Conflux Shangshu: How does Conflux, a high-performance public chain, achieve "Great Qin and East Out" | 2020 FAT Awards Ceremony

秦晓峰

Odaily资深作者

@QinXiaofeng888

2021-01-08 13:36 (UTC+8)

This article is about 4795 words, reading the full article takes about 7 minutes

Can Conflux compete with Ethereum?

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Can Conflux compete with Ethereum?

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Editor | Hao Fangzhou

Produced | Odaily

Yesterday, the "Value Era Industry Summit Forum and 2020FAT Awards Ceremony" was held in Beijing.

Conflux Business Technology Director & Ecosystem Director Shang Shu attended the event and gave a keynote speech.

Shangshu believes that every change in the blockchain is a change in the form of fundraising: the ICO in 2017 was very rough, and the project party was almost unconstrained; in 2018 and 2019, IEO appeared, and the exchange, as the distribution body, imposed rules and restrictions on the project , adding some games; liquidity mining in 2020, the funds are directly put into the public pool, more transparent and fair, it is an excellent game relationship for everyone; this year DAO may have a better game Relationships, angel rounds, private placement rounds, and public placement rounds can all take place on the blockchain. "Conflux is a public chain with excellent liquidity, and we have the ability to carry all the above proposals, transactions and game relationships."

The following is the content of the speech, organized by Odaily:

This year, BTC has risen to $37,000, and all long-termists have ushered in relatively large returns this year. If you miss BTC and ETH, it is best not to miss another long-term public chain, Conflux.

The topic of my speech today is "Conflux Going East". Recently, there is a very popular TV series called "Da Qin Fu", which keeps mentioning that Da Qin is going to come out in the east. Why do I compare Da Qin with Conflux?

First look at a set of data. After the DeFi boom this year, the number of independent addresses on the chain of Ethereum reached 130 million. What is the concept of 130 million? TRON has 18 million independent addresses, Polkadot has 60,000, Conflux, which has been online for two months, has 150,000, and Ethereum adds 150,000 independent addresses a day. In the public chain arena of Overlord Huansi, as Conflux, which has just been launched for two months, we are still a rookie. For us, how to compete with other ecosystems that are already very mature is similar to the situation that the weak Qin State faced when it unified the world.

So, today I will talk about Conflux from a historical perspective: how do we plan for 2021, how do we think, and how do we compete with mature public chains.

secondary title

political reform

The same is true for us. For any new public chain, if we do not follow a path that is different from other public chains, we basically have no way to compete with mature public chains. Therefore, the first step of Conflux is reform.

For the entire blockchain industry, "reform", the hottest word we see is DAO.

In Conflux, we have two tokens: FC+CFX.

We didn't have our own tokens before launching the mainnet at the end of October, so we issued our own token called FC. The FC currency is amazing. There is no founding team, no shareholder share, and no foundation share. All currency distribution is obtained by doing tasks. The total amount of FC is 21 million, and we have sent out more than 10 million. Each of these more than ten million coins represents a contribution to Conflux by users of the Conflux community. The ecology of FC is an ecology with strong autonomy.

In the FC ecology, we have gradually evolved the technical committee, general committee, acceptance committee, and various processes of a project from incubation to final launch. These processes are DAO. This part will gradually transform into a fully decentralized DAO. In this scenario of community autonomy, if you have any ideas in the community, you come to FC’s DAO, and FC will invest in you. After you make it, everyone will become your initial users. This sounds a bit like DAO VC.

The second token is the mainnet token CFX. We will have our own foundation Grants, and next year Grants will make great efforts. How are they (FC and CFX) related? We added the scene of FC liquidity mining and mining CFX. If you don't want to replace FC immediately, you can deposit it in the mining pool and get 4% of the CFX coin every year.

We take great care of the ecology of FC, and we hope that it will grow into a prototype of complete community autonomy. There may be different voices in any community, and each voice represents a development direction. We hope that the community can find its own direction like an octopus. After a breakthrough is made in a certain direction, the resources of the foundation will push the project to develop in that direction, so that the community can welcome external resources with a more open attitude.

Now that there are two organizations, one foundation and one FC community. The problem that will exist in any community is controversy. DAO is a very good tool for gaming. We have also arranged two DAO voting mechanisms for the two tokens: FC votes directly to Stampers; CFX also has such a mechanism Governance, in In this mechanism, if you vote on any proposal, this vote may mean that this resolution will have an impact on the ecology in the next six months or a year. The voting rights are linked to everyone’s future lock-up period. You The longer the future lock-up period, the higher your decision-making power will be.

secondary title

Lianheng

The next step, what we have to do is "Lianheng", and Lianheng's plan is to cross-chain.

At present, all assets in BTC and Ethereum can come to Conflux freely, and can also go back freely. But recently we have heard a very strong voice - there are many users in our community who hope that we can reverse FC and CFX back to the ether, and they want to go there to expand the Conflux consensus. We are preparing to do this. Lianheng is no longer a simple Lianheng. It has become "commercial", and there will be a trade deficit. We crossed into Conflux assets from Ethereum, and then crossed back from Conflux assets to Ethereum. We have now completed one-way cross-chain and are doing reverse cross-chain.

secondary title

cannibalize

The next step after "Lianheng" is "cannibalization". In fact, Lianheng has become a trade. After the trade, everyone is robbing each other's assets. This year, before and after the launch of the mainnet, we completed the world's first transfer of a huge amount of retail assets from Ethereum to another public chain. This was done by Monnswap. They locked a maximum of 700 million US dollars in funds on Ethereum, and finally cross-chained 15 million funds to conflux. These users are mainly overseas, bringing 25 kinds of assets, including In the case of LP, there are a total of 49 cross-chain assets, which is a very successful case.

We found that after these assets came in, they did not flow out immediately, and they were still increasing. Many of these users originally interacted and did liquidity mining on Ethereum, but it is difficult to achieve inclusive finance (high handling fees) when doing DeFi on Ethereum. Now they can use the free transaction function on Conflux, and are willing to inject more funds for this function.

secondary title

recharge

The last part we call "reserve".

In the first half of 2021, our main goal is to maintain our infrastructure, which includes many categories, including DAO, OTC, including some game-related NFT infrastructure, and some random lottery infrastructure, and even Includes some standard libraries for liquidity mining...

We hope to be fully prepared for the large-scale ecological construction in the second half of 2021. We support Solidity, and all smart contract development on Ethereum can be migrated to Conflux very smoothly. We very much believe that this is a huge trend.

I don't know if you have done anything like airdrops or centralized coin issuance on Ethereum. I have a piece of data here. If we do Ethereum airdrops to 2,000 people through a batch distribution mechanism, the cost of Ethereum consumed by 2,000 people is about four Ethereum, which is extremely expensive. High.

If the user scale of our blockchain expands from the current million to tens of millions, it will be very difficult to airdrop 10,000 users. If it is airdropped to 10,000 people, I believe that in the eyes of any blockchain project, it will be a high cost. If the blockchain is a value Internet, for long-tail projects, the cost of completing such airdrops and distribution will be higher. We firmly believe that the market should demand lower cost solutions.

Recently, the Layer 2 expansion plan has attracted everyone's attention, including Loopring's recent price surge. At the beginning of this year, V God also issued an article introducing the expansion plan Rollup. Before Ethereum 2.0 is officially available, Rollup is an intermediate solution, but in fact, Rollup is not as simple as everyone thinks.

Now there are two mainstream ways of Rollup, ZK Rollup and Op Rollup. OP Rollup has no way to guarantee that all Layer 2 information is safe and accurate after it is transmitted to Layer 1. It needs a publicity stage in the middle, and someone needs to submit an error proof in the middle. If no one submits an error proof for a period of time, the data can be authenticated. Therefore, it is actually very difficult for OP Rollup to achieve high-frequency and fast interaction.

ZK Rollup guarantees that the information of Layer 2 is accurate after it is transmitted to Layer 1, but its infrastructure can only complete simple operations such as Transer. If it involves complex application scenarios, such as options and contracts, not only Transer is involved, there are a lot of calculations to be done, which cannot be realized through ZK Rollup under current conditions. Even if it can be realized, the calculation cost in the middle is very high, and for a R&D team, their technical requirements are higher, and GPU-related optimization technology is needed to do a substantial acceleration in the middle.

Therefore, Rollup is actually not easy to bring huge changes to the industry in a short period of time.

On the other hand, Conflux, after completing the intercrossing of various chains, we are the natural Layer 2 solution for other chains. In this Layer2 solution, one of the things we are doing now is to enable one-click interaction between the contracts on both sides. We have now completed the single interaction, and the reverse interaction is in the process of research and development. Once this thing is done, we should be ahead of Polkadot.

There is a big problem with Polkadot's solution. If two slots want to interact, they need to interact through the middle Relaychain. How long is the confirmation time of Relaychain? It is one hour, it depends on the chain with the slowest transaction speed in all slots, this operability is very weak.

To sum up, we think that the most suitable solution for long-tail projects to expand their user scale, user volume, and volume should be to choose a Layer 2 chain that supports Solidity, is fast enough, and is free. The chains of the three major exchanges are in this form, but there are also doubts about the decentralization of the chains of the three major exchanges.

Therefore, we are very confident that after completing all the infrastructure in the first half of the year, our ecology will usher in a vigorous development in the second half of the year. This is why we say that Conflux is a long-term approach, because we have enough technology to support all technology occurrences. And our large fundraising positions are BTC and Ether, so we are not very short of money. From this perspective, we should be able to persist until the entire ecology develops completely. After the "recharge" is over, whether we can compete with Ethereum depends on the capabilities of our entire ecology.

I will stop here today, thank you all.

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