Roundtable for the Innovation Conference: What is the future development of Polkadot?

Jinse Finance reported on the spot that the "2021 Co-Working·Innovation Conference" hosted by Jine Finance was held in Shanghai on April 11. The theme of this conference was "Innovation and Advancement of DeFi". In the roundtable forum titled "Exploring the Unknown: What Is the Future of Polkadot?", Phala Privacy Protocol CEO Marvin had a dialogue with Candaq Group founder & , Cofounder of ParaState Marco Chen, Patract CMO Santry Huang. Marvin: I am Marvin, CEO of the Phala Privacy Protocol. Phala was founded at the end of 2018. In the early days of Polkadot, we selected Polkadot’s underlying technology to provide a decentralized and permissionless privacy cloud, connecting web2.0 and web3.0. I usually show up with a mosaic. We use this method to tell everyone the importance of privacy protection. Next, each guest takes 1 minute to introduce himself. Daoist: Hello everyone, I am the Daoist of Crust Network, and we are the application chain of decentralized storage. Song Mingshi: Hello everyone, I am Plasm NetWork. Song Mingshi, let me briefly introduce Plasm NetWork to you. This is a smart contract chain based on Polkadot, compatible with Ethereum. At the same time, we support layer2 expansion solutions. chain, we will also do cross-chains outside the Polkadot ecosystem, and we will do cross-chain bridges for Ethereum in the future. Lin Zihao Moke: Hello everyone, I am an incubation investment institution, but we have a deep relationship with Polkadot. In 2017, we began to pay attention to the incubation of Polkadot. Co-For Entrepreneurs Conference will be officially opened on September 20th at Swiss Grand Hotel Xiamen: sponsored by Jinse Finance; Alibaba Cloud, Rebi, CVT, and Changting Technology’s chief cooperative enterprise; Gaowei Space, Win in the Community, Dahe Consensus Alliance, The "Together for Entrepreneurs Conference" co-organized by Block House, Weminer, and Ant Node Alliance will be held on September 20 at Ruiyi Hotel Xiamen from 8:30 to 17:00. With the theme of "Contributing to Blockchain Entrepreneurship", the conference gathers 50+ blockchain enterprises to participate, focuses on entrepreneurship outlets, explores the growth trajectory of future business leaders, contributes to blockchain entrepreneurship, and pays tribute to those who stand in the entrepreneurial trend The change actors at the head. There are 25+ booths in the exhibition area of this conference, gathering Alibaba Cloud, Taiyi Technology, Changting Technology, Asian Exchange, 58Coin, The Force Protocol, Hotbit, ChainUP, Gravitational Wave Technology, CVT, VEX, WDH, Hot Coin, Net Su Technology, Spider Pool, BiKi, IDEX, Golden Hashrate Cloud, High Dimension Space, STD and other enterprises participated. [2020/9/3]Santry Huang: Hello everyone, I am Santry Huang from Patract. We focus on parachains within the contract ecosystem and provide assistance to community developers. At the same time, we provide developers with full-stack tools for deploying contracts. We It is a member of Polkadot, and it is an ecological project that purely serves Polkadot. Thank you everyone. Marco Chen: Hello everyone. We are Marco Chen from Cofounder of ParaState. If you are interested in building an ecology with us, welcome to talk to us after the meeting. We are one of the very few projects that have completed more than 60% of the development goals in the white paper. one. Marvin: The projects that came to our roundtable today are stored. There are three smart contract chain projects under Polkadot. Many students may have doubts about why Polkadot needs smart contract chains. Here is a brief introduction, Polkadot itself. The protocol does not have any business attributes. It is more about providing services for the chain or for the protocol layer of DeFi. It provides basic attributes such as smart contracts. The basic tools need to be developed by everyone in the ecology. This is the reason why the Polkadot ecology is relatively prosperous. , some infrastructure is done by a third party. In the following part of our discussion, the first question is more macro. The total market value of the Polkadot ecosystem is still 5-6 times behind the market value of Ethereum. Can we see the transcendence of the Ethereum ecology within a year? Total for 2020 | Zhang Tao, CEO of Haichuang Chain: Fusion is the next stage that the blockchain must go through in the next step in industrial application: Jinse Finance live report, June 21, 2020, hosted by Jinse Finance for Total 2020 District The Blockchain Innovation Application Forum kicked off in Shenzhen. Zhang Tao, CEO of Haichuang Chain, pointed out in the roundtable dialogue "Leap: Pattern and Direction after Great Changes" that we are committed to becoming an evangelist and linker in the blockchain industry. Integration is the next stage that the blockchain must go through in the next step in industrial applications. Only by continuous integration with technologies such as the Internet of Things can new things be born. According to the law of historical development, enterprise informatization, followed by enterprise cloud informatization, finally achieve blockchain on-chain. The ultimate goal must be to achieve data trust, and to achieve trust analysis, the blockchain is a good stage. After the development of data on the chain, and finally the realization of people on the chain, it must be combined with the development of the Internet of Things, so we will see, When the Internet of Things develops to a certain stage, the blockchain will definitely not fall behind too much. But going to the chain is a time-consuming process, which may take 3-5 years, and it definitely needs precipitation. [2020/6/21]Marco Chen: I think we should analyze these two ecologies regardless of the market value. First of all, Ethereum was an ICO in 2016, and it has been developing for five years. I also officially entered the currency circle at that time. In terms of infrastructure, after five years of development, the infrastructure of Ethereum is much more mature and richer than that of Polkadot. If Polkadot really wants to catch up with the ecology of Ethereum, there are still many things that need to be done in this regard. It may be necessary to make up for these shortcomings before we can say whether Polkadot has the possibility of overtaking on corners. Of course, I am more pertinent. We are also a very important code contributor to the Polkadot ecosystem. Santry Huang: Generally speaking, we don’t make judgments based on the performance of the market value. When it comes to capital considerations and competitions, we consider a question, what conditions Polkadot needs to be based on to quickly match Ethereum or even surpass Ethereum. Everyone Knowing that all Polkadot projects run based on web3.0, it means that we upgrade it by replacing the upper layer, which means that its underlying protocol can be changed without going through a hard fork. It should be said that Polkadot This problem is circumvented by making the protocol part of the consensus. The structure of Ethereum requires human intervention, which involves the relationship of interests or political relations, which leads to the division of the community. From the point of view of the contract, because Ethereum is restricted, it is impossible to develop a high-complexity contract model at low cost. And at present, Ethereum only supports the combination of loan and mortgage, otherwise its transaction costs will be greatly increased. Total for 2020 | Ministry of Industry and Information Technology Xiang Lipeng: The industry scale is expected to reach 459 million US dollars in 2022: Jinse Finance live report, June 21, 2020, the Total for 2020 Blockchain Innovation Application Forum hosted by Golden Finance was held in Shenzhen Open the curtain. This conference is sponsored by Beanheli Technology, with HBTC as a strategic partner. Xiang Lipeng, a senior engineer at the Fifth Institute of Electronics of the Ministry of Industry and Information Technology, gave a keynote speech on "Layout: Blockchain Technology and the Road to Application Market" and pointed out that as of June 2020, 22 national governments and 73 International organizations openly pay attention to the development of blockchain technology. After experiencing explosive growth in 2017, due to immature technology, lack of explosive products, unclear profit model, frequent illegal fundraising and other problems. Since 2018, the growth rate of the market size of the domestic blockchain industry has slowed down significantly, about 109.38%. It will take time for the blockchain to empower the real industry, and affected by the epidemic, it is expected that 2020 will be the lowest growth rate of the industry, and the industry scale is expected to reach 459 million US dollars in 2022. [2020/6/21] Ethereum is currently the first blockchain project that implements smart contracts. The current ecology is very prosperous and developed, the underlying facilities and development tools are very complete, and the contract standards are clearly defined. Polkadot is in this aspect It was lacking in the early stage, and we need to catch up in this aspect. On the whole, I think Polkadot has great potential to surpass Ethereum, but I think it is too late in one year, because the parachain card is not available, and we estimate that it will take a little longer. If all this can settle down, I think it is ushering in the outbreak period of Polkadot. Lin Zihao Moke: This is a comparison between Polkadot and Ethereum. Today it is mainly about the market value. If you are interested in technology, we can search-zce for the comparison between Polkadot 2.0 and Ethereum. There are eight to nine A comparative analysis, including the issue of hard forks, is actually compared at the basic level. After reading it, I don't have too many conclusive final conclusions. Now the entire infrastructure is not perfect, not to mention DAPP, even the parachain card slot has not run down, it is unreasonable for us to evaluate the market value too early, it surpasses some places of Ethereum, and it can add weight to its market value , The first one is the governance mechanism. I have seen so many blockchain ecosystems, and it is the most interesting one. Its mechanism design is very good, and the entire governance is very comprehensive. I think that in the future blockchain system, some projects are not because of technical problems, but because of governance ecology, allowing various third-party development teams to build a very large infrastructure at a very low cost. I think this is a very clever construction method, and the governance of this part has added a very large bargaining chip to the Polkadot ecology. Total for 2020 | Karen Zhang of Bihei Technology: The value created by the HBTC public chain for the blockchain ecology is mainly reflected in three aspects: Jinse Finance live report, June 21, 2020, hosted by Jinse Finance for the total of 2020 district The Blockchain Innovation Application Forum kicked off in Shenzhen. The conference is sponsored by Beanheli Technology, and HBTC is a strategic cooperative enterprise. Karen Zhang, Global Marketing President of Biheli Technology, gave a keynote speech on "How the Public Chain Can Power in the Background of New Infrastructure" and pointed out that HBTC Chain is a next-generation decentralized asset custody and clearing public chain developed based on Biheli Technology's cross-chain interaction protocol. Provide underlying services & security guarantees for the blockchain industry. The value created by the HBTC public chain for the blockchain ecology is mainly reflected in three aspects: one is to promote the interconnection and mutual recognition of the bottom layer of the public chain, effectively expand the market depth, enhance the stability of the system, and break the island state between public chains; the other is Build a transaction ecosystem that is completely decentralized, ensuring asset security and privacy protection; the third is to support all DApps that need to interact with blockchain assets and develop them on the HBTC chain. At the same time, we have launched the two characteristic functions of decentralized flash exchange and cross-chain asset mapping, bringing huge value to the industry through killer applications. [2020/6/21] Another point is the development architecture. We often discuss in private. Polkadot does not know what it will look like in the end, but the development tools left behind are very valuable for development. It will become a blockchain development model. Modular development, the bottom layer of the tool language is done very well. Many developers feel comfortable and cool after using it on Polkadot. It is a very good bargaining chip for developers. Regarding these two points, the valuation of the market value There is very big help. As for surpassing Ethereum, I think it is hard to say, because Ethereum is also developing, and it is difficult to surpass the ecology of Ethereum in the short term, but Polkadot also has the advantage of innovation. Song Mingshi: If the short term is limited to one year, Polkadot’s market value will hardly surpass Ethereum. In fact, this is not about infrastructure, but about projects on Polkadot. Ethereum has been leading for so long. The DeFi center of the entire blockchain has so many projects, and the market value of such a large project supports the market value of Ethereum. The main track on Ethereum has corresponding web2.0 projects on Polkadot. In the medium and long term, Polkadot It has great potential to match Ethereum, and may even reach a market value that surpasses Ethereum. In the long run, it is very possible. A total of 2020 | Ministry of Industry and Information Technology Xiang Lipeng: The global economy has been in a "confused period" for 10 years, and the digital economy has become the key to cracking it: Jinse Finance live report, June 21, 2020, hosted by Jinse Finance, a total of 2020 Blockchain Innovation The application forum kicked off in Shenzhen. This conference is sponsored by Beanheli Technology, with HBTC as a strategic partner. Xiang Lipeng, a senior engineer at the Fifth Institute of Electronics of the Ministry of Industry and Information Technology, gave a keynote speech on "Layout: Blockchain Technology and the Road to Application Market" and pointed out that the international geopolitical situation has intensified, and the growth center of developed countries has declined, dragging down the global economy. Development, the global economy has been "confused" for 10 years, and it will continue for a long time. In addition to the spread of the global epidemic, the short-selling sentiment of capital is high. All major international economies have chosen to empower the real economy in unanimous agreement, trying to break the development problem, but each has its own focus. Our country directly points to the development of the digital economy to empower the real economy and expand domestic demand for consumption. The digital economy has become the key to solving the problem. However, there is no precedent for the difficulty. . See the original link for more details. [2020/6/21] Daoist: There are 2 outbreaks in Ethereum: ICO and DeFi. Polkadot surpasses Ethereum and will also experience an explosion. The slot auction may bring about a short-term explosion, but how likely is it? The previous few said it is very low. If it is possible, the possibility will occur in a key outbreak Click on it. Marvin: The next discussion is more specific. Last year we were discussing that the Polkadot slot auction progress was in January and March, but now it has been delayed a lot, so this question is about the difficulty of building the Polkadot structure? How difficult is it for each parachain to follow the progress? Daochang: There is a word in the computer called state machine. When the system becomes larger and more complex, the state machine will multiply. Based on this principle, let's look at the cross-chain model. First of all, a certain blockchain itself is a super complex state machine. There are many nodes in the whole network, and the nodes are all in complex states. Now it needs to be in so many complex state machines. By relaying together synchronously, building this super complex state machine is very complicated in itself. Song Mingshi: They are making a new thing, there is nothing to learn from, these things need a lot of time, it is difficult to predict how much time it will take. For such a stability, I think the time is well worth it. Marvin: It is not only debugging, but also updating, because some results of debugging need to be updated, and about 10-15 projects continue to do debugging with them every day. After the scene of hard work comes out of the Internet company, it is difficult for me to see, so I Very moved.

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