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Blockchain World Chronicle | Dialogue with RuffChain: How to build a new generation of Internet of Things



How to build the next generation of Internet of Things? What innovations does the blockchain-based RuffChain+DeFi+NFT model bring?

At 14:00 on April 20th, Jinse Finance held a new issue of "Blockchain · World Chronicle", and invited Roy Li, the founder of RuffChain & chain of things.

During the live broadcast, Roy introduced the economic model and development advantages of Ruffchain. He said that the Ruffchain economic model is based on the transaction and contract fuel of the main network, and the charge is very low, but in the future we will use it in the chain of value, value storage, and digitization, that is, we need to use Ruff token to make assets become Can be managed and traded on the chain, especially combined with NFT.

The following are the live broadcast details:

Construction of the blockchain computing power platform started in Beijing: The advanced blockchain computing power platform has started construction in the North District of Zhongguancun Science City. After the platform is completed, it can support the operation of a super-large-scale blockchain network with more than 1 million nodes and a transaction peak value exceeding 1 million transactions per second. ( [2021/6/10 23:27:08]

Wang Yukun: RuffChain is a project at the beginning of 2018. After a round of bulls and bears, RuffChain remains in the industry and keeps moving forward. What has RuffChain done in recent years? After a round of bulls and bears, what changes have taken place?

Roy Li: Ruff has been very rough in the past three years. The main reason is that after going through the entire bear market, the business model is not sustainable enough and the cost is relatively high. But the whole team has always been very confident, mainly because we believe in the future of the blockchain. Last year, there was a relatively big improvement, mainly because of the maturity of the basic ecology of the industry. For example, now there are more IoT needs (mines, asset management), some blockchain projects cooperate with our basic chain, and Defi has become a killer application, and NFT also has a broad future.

Nantian Information: The company is exploring the implementation of blockchain applications in real estate, reinsurance, banking and other fields: On September 18, Nantian Information said in answer to investors' questions that the company has developed the Nantian Blockchain Basic Service Application Platform (NBaaS), It can help blockchain business development users to quickly build a stable and safe production-level blockchain environment, and realize the rapid uploading of business data. Currently, the company is exploring the implementation of blockchain applications in real estate, reinsurance, banking and other fields. Thank you for your attention and support to the company. (Straight Flush) [2020/9/18]

Generally speaking, it is that Defi has given many old projects that are still persisting a commercial closed loop, and NFT has infinitely magnified the limitations of the scene. It can be said that this bull market brings more hope than just currency prices.

Wang Yukun: Our theme today is IoT+DeFi+NFT. Can you tell us how to combine these three concepts? How did Ruff implement these concepts?

Roy Li: Defi is decentralized finance. We believe that Defi will be the future, because the biggest challenge of finance itself is the issue of trust, and it is difficult to solve this trust issue in a centralized way. Decentralization can be very Efficient, we have seen projects like compound, mortgage lending and lending are very fast, I believe that Defi will bring huge changes to finance, and it will come soon.

Voice | Pan Helin: The industry will accelerate the application and implementation of blockchain in the main battlefield of economic and social development: On February 18, Pan Helin, executive dean of the Digital Economy Research Institute of Zhongnan University of Economics and Law, published an article "War "Epidemic" may accelerate the development of the digital economy". The article stated that the online process of some industries has already started, but the progress is relatively slow and not thorough enough. The epidemic made people have to accelerate the implementation of online, and made people re-examine the possibility of digital upgrading of related industries. In addition, digital technology has also shown great power in the fight against the epidemic. In general, people have seen that many traditional industries can overcome spatial barriers to provide services to more consumers through digitalization, and they have also seen that digital technology has broad application prospects. Taking this as an opportunity, the industry will accelerate the application and implementation of digital technologies such as big data, artificial intelligence, blockchain, cloud computing, and the Internet of Things in the main battlefield of economic and social development, and various application scenarios will emerge in endlessly. [2020/2/18]

NFT, on the other hand, expands the Defi scene infinitely. Imagine that Defi can only mortgage homogeneous assets at present, but if it is the painting that has recently been auctioned at a sky-high price, can it be mortgaged? IoT is the starting point for putting value on the chain. Maybe in the near future, when you invest in a project, such as a charging pile or a rental apartment, the settlement and pledge methods will use the technology of IOT + NFT + Defi, without complicated documents and operating procedures.

Voice | Xu Mingxing: Third-party guarantee is the optimal solution under the limitation of payment technology at that time, and blockchain technology can solve cross-border payment problems: According to, Xu Mingxing said that the traditional payment system cannot achieve decentralization In the traditional payment system, a third-party institution is used as a guarantee to guarantee the transaction credit of both parties is the optimal solution under the technical constraints at that time, but the existence of cross-border payment intermediary banks also leads to high cross-border payment costs And the root cause of the low efficiency. Solving cross-border payments based on blockchain technology will eliminate any third-party intermediary links, achieve transaction settlement, and do not require any third party to act as a counterparty to adjust and reconcile changes in the accounts of both parties, while reducing transaction costs. , can complete the payment very quickly. [2019/7/26]

Wang Yukun: As far as I know, you recently established the NFT catcher plan with several public chain projects. As the initiator, can you introduce the NFT catcher plan? What will Ruff Chain provide for this plan?

Roy Li: The initiators of this catcher plan are all old public chain projects. These projects are all due to the difficulty of creating an ecology. The technology has landed but the application is very scarce, so for us, the NFT track It is necessary to work together to capture opportunities. A killer app like Flow that passes an NBA Top Shot becomes a successful public chain. We also feel that the opportunity for NFT has just begun, and there may be many such opportunities, so we chatted a few times and jointly initiated this project. We are most concerned about artworks and markets other than games, such as NFT20, NFTFI, etc. Kinds of technical ones like immutable will also look at it.

Voice | Li Lizhong: Blockchain technology can solve the pain points of data applications: According to China News Network, at the Blockchain Information Security Seminar Salon held in Chongqing on the 13th, Deputy Secretary-General of China Informatization Collaborative Innovation Committee, China Electronics Co., Ltd. Li Lizhong, a member of the Computer Forensics Expert Committee of the society, said that the pain points of data application include the inability to guarantee the authenticity of data, the unauthorized transfer violates the privacy protection law, and the value of data cannot be effectively measured. He analyzed that blockchain technology can solve the above pain points one by one. First of all, the blockchain technology converts the real space into data, continuously performs non-tamperable and accurate mapping in the cyberspace, and completes the solidification of data fingerprints, that is, solves the problem of data authenticity. Secondly, the data is desensitized and authorized to be used through the blockchain, which solves the problem of privacy protection. Third, the blockchain directly converts digitized human behavior into value, and the market measures the value and solves the problem of data value measurement. [2018/12/14]

Wang Yukun: What is the difference between NFT in IoT applications and the NFT we are currently aware of? What is the potential for the subsequent explosion of IoT NFT?

Roy Li: NFT is currently purely online. If you want to put offline value on the chain, you must need the Internet of Things. It can be said that the Internet of Things is a key for the interaction between the blockchain and the real world. Let me give you a simple example. You want to invest in a mine, including the current storage mine. Such a computer room has a high return on investment, but if you don’t know the computer room, do you know how much electricity and maintenance costs are? How about the computing power load? Is there any computing power stolen or something? You need IoT devices, cameras and other monitoring, but once you have a good way, this computer room can be regarded as an asset and can be mortgaged for financing. We will deploy Ruff nodes on the IDC of Chia mining in the future, and it is expected to manage 500PB of computing power.

Wang Yukun: Has there been any change in the economic model of RuffChain? How to achieve commercial success in the future?

Roy Li: The current economic model of Ruffchain is still based on the fuel of transactions and contracts on the main network, and the charge is very low, but in the future, we will use it in the link of value chain, value storage, and digitization, that is, we need to use Ruff token Only in this way can assets be managed and traded on the chain, which is very attractive, especially when combined with NFT.

I believe that if we can get an entry on the track combining Defi and NFT, Ruff still has a good chance. We will not do node mining like some other IoT mainnets, because we think that the value of data mining is not high. , storage mining is okay. But we will support the behavior of mining, and use the IoT method to digitize the mining revenue.

Wang Yukun: What is the current operation of the RuffChain Foundation?

Roy Li: The financial situation of the Ruff Foundation was relatively difficult in 2019, mainly due to the huge losses caused by the FCoin incident. The sharp rise, coupled with the profitability of the project itself, has escaped the financial crisis. For the Ruff Foundation in the future, the most important thing is how to find explosive opportunities.

Wang Yukun: Can you talk about your views on the future development of the blockchain and RuffChain's recent actions?

Roy Li: Let me talk about the recent actions first, a few big things, the first is the 50PB Chia computing power and the asset management part of IDC, which is proceeding in an orderly manner. In the future, 2.5% of the proceeds will be used to buy back Ruff. And at present, the intention to collect the lock-up conversion power has begun, and the plan is to lock 50,000 Ruff to obtain 1T of computing power. Another point is that the lockup of the first phase has been released one after another, with a total of 58.8 million Ruff tokens, which expire on April 18. If you have not yet claimed it, please contact customer service. The total rewards issued by Ruff for liquidity mining on heco has exceeded 1.3 million US dollars.

I believe that there are very few project parties that support their currency holders with such real money. Because we have a constantly improving business model, we have the confidence and structure to do so.

For the future of blockchain, I mainly focus on several aspects:

1. The next generation of Defi, such as excess loans, or things that increase the utilization rate of funds, and I think synthetic assets, derivatives, and huge markets have not yet been developed.

2. The comprehensive digitization of assets and the interpretation of compliance. I hope that one day we can use digital currency to trade houses and cars, and even mortgage your houses and cars. These should be quickly realized without trust.  

Finally, because I am a technician, I have my own understanding of how flashbot solves MEV, P disk mining, etc. I am looking forward to seeing more improvements in this area, even if it is layer 2 technology that I don’t quite agree with. Path, I am also proud of the staged success of this type of project. In short, after so long of doubts, the blockchain is finally about to be fully implemented. It is gratifying, but there is still a long way to go, and the future is worth looking forward to.


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