exist

Produced | Vernacular Blockchain (ID: hellobtc)

exist"Multi-chain Universe Disassembly Part 1"In the first part, we mainly talk about Bitcoin, Ethereum and various Layer2s. In the second part and the second part, we will focus on the new public chains that have emerged in the past two years.

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01 

Polkadot

The reason why Polkadot is put first is because of the recentPolkadot AuctionIn addition to the fiery heat, more importantlyGavin wood, the man who made Ethereum with V God.

EVM compatibleEVM compatibleAll kinds of Defi Apps are no different from other Layer1 and Layer2 chains.

However, this is not actually Polkadot. Cross-chain is a selling point, but after the Ethereum 2.0 sharding is completed, it is also equivalent to "cross-shard (chain)", becauseThe parachain itself is just another form of expression of sharding to the extreme.

So, what is the essence that fundamentally distinguishes Polkadot from Ethereum or other public chains?

Polkadot is a more abstract "metachain" than the bottom layer of Ethereum. In other words, you can build a smart contract chain similar to Ethereum on Polkadot, but not the other way around.

For example, you can build a chain on Polkadot, where transactions do not require any Gas, or multiple Tokens can be used as Gas, or there is no account model, or even not a smart contract chain at all.

For another example, all transactions on Ethereum must be "externally triggered". On Polkadot, transactions can be automatically triggered by event signals such as "time, price, and smart contract status changes".

However, although the bottom layer is more abstract and the technical architecture is more advanced, it is undeniable that Ethereum is still the largest public chain ecosystem in the world, not one of them.

Polkadot wants to overtake in a corner, the biggest winner is:first level title

02 
Cosmos

If you really understand the above things about Polkadot, you will know that it is completely nonsensical to put Polkadot and Cosmos together as "cross-chain duo".

Polkadot is very similar to ETH2.0, except that the technology stack is more abstract and lower-level. Cosmos does not have such a bottom layer, but it is actually the one that really does "cross-chain".

The IBC cross-chain protocol can be regarded as the TCP/IP protocol in the Internet era. However, its development is destined not to be as smooth as TCP/IP, because the blockchain era is not only about technology, but also the ecology, capital, and economic models behind it...

This has also led to chains developed with the Cosmos SDK, such as Luna, whose market value has surpassed Cosmos itself.At the same time, the success of Luna, in addition to making Cosmos feel "proud" spiritually, has nothing to do with Cosmos in terms of Token value or security.

This is why the previousThe "shared security" model on Polkadot's cross-chain is often combined with Cosmos' "separate governance" sovereign chain modelThe reason for the comparison.

Cosmos is completely on the opposite path of Ethereum and Polkadot, achieving practical interoperability without including a shared security layer. This sovereign chain has its own advantages, such as scalability, MEV mitigation, developer experience, and more.Naturally, it also has its own disadvantages, such as security bootstrapping, interoperability of synchronous calls, and so on.

With the success of Luna, the rise of application chains such as Osmosis and Sifchain, and the testing of the Cronos test chain of Crypto.com, the Cosmos ecology will usher in a big explosion in the foreseeable future, which is completely opposite to Ethereum and Polkadot. The route can't help but make people look forward to which direction is the right choice.

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03 
Solana

In 2021, there is no one who is the most beautiful guy on the street in the public chain. What exploded was not only a hundred times the currency price, but also a huge ecosystem.

When other public chains have "kneeled" in front of Ethereum, vowed to be compatible with EVM, and become friends with Ethereum, Solana stubbornly raised her head: "I won't, even if I don't want to be a killer, I won't be your friend !"

Then he really did it! Of course, you can say that there are several major capital boosts behind it, and the pull of explosive heads.But it cannot be denied that the Solana ecosystem has continued to prosper this year, and the number of developers has soared.

Solana's ultra-high TPS is also extremely suitable for developing its expertise in the field of Defi and Gamfi. What's more valuable is that Solana's POH consensus mechanism does not involve sharding and layering, so "combinability" will not be sacrificed at all.

At the same time, the improvement of TPS is bound to Moore's Law, thus providing a kind of "predictability" of TPS expansion, which is of great help in attracting outside developers, capital and users.

It is very interesting that the Solana community has a completely different atmosphere from all other public chain communities. On Twi, you can often see the "interaction" between ETH diehards and Solana diehards, which is in harmony with Near, Avalanche, Fantom communities and Ethereum communities , the feeling of joy and harmony is completely different, which may also be the price of not being stubborn as ETH friends.

However, recently, the Neon project on Solana has raised 40 million US dollars to be EVM compatible.

However, Solana and several other popular public chains are also facing the same problem, and they have not yet experienced the test of time, especially the bear market. The downtime of more than ten hours a while ago has made people dislike this kind of high TPS, new blockchain The stability and degree of decentralization of the technology public chain have raised certain doubts.

Judging from various current perspectives, it is difficult for Solana to replicate the sluggish situation after EOS reached the top, and the probability of continued prosperity will be higher.

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04 
Near

Near's slogan among the people has always been "ETH2.0". The reason is that the ultimate expansion solution of ETH2.0 - sharding, was made in advance by Near.

Of course, sharding is not a panacea, but in all expansion schemes,The most "balanced" and most cost-effective solution for decentralization and security with the least sacrifice and the greatest performance improvement(Solana's POH is also one of the very powerful challengers of this solution), coupled with the rollup expansion plan in the last and mid-term, the prospect of ETH2.0 is infinitely bright, but the premise is that you can afford it.

Now several rollups of the OP have been launched, and there is no surprise for the rollup of the ZK series. 2022 will be the stage for their performances. It is still early to split, so let’s watch Near’s performance first.

Just a few days ago, Near released a simplified version of the sharding "Yeying Protocol", which officially took the first step of "infinite expansion". After reading the white paper of the Yeying Protocol, a friend who knows technology posted a Call it a "magnificent".

At the same time, the Aurora protocol was also launched a few days ago, realizing the function of the EVM compatible chain on Near. Since then, Near has become the "best testing ground" for the ultimate sharding of ETH2.0.

For Near, the most challenging scenario may appear in a few years, when the sharding of ETH2. How to deal with yourself?

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05 
Avalanche

Avalanche is a chain that many people do not understand, because compared to other single-chain structures, its structure is much more complicated, and it is not as clear as the modular layering of Ethereum 2.0 Layer1+sharding+Rollup Layer2 structure.

Avalanche's recent consensus 3.0 is a three-chain structure platform of X, P, and C.

• X chain (transaction chain): used to create and trade assets on the chain, with anonymous function.

• P chain (platform chain): used to coordinate verification nodes, and create and track subnets, use P chain when pledging.

• C chain (contract chain): This chain is used to create and execute EVM smart contracts and build DApps.

It seems complicated, but in fact, what everyone comes into contact with is basically the C chain, because several leading projects, including DEX's Pangolin, TraderJoe, Benqi who borrowed dai, and AAVE and Curve, which opened branches in the past, all run on this chain superior.

To simplify it further, the growth of TVL and ecology is no different from that of Matic and BSC. They are all EVM compatible chains and several new DEXs. They use the initial liquidity mining of these infrastructures to attract TVL.

From a technical point of view, Avalanche's most direct competitor is actually Polkadot.Because Polkadot has a parallel chain, and Avalanche's P-chain can create subnets, the two have the same purpose. Also because of the similarity and competition between the two, Professor Gun, the founder of Avalanche, and Dr. Gavin, the founder of Polkadot, sprayed each other in the air.

Professor Gun said that Polkadot is just a "closed membership service center" because the number of card slots is limited, while Avalanche's subnets can be created infinitely.

Gavin then posted: "Avalanche's so-called 'subnet security' is completely different from Polkadot's shared security. Avalanche is a centralized Cosmos, and the security of each chain in the entire system is greatly improved. Uneven, the security of the network is equivalent to the chain with the worst security, which is completely different from Polkadot’s shared security, so how can we talk about the comparison in performance.”

Both of them are technical masters, which one do you believe? As a result, the communities of the two factions have a somewhat "incompatible" situation.

All in all, Avalanche is a public chain with a bit of "mystery". There are very few people around who can really explain the technical characteristics of Avalanche. In addition, Professor Gun is neither optimistic about ETH2.0 sharding nor Polkadot parachain, and insists on The avalanche consensus is the way out, leading to its "alternative" especially above Solana.

But because the C chain has achieved EVM compatibility from the beginning, everyone feels that it is not so inconsistent. As for the end result, I am afraid only time will tell us.

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06 
Fantom

The most famous public chains this year, or the most fierce price rises, all have a totem figure behind them.

ETH has V God, Polkadot has Gavin wood, Solana has SBF, Avalanche has Professor Gun, and Fantom is AC, the god of Defi.In contrast, the figures behind other public chains such as Near and Cosmos are not so dazzling, and the currency price and ecological performance are naturally not as good as these public chains of the "big boss platform".

From 312 last year to mid-November this year, Fantom can be regarded as the most dazzling star in the public chain. However, the ecology has been sluggish. Recently, Rarity, developed by AC based on Loot, became popular and brought in a large number of TVLs. However, there has been no movement these days.

The biggest technical feature of Fantom is DAG (directed acyclic graph technology). This technology will feel real and fake after reading the introduction, which is too powerful. "The more nodes join, the faster the speed, and the scalability becomes infinite",This is directly inverse to the inverse relationship of decentralization/TPS in everyone's impression. The more decentralized, the faster the speed?

This is also where Fantom and the Avalanche protocol are somewhat similar, and they are a bit confusing. It is also rare to see people who can fully explain the advantages and disadvantages of Fantom's consensus mechanism and technology, and many people also hold a certain skepticism about "the more nodes join, the faster the speed, and the scalability becomes infinite". , after all, if this is the case, what sharding and Rollup are still tossing.

But anyway,AC was the chief architect of Fantom, the current technical consultant, so technically Fantom must still be a bit dry, and the current experience on Fantom is also good. There is still a great opportunity in the window period before ETH2.0 takes shape.

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07 
summary

I wanted to finish writing an article, but found that there are too many new public chains, so I can only split the original plan into three articles. It can be seen that the explosion of the multi-chain universe may be the future A situation that is inevitable for 1-2 years.