Dr. Zhou, the founder of QuarkChain, participated in the 2019 IEEE International Conference on Decentralized Applications and Infrastructure to explain the Boson consensus
From April 6th to 8th, US Western Time, the IEEE 2019 Smart Future Technology Summit was held in Silicon Valley, USA. The summit focused on the four major areas of Internet of Things, big data, artificial intelligence and blockchain, and brought together nearly a thousand city leaders, planners, working professionals and researchers from R&D organizations around the world. QuarkChain, along with Google Cloud, IBM, University of San Jose, etc., is one of the sponsors of this conference.
IEEE-Institute of Electrical and Electronics Engineers is an international association of electronic technology and electronic engineers established on January 1, 1963. It is one of the largest professional technical organizations in the world, with 420,000 members from 175 countries. It publishes a variety of magazines, journals, and books every year, and holds at least 300 professional conferences.
On April 6, Dr. Zhou Zhou, the founder and CEO of QuarkChain, attended the meeting and gave a speech at the blockchain session. The audience included researchers from VMware, BMW, Equinix and other industrial fields, as well as representatives from the United States, Professors of top universities in Germany, Australia, Italy, the United Kingdom and other countries.
Dr. Zhou gave a speech titled "Boson Consensus: A Scalable Blockchain Sharding Consensus". In his speech, Dr. Zhou said: When we obtain multiple sub-states through sharding and change these sub-states by executing intra-shard transactions or cross-shard transactions, an important issue is how to build an efficient system to store substate and handle those transactions. There are currently two "ideal" consensuses that blockchain sharding technology can use.
Ideal consensus 1: Increase the block size on a chain, but increasing the block size will also increase the block propagation time, which means that the probability of forking will increase, resulting in a waste of hash power and further security issues.
Ideal consensus 2: multiple chains in parallel. However, this solution has the problem of hash power dilution. The boson consensus pioneered by QuarkChain enables a root chain-a two-layer blockchain network with sharding structure to store sub-states and process transactions while taking into account decentralization, security, and scalability.
The Boson Consensus is a set of algorithms based on the distribution of computing power. Its computing power adjustment mechanism allows the flexible distribution of hash computing power among shards, and thus develops a computing power multiplexing technology to protect those with insufficient computing power. Nascent shards for increased security. Relying on the Boson consensus mechanism, a root chain-sharded blockchain system structure can be realized. The root chain verifies the shards and protects transactions, and the Boson consensus distributes the computing power between the two.
In addition, Dr. Zhou focused on the incentive mechanism of BPs (block producers) and fork selection rules, and proposed the core solution: the principle of root chain priority, that is, relying on the Boson consensus to distribute computing power, so that more computing power Power is concentrated on the root chain. The root chain ensures the security of the entire network by verifying transactions. In this way, even new shards that have just been opened and have insufficient computing power can be immediately protected by the computing power of the root chain to avoid In the early days, it was easy to be attacked by computing power.
Relying on the Boson consensus, the main network of QuarkChain has realized various functions, such as: multi-native tokens, multi-consensus algorithms, multi-mining algorithms, etc. Challenging state sharding techniques. Relying on state sharding technology and innovative cluster design, nodes on a single shard of QuarkChain can have more storage space and lower resource consumption, making the entire system more efficient.
At present, the standards defined by IEEE have a great influence in the industry. Dr. Zhou's paper on the QuarkChain boson consensus has also been included by IEEE.
On the same day, as the moderator, Dr. Zhou hosted a discussion on the future of blockchain. At the seminar, Cycle and the guests talked about the future application and development of blockchain:
In the future, blockchain applications may develop around two lines. The first is to rely on smart contract technology and low-cost credit extended by extremely low marginal costs, and gradually cover more areas that require low-cost credit, and provide financial support for the development of financial technology. Provide assistance. This requires solving different problems in multiple dimensions such as real-time, high concurrency, latency, and throughput. And these QuarkChains can already provide support by relying on state sharding technology, and there will be more opportunities to play in the future.
Second, with the further penetration and sinking of blockchain technology, enterprises or industries in the fields of transaction information, logistics traceability, medical records, identity verification, etc. can rely on the traceability and non-tamperable characteristics of blockchain technology to establish and provide information Assure. In this way, the intercommunication and interoperability between various blockchain networks will also become a trend in the development of blockchains in the future. If the intercommunication of blockchains on the basis of trust can be realized, it will generate greater network effects. QuarkChain, relying on its own flexibility, can be compatible with existing public chain functions by opening different shards, and provide computing power protection for newly opened shards, and rely on the root chain-shard structure to realize the flow of information on the chain. It is another brand new solution for interoperability.
On April 7th, QuarkChain and Ethereum specially set up a blockchain training venue at the conference site to train enterprises and academic researchers who intend to enter the blockchain industry. Researchers from VMware, BMW, Equinix and other industrial fields, as well as professors from top universities in the United States, Germany, Austria, Italy, the United Kingdom and other countries, came here to study and exchange.
