Origin: introduction to | project when taobao and didi evolve to blockchain era

The emergence of the Internet has led to the rise of e-commerce platforms and the sharing economy, and has completely changed people's way of life.

Now, people are used to shopping on the Internet, renting rooms on Airbnb, booking rides on the Internet, and sharing charging kits... Unicorns have emerged in every segment, as if the big picture of e-commerce and the sharing economy is sealed. However, Origin Protocol, a star blockchain startup based in sanpan, wants to change the landscape.

So, what is the Origin Protocol going to do? I believe you will have a clear understanding after reading the introduction of BlockBeats.

Program logic

According to the Origin Protocol, the emergence of a Shared business model does present a significant opportunity, with the global sharing economy expected to generate $335 billion in orders by 2025. Such a market worth hundreds of billions of dollars, however, still contains many unreasonable points: platform revenue windfall, data monopoly by the giants, ordinary users can not profit as the platform growth.

Airbnb charges a handling fee of 5% to 15% for each order, and hosts 3% to 5%. Uber charges about a third for each order, and didi chuxing, the most familiar service, charges about 20%.

Compared with these explicit incomes, the user data obtained by the sharing economy platform is more valuable. The travel and shopping data can lay a good foundation for the next precise marketing, and can also inspire reasonable real estate construction locations. However, the average user is "insensitive" in this process. They do not know that their data is being used, let alone share the benefits of platform development.

In the end, there is always a third party in today's sharing economy and e-commerce platforms, not a pure peer-to-peer transaction. So someone came up with an inherently distributed blockchain to solve these problems.

The Origin Protocol is an ethereum-based peer-to-peer sharing economy and trading market that minimizes friction fees between buyers and sellers. Origin stores front-end metadata on IPFS, and users own and protect their own data. The transaction funds will be held in Origin's smart contracts, which will allow anyone to list goods, leasing services or skills services on Origin without access, and anyone can buy them using cryptocurrency (or a credit card).

Block rhythm BlockBeats opened the Origin of the Protocol trading market, trading category including clothing, gift CARDS, housing, services, art, consumers can use the Origin Messaging (similar to taobao ali prosperous, but based on Ethernet fang encryption) and seller communicate, payment when consumers need according to the seller's support, choose pay by ETH, DAI or OGN starleague, according to official data, later can also through some chain mechanism under support credit card payment.

In the event of a dispute over a transaction, the Origin Protocol introduces a third-party arbitration service (currently official Origin) to adjudicate, which penalizes the user for a less creditworthy merchant or consumer.

It is worth mentioning that the Origin Protocol implemented the Origin Rewards program and the Origin Commission program in order to accelerate platform startup and accumulate seed users. Ordinary users can get an OGN incentive to participate by verifying personal information, writing reviews, and supporting activities like Origin on social media. DApp developers can get OGN incentives to participate in the commission plan by providing sellers with product promotion programs, search ranking optimization and other services, only to be able to pay OGN selectively if the seller succeeds in selling the product.

The Origin Protocol also has its own concerns about lowering the user's threshold for use. The platform pays the Gas fee in the transaction for the user through a repeater. Block beat BlockBeats used to be in"Ethereum free use? These four Gas handling plans are worth paying attention to"This article has made a summary and interpretation of the current gas-free scheme, interested readers can refer to it by themselves.

Through the economic

Among the current USES of OGN are payouts, incentive fees, Repeaters, and future plans for governance (staking).

BlockBeats has learned that the Origin Protocol does not officially disclose the distribution model. However, we asked Origin officials and made the following image based on what they said.

(block beat BlockBeats note: Origin's OGN is temporarily assigned to the 42.5% share of the team, with a total of 1 billion OGN. The specific distribution model is subject to the actual announcement)

Team and management

Origin Protocol has an entrepreneurial team migrated from the traditional Internet and has rich practical experience in business.

Matthew Liu co-founder of |

Matt was the third Youtube product manager, product development team leader at Qwiki, and co-founder of consumer services company PriceSlash, which was acquired by BillShark a year ago.

Josh Fraser co-founder of |

Josh is a serial entrepreneur, in a joint creation of Origin before Protocol, has several business projects: EventVue social network, the network speed up service Torbit (after the laboratory acquired by wal-mart, Forage and PriceSlash.

Yu Pan | r&d engineer

Yu Pan was one of the first six founders of PayPal and was a Youtube employee no. 1. Yu Pan also worked at Google and has extensive technology development experience.

According to the Origin Protocol website, the project has raised a total of $38.1 million through the sale of OGN to over 800 investors in three previous rounds of financing. In addition to the star investors in cryptocircle, the project has also received support from traditional Internet giants such as Youtube founder Steve Chen, Reddit founder Alexis Ohanian and YC partner Garry Tan.

Block pulse interpretation of BlockBeats

Obviously, what the Origin Protocol wants to do is to create blockchain taobao, didi and Airbnb. Is it feasible?

In the view of BlockBeats, the advantage of Origin Protocol lies in the point-to-point merchant/consumer model, which minimizes the friction cost of each transaction, returns the profits swallowed by the third party of traditional Internet e-commerce giants such as taobao and amazon, and ultimately makes the whole transaction ecology more economic and efficient.

At the same time, when users use cryptocurrencies to price and trade goods, the process will be much more convenient, no need for cross-border payment, currency exchange calculation.

Of course, the Origin Protocol project has huge potential and ceiling, which also means huge challenges. Origin's lack of access means that illegal guns and drugs could flood the market, creating regulatory risks. We want Origin to be the next Shopify and not the next Silk Road.

Although the Origin market is open source, data is distributed, and the market is community-based, the companies and controllers behind the Origin Protocol are centralized.

It is just like that Zcash can use zk-snarks to trade anonymously, hiding every data that it wants to protect its privacy in the micro level, but the ECC company behind Zcash and its founder zooko are real, rooted in the centralized regulatory system. Therefore, even for small probability events, we have to consider what kind of macro impact Zcash and ZEC might face under the influence of extreme events.

Commercial barriers are another problem Origin Protocol needs to face. It is hard for ordinary merchants to migrate from traditional e-commerce platforms such as taobao and amazon. Although Origin reduces the transfer fee for each transaction, its popularity is still low, which indirectly increases the advertising and marketing costs of merchants.

User transactions or the biggest difficulty. Public awareness of cryptocurrency is not enough, which makes it difficult to pay with cryptocurrency, such as ETH and OGN, which also makes many people may prefer to pay with credit CARDS in the end. On the other hand, users may prefer to pay with an ETH, DAI or credit card (online legalcurrency), which is more liquid and less volatile, to OGN, which is less liquid and more volatile.

This represents, if only in the aspect of information stored in the code, community, decentralization, Origin market advantage will not clear now, but may be exposed due to the lack of a third party, to after-sales service logistics delay, the seller, the buyer malicious feedback relevant problems, such as OGN starleague will decrease under the extrusion of DAI and credit card medium of exchange value. So if OGN is in the future merely a pledge of repeater or verification node, but loses the function of means of payment, then its economic system looks a little thin.

In addition, although officials say Origin will consider protecting users' privacy by letting them choose their own data disclosure rights, determining the level of data privacy is difficult in practice as users' data is inevitably compromised to some extent whenever a transaction (counterparty) link is involved.

A very real logic problem is that when we criticize Airbnb for its high fees and its collection of user data, we forget that it is precisely such a monopoly that gives them enough incentive to use better servers, provide better after-sales services, and improve more convenient and friendly products. In the general securities economy, there is no monopoly, the source of the driving force is no more than three points, one is the appreciation of the general securities, two is reputation, three is the promotion of community. In theory, the blockchain Shared economy platform can allow early participants to share the dividends of the platform's development, making ordinary users a complex of users and shareholders. However, there are still many uncertainties in this vision.

conclusion

Undeniably, Origin Protocol on the combination of the chain and Shared economic exploration blocks, made an important discovery, maybe someday in the future, we will be able to experience the real Web3: we earn token by some private data, and use of these token pay the rent on Origin rent platform, will also be able to put his idle goods shelves, further make token. When we accumulate enough tokens, we can also run the server as a node to share staking benefits in the process of maintaining network security.

But we are still a long way from that day. The advantages of sharing economy platforms such as Airbnb and Uber do not lie in technology, but in their strong service and marketing capabilities. Moreover, they continue to attract new users through good user reputation, and maintain their dominant position in the market by virtue of the monopoly of user data. In contrast, the block chain sharing economy platform, though it eliminates third-party intermediaries and benefits both buyers and sellers, also makes arbitration, brushing and promotion more difficult.

However, in terms of blockchain projects on the market, Origin Protocol is still the leader among them. It is one of the few projects that can be truly traded and used. It also has a clear development plan and an elite team with more successful entrepreneurial experience. The Origin Protocol has no problem with project logic and is clear, but many details remain to be seen.

Twenty or thirty years ago, we would not have believed in the development of e-commerce platforms or the sharing economy. When the visions of Uber and Airbnb came out, many people wondered how many people would use other people's cars or short-term houses.

Official information channel

Origin Protocol website:https://www.originprotocol.com

Origin Protocol white paper:https://www.originprotocol.com/zh_Hans/whitepaper

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