GateChain launched the main network 1.0, ending the two-year test network phase. In terms of technology, the current TPS of GateChain test network has reached more than 2000, with a daily processing capacity of 170 million.

And compared with the other three common chains, GateChain introduced a special function - can be withdrawn transactions.

This is not a new concept, as EOS tried to solve the problem of stolen account assets with so-called "governance of people" in 2018. At that time, EOS introduced the concept of a "court", hoping to reassure users within EOS that any problems with their account would not be unmanaged like other networks, and if you complained, the court would solve the problem for you.

But they failed. To put it simply, these court organizers overestimated their capabilities, user accounts were stolen, it was difficult to get their assets back, and some assets were even transferred by hackers, not much different from other networks.

MetaMask Wallet has tried something similar in the past, using the logic of overwriting a deal: on Ethereum, if you want to cancel a deal, it is commonly known as launching a New Deal to overwrite it.

The principle of this treatment is that ethereum mining union gives priority to transactions with higher fuel costs, so the second covered transaction needs to have several characteristics: same random number, Gas fee at least 10% higher than the previous transaction, same address initiated, etc. In theory, miners should prioritise high-fee transactions.

But there are still probabilistic issues with this approach, and it's not friendly when interacting with DApp.

So how does GateChain's revocable transaction work?

Users have two types of addresses on GateChain: ordinary wallet and insurance wallet, which start with GT and vault respectively.

When using the insurance wallet to transfer money, the Revocable Transaction Model based on Gate Public chain allows the user to choose the Revocable time and settlement block height. During the Revocable time, any Transaction initiated by the user at this address can be withdrawn, and the irreversible state will be restored after the withdrawal time.

So, can the transaction be withdrawn for the block chain user's rigid demand?

Have to say, this is really a part of the user's rigid demand, especially just into the circle of new people. The story of hackers stealing money has gone without saying, and cryptocurrency scams alone have left some investors suffering.

For example, in June, a swindler hijacked 3 YouTube channels, posing as Elon Musk, founder of Tesla, and swindled them in the name of Musk. They played Musk's live stream on YouTube and put the bitcoin address at the bottom to attract investors with high returns.

Check the address released by the fraudster on the browser, and nearly 1.5 million DOLLARS of Bitcoin transfer was made within 2 days. Although it is not certain that all the 1.5 million dollars belong to the deceived investors, it can be concluded that someone must have been deceived.

However, if there is an RTM model, investors can withdraw their trades after being cheated and avoid unnecessary losses.

In addition to solutions like RTM model and insurance wallet, GateChain has other layouts for the improvement of security performance: for example, the asset tracking platform block.info aims to rapidly locate asset flow and realization channels through Block chain big data, address label intelligent identification and other technologies; The 100% margin certificate is intended to prevent adverse risks from causing uncontrollable effects. When the common chain of other trading platforms emphasizes ecology, the biggest purpose of GateChain is security. Based on the characteristics of security, the ecology on the chain is considered again.

For example, GateChain will also introduce DEX and Defi ecology later. On the basis of security, what is the imagination space of DEX and Defi on GateChain?

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