Looking at the ecological development of Ethereum and blockchain from the Devcon5 conference (Part 2)
Editor's Note: This article comes fromWanxiang Blockchain (ID: gh_1b8639a25429)Editor's Note: This article comes from
Wanxiang Blockchain (ID: gh_1b8639a25429)Looking at the ecological development of Ethereum and blockchain from the Devcon5 conference (Part 1)。
text
Looking at the ecological development of Ethereum and blockchain from the Devcon5 conference (Part 1)
Hot topics in the industry such as encryption economy, user experience, Web3, and DeFi are also key topics discussed at the Devcon5 conference. We have selected some representative viewpoints and solutions for your reference.
Let’s first take a look at V God’s views on encryption economics and cryptography.
secondary title
Vitalik Buterin: Cryptoeconomics and Cryptography
Vitalik focused on "cryptoeconomics" in his Devcon5 keynote speech, aiming to emphasize its impact and significance on the entire blockchain ecosystem.
Vitalik believes that Bitcoin uses "cryptoeconomics" to solve two main problems: weight distribution and incentive mechanism. The latter "incentive mechanism" is easy to understand; the former weight distribution means that in all BFT algorithm models, an assumption will be made on the proportion of resources held by malicious nodes to the total resources, but in a system with a high degree of decentralization , especially in the public chain system, how to define this resource? Bitcoin can be measured by computing power.
Next, Vitalik first compared cryptography and cryptoeconomics from the perspective of assumptions.
1. For cryptography, we can prove the rationality of things without some assumptions, because it is based on the rationality of mathematics.
2. Cryptoeconomics requires few assumptions about the participants to prove something. For example, ideally, assume that the attacker is able and willing to pay a capped cost for the attack. Much system design can be done based on such assumptions. Both systems can achieve decentralization/trust minimization through their respective advantages.
After that, through the comparison of "interactive computing" and "zk-SNARKs", he put forward his point of view "encryption economics can compete with encryption algorithms". Interactive calculation: Suppose there is a function whose calculation can be decomposed into many steps, and the values of the intermediate steps are all small. Committers submit a series of intermediate computations and a stake. Then there will be a challenge stage, that is, anyone can challenge a certain step in the calculation to verify the rationality of a calculation result in the middle of the function.
It can be found that this interactive computing method actually does the same thing as zk-SNARKs. The advantage of interactive computing is that it is easier to implement than zk-SNARKs and more efficient than SNARKs, but SNARKs does not need to challenge this process.
With the rapid development of blockchain technology, "user experience" is being mentioned and discussed more and more, and the effect of user experience directly affects the competitiveness of products in the market. Enabling users to obtain a good experience is the foundation for the blockchain to reach the masses. The topics related to user experience in the Devcon conference mainly include the following.
user experience
1、State of Ethereum
secondary title
user experience
Matthew Tan, CEO of the Etherscan project, made statistics on user information in the Ethereum ecosystem based on the data on Ethereum, such as the distribution of user geographical location, user age distribution, gender distribution, browser type used, device used, and operating system, etc. .
According to its statistical analysis, it is pointed out that the current top5 user pain points are:
1) Request a refund or cancel a transaction
2) Transaction/balance information cannot be reflected immediately
3) What to do after the transaction fails
2、The Bounties Network and Rimble
4) User is scammed
5) How to withdraw the token and store it in the bank account
The Bounties Network and Rimble project is mainly responsible for researching user experience problems that hinder dApp application and usability, and for user experience problems, creative and effective solutions are generated through the use of bounty incentives. Rimble will validate and iterate on the best solutions, eventually integrating them into open source resources, making it easier for developers to build dApps with wider availability.
Each bounty project link will contain the following:
1) Introduction to the background of the problem
2) Challenges: identify clear needs to be addressed
3) Submission Requirements: Minimum Submission Requirements and Ideal Submission Requirements
3、Ethical Design Practices for Web3
4) Evaluation criteria: give detailed project evaluation criteria"Ethical Design Practices for Web3 "5) Reward amount: the reward amount corresponding to the completion of the project
The topic of Omna Toshniwal & Jenny Pollack's speech is
, the content of his speech is: describe how the web is destroying user trust today, specifically, lack of user control, lack of choice, unethical data sharing and dark mode of website use; web3 attempts to solve some of these problems, but the speech The author thinks that it is not mature enough, so he shares some practical design practices.
In many best practices and the pyramid model of web2 product design from bottom to top: functionality, reliability, usability, entertainment, but the speaker believes that respect for human rights should be the core of a good product design, so it needs to be in Add ethics to the bottom of the product design pyramid.
Regarding the ethical design of web3 products, the following suggestions are given:
1) Design a permission control model that users can understand
2) Permissions should be easy to manage and revocable
4、ENS(Ethereum Name Service)
3) The steps to be executed automatically need to ask the user
4) Users need to be safe and reliable
The readability of names is an important part of user experience, and simple, readable names can provide convenience to users. ENS focuses on solving the readability problem in Ethereum.
ENS provides a secure and decentralized way to use simple, readable names to handle resources inside and outside the blockchain. Its main job is to map readable names to machine-readable identifiers, such as Ethereum address, hash value and metadata.
The goals of ENS are similar to DNS, the Internet domain name service, but its architecture is quite different due to the functions and constraints provided by the Ethereum blockchain. Like DNS, ENS operates on a dot-separated, hierarchical name system called domains, with domain owners having full control over subdomains.
The owner of the domain can be an external account (user) or a smart contract. A registrar is simply a smart contract that owns a domain and distributes subdomains of that domain to users who follow some rules defined in the contract.
Domain owners can:
Set resolver and TTL for domain
Transfer ownership of domain
The resolver is responsible for the actual process of converting names into addresses. Each record type such as Ethereum address, hash value, etc. defines one or more methods, and the resolver must implement these methods to provide resolution of such records.
DeFi
Resolving a name in ENS requires two steps: asking the registry which resolver is responsible for that name, and then asking that resolver for the answer to the query.
DeFi is also another buzzword in the industry this year, it is the abbreviation of "Decentralized Finance", referring to "decentralized finance". In the world of blockchain, this concept refers to various financial applications developed in an open decentralized network. Its goal is to establish a multi-level financial system based on blockchain technology and cryptocurrency. Foundation, re-create and improve the existing financial system. The DeFi industry covers a wide range of fields, including payment, stable currency, lending, decentralized exchanges, derivatives, etc. A number of valuable projects have emerged in the DeFi field, such as MakerDAO, Compound, InstaDApp, Oasis App, Wirex, crypto. com, monolith, etc. Among them, MakerDao is currently the most well-known project in the DeFi field, and is generally regarded as "the project that started the DeFi movement."
Oracle
In Devcon5, Rune Christensen, the founder of MakerDAO, introduced the next development direction of DeFi in his speech. At the same time, he announced that the multi-collateral Dai system (MCD) will be officially launched on November 18, and emphasized the impact of decentralized governance on the Maker protocol. The importance of this launch. Multi-collateral Dai will bring many new features to the Maker protocol, including the long-awaited Dai deposit rate (DSR) and more collateral types.
secondary title
The blockchain oracle (Oracle) is an implementation mechanism for the blockchain to interact with the outside world. It allows deterministic smart contracts to respond to the uncertain external world. It is an effective way for smart contracts to interact with the outside world, and it is also an interface for blockchains to interact with the real world.
Oracle classification:
1. The data provided by the trusted center provides the external data required for the operation of the smart contract through a third-party enterprise, and transmits the data to the smart contract.
Major projects: Oraclize, Town Crier.
2. Data provided by distributed nodes
The distributed oracle node/oracle service provider obtains data from decentralized data sources, aggregates the data through algorithms, and returns the results to the smart contract.
Major projects: ChainLink, Augur, Witnet, DOS Network.
3. Data provided by trusted alliance
The nodes in the composed decentralized oracle network are designated, and the trust in the nodes is largely derived from the stakeholder identity of the nodes themselves and the institutional reputation of the nodes themselves.
