MOL Moore Chain Academy - blockchain core technology has a breakthrough, blockchain is gradually returning to rational

MOL Moore Chain School: The past 2018 is a year of rapid rise in the blockchain industry. The influx of capital from all walks of life continues, and various blueprints can not be depicted. As well as various dreams are raging... In 2018, the blockchain industry fluctuated drastically, and bitcoin prices fell sharply. From an international perspective, the valuation of blockchain projects continued to decline, and some new changes were made in the industry.

Bitcoin prices have fallen by nearly 80%, and mining costs have continued to fall.

The news of the decline in bitcoin prices has accompanied us through the entire 2018. Coinbase data shows that on January 1, 2019, the closing price of Bitcoin was $3,804, down 74.6% from a year ago. The highest price for Bitcoin in 2018 was $16,666 and the lowest price was $3,179. On December 17, 2017, Bitcoin hit an all-time high of $19,666. However, a year later, bitcoin prices have fallen by more than 80%. Since mid-November 2018, Bitcoin has repeatedly refreshed its minimum level, falling more than 30% in half a month, and driving the cryptocurrency to collectively fall. As more and more people enter the industry as the price of the currency soars, they face competition and risks. At the same time, other virtual currencies have a hard time to live. In 2018, there were more than 800 types of cryptocurrencies in the world.

Five departments jointly prevent illegal fundraising in the name of “virtual currency” and “blockchain”

As early as the end of 2017, Mo Hailin MOL founder Qian Haitao said: "Any exaggeration of the range of available blockchain technology is a deceptive consumer behavior."

In August 2018, the China Insurance Regulatory Commission, the Central Network Information Office, the Ministry of Public Security, the People's Bank of China, and the General Administration of Market Supervision jointly issued the “Prompt Tips for Preventing Illegal Fund Raising in the Name of “Virtual Currency” and “Blockchain”, which states that Some lawless elements use the banner of “financial innovation” and “blockchain” to absorb funds through the issuance of so-called “virtual currency”, “virtual assets” and “digital assets”, infringing on the legitimate rights and interests of the public. Such activities are not really based on blockchain technology, but rather the practice of speculating blockchain concepts for illegal fundraising, pyramid schemes, and fraud. The main features are as follows:

First, network and cross-borderization are obvious.
Second, deceptive, seductive, and concealed.

Using the concept of hotspots to speculate, to create a wide variety of "high on the" theory, and some also use the celebrity V "platform" propaganda, airdrop "candy" and other temptations, declared that "the value of the currency only rises and falls" "the investment cycle is short, High returns and low risk, with strong deception. In practice, the criminals illegally profited from the so-called virtual currency price movements, setting profit and cash withdrawal thresholds. In addition, some lawless elements also issue tokens in the name of ICO, IFO, IEO, etc., or use the IMO method to carry out virtual currency speculation under the banner of the sharing economy, which is highly concealed and deceptive.

Third, there are a variety of illegal risks.

Such activities take "financial innovation" as the gimmick. In essence, the Ponzi scheme is "borrowing new and old", and the operation of funds is difficult to maintain for a long time. The general public should be rational about the blockchain, do not blindly believe in the promise of smallpox, establish a correct monetary concept and investment philosophy, and effectively raise the awareness of risk; and actively report the violations of the law to the relevant departments.

Since 2018, from the central government to the local authorities, the regulatory authorities have cracked down on the ICO, prompting risks, regulating market order, and making unprecedented efforts.

Since last year, the regulatory authorities have made a heavy blow to regulate the behavior of the “frozen chain” in the capital market, severely punish the ICO, and crack down on the blockchain of disguised coins from the media. From the central to the local, we set off a climax to prevent illegal fund-raising in the name of “blockchain” and continue to “detoxify and deplete” the blockchain.

The blockchain after slimming is gradually returning to rationality. The currency circle is sluggish, and the market begins to re-examine the value and significance of the encrypted digital currency represented by Bitcoin. More and more companies are turning to the heart. Technology application development; talent costs also squeeze out the "bubble" and return to the normal level of the same industry.

The key technology of the blockchain core has a breakthrough

“Technology is still immature, and the TPS in the actual operating environment is too low!” We often hear about the evaluation of blockchain technology. What progress has been made in the resolution of key technologies in 2018?

Qian Haitao, founder of Moore Chain MOL, proposed the evolution path from blockchain to distributed accounting technology and the connotation and relationship of related concepts. Combined with the domestic and international standardization results, based on the development and evolution characteristics of the blockchain system architecture, the key technologies of other blockchain cores such as cross-chain and fragmentation technology, security and privacy protection have made great progress.

WASM: WASM is widely supported to perform efficient compilation of targets. The public chain represented by MOL began to support the WASM contract. Therefore, a variety of excellent languages ​​can be used to write contracts.

Privacy protection calculation: In order to achieve data security sharing, complex cryptography techniques such as verifiable computing (VC), multi-party secure computing (MPC), and homomorphic encryption (HE) are strongly promoted and implemented.

Consensus: DAG Consensus Innovation, Moore (MOL) uses subversive directed acyclic graph (DAG) and blockless (Blockless) design to confirm transactions as fast as 50 milliseconds; its highly scalable concurrency is unlimited (unlimited) The performance and transaction-free processing fees make Moore (million processing speed per second) naturally become the first choice for distributed economy, such as micropayment, lightning payment, high-frequency payment, games, and community.

MOL: The Moore team's expansion plan has a relatively certain design and has begun to be implemented.

Moore cross-chain: Cross-chain implementation is nearing completion and is expected to be launched in 2019.

In the words of Qian Haitao, the founder of Moore Chain MOL: "The blockchain should make the Internet a genius, an open network of merits. Based on the atomic physics world, the government maintains order, and reasonable humans have proliferated. Living infrastructure, real estate, automobiles and other real estate and the real economy have their own laws, and it is not necessarily necessary to monetize their numbers. We believe that any exaggeration of the scope of technology available is a deceptive behavior. So Bitcoin and Moore are all focused on digital assets that most require blockchain technology."

Finally, I shared a paragraph from Mo Hailin’s founder, Qian Haitao: “I firmly believe that cryptocurrencies will change the world, replace the stock market, most currencies, and pay for machine-to-machine, Internet of Things, streaming media, and forecasting the market. Power, governance systems, voting systems, and even everything on the Internet. Having said that, cryptocurrencies still have a long way to go, and most of these areas are still at a very early stage."