Blockchain re-examination, returning to the original punk

I think the most typical and most successful case in blockchain technology is nothing more than "bitcoin". Although it is not easy to use, it can be said that it is the most stable cryptocurrency based on blockchain technology. But such stability does not include the monetary value at the financial level.

Although many people nowadays propose the application of various blockchain technologies, blockchain technology may not be as ideal as everyone thinks, and it may be able to subvert the existing financial system. However, I feel that there are too many people who wish to transplant blockchain technology to different fields in the same way as painting gourds. After studying the blockchain technology in detail, it is not difficult to find that although the blockchain technology is a major breakthrough, Such a technique has a lot of burdens and must be applied under many conditions.

I roughly classify these restrictions into two points:

First, "in the process of designing a blockchain, there must be no external information relocation to the blockchain."

So what is an external message?

For example, we relocate the information collected by many sensors, such as temperature, vibration, and cleanliness of the air, to the blockchain. At that time, we only use the blockchain as a large database.

But in fact, in addition to "can not afford such a large amount of data", the blockchain "cannot rule out whether the values ​​returned by many sensors are correct". If there are abnormal machines among many sensors, these abnormalities may be due to congenital failure of the machine, or it may be due to environmental factors leading to measurement errors. After uploading to the blockchain, it becomes a valid data, at which point we let the invalid data get the blockchain certification.

In addition to the above data generated by the sensor, there is a problem with the blockchain certification. Everyone hopes that the intelligent contract of the blockchain can solve the problem of automatic insurance claims. We hope that some internal rules of the policy can be put forward. Writing a smart contract may lead to more transparent and efficient operations.

But in fact, insurance involves personnel, and personnel involves the law. The judgment of the law may affect the judgment of the judge because of various other external factors, that is, the so-called free heart. In such a large number of circumstances, the emergence of an insurance claim is a result of a judgment that does not contain emotions or a free heart. It is not in line with real social needs.

Second, "The blockchain size limit is the biggest bottleneck of TPS."

What is the saying?

We can see that the Bitcoin blockchain size has now reached 220 GB. Maybe everyone thinks this is a small number, but assume that the blockchain has been fully loaded since the year Bitcoin was in operation. Today, with an increase of 1MB every ten minutes to the full tenth anniversary, it should exceed 525.6 GB. 525.6 GB a decade ago is a luxury. It may be normal for a 1TB, 2TB hard drive in today's society.

For me, "This is the gambling of Nakamoto and the cost of storage and computing." He is gambling on the hard disk space production process to promote the cost of the unit space is faster, or the blockchain growth The speed is relatively fast. If the blockchain grows faster, I believe that there is no hard disk in the world to store the complete blockchain, which makes the decoupling blockchain more difficult to implement.

So for me, if you want to create a new blockchain application, you must look for a low message output speed, which is low TPS, and the size of the unit message can not be too large, the smaller the better. In order to reduce the growth rate of the blockchain size by reducing the frequency and reducing the size of the unit message, the target sought at that time may be a low frequency and high unit price application scenario.

In my opinion, "legal currency" is still the best value proposition before a blockchain technology is applied outside the currency. Although Bitcoin has been proposed for ten years, integrating the system design of cryptography, network science and special data structure, it is the largest experiment to run, and the object of the experiment is the users all over the world. The onion network has the same original intention. In order to create a society with high privacy and unregulated, Nakamoto may not have thought that this will become a financial game all over the world. I have never thought that the world will have the birth of a mining pool and become centralized. Mining, I did not think that it will become a masterpiece of subversion of the world.

The vision of Bitcoin is to create a better cryptocurrency.

Everyone has heard of Bitcoin, but perhaps you don't know that this currency is derived from an organization called password punk. This organization promotes true personal privacy and makes cryptography great again.
Bitcoin is a currency that can be supervised but difficult to manage. Maybe someone has the opportunity to move forward on the onion network. This is a world that is difficult to track user IP. It is also difficult to track and create privacy and freedom. But in this most private and free place, what you see is killing and smuggling. Drugs, firearms, organ sales, sales of personal data, etc.

This inadvertently led me to reflect on the need for such high standards of privacy and freedom in this society, but after Bitcoin was created, although he was not so private, it was quite free in money, no one It is possible to manage other people's accounts in any way, which also leads to the fact that many black market transactions in the underground society are using Bitcoin as a medium for transactions and money laundering services.

Some people may say that the darkness of Bitcoin denies him; but what is the difference between the money generated by legal tender and Bitcoin? Banknotes can still be the medium of black market transactions.

So I think "how to establish a legal constraint in cryptocurrency" may be an important research topic in the next stage.

Although Bitcoin has been craved by the world, it is visible in my eyes that "it is not so perfect" and has many shortcomings, including low transaction speed, insufficient decentralization, and various black market transactions. Privacy, and even anticipation of the replacement of cryptocurrency.

There is no permanent cryptographic algorithm in the world. This is a competition between machines and algorithms. As long as the hardware progresses, the algorithm will eventually be eliminated.

I believe that bitcoin based on cryptography will only become the past history of cryptocurrency, and will usher in a new generation of cryptocurrency.