Exclusive Video | From Alchemist to Flashbot A Magical Alchemy Organization

There is no “dev team”. There is no company. There is only a community of alchemists figuring out what to build in the open.

There is no roadmap. An alchemist never makes forward looking statements, simply because the future is unpredictable.

The only plan is there is no plan ⚗️

This paragraph comes from the few official texts, saying "Our only plan is no plan"!

The way to participate in the whole project is also very simple, provide liquidity for MIST/ETH, you will get your Crucible NFT, and then you can become an alchemist in discord. After becoming an alchemist, you will have the right to express your opinions, plans, or executions in discord. The point is that this really has the potential to become a reality and change the evolution of Alchemist.

Exclusive | Jinse Finance’s Mining Coin Data Report on February 19th: Jinse Finance reported that according to the data of Coinin Mining Pool:

The daily income of mainstream currency mining is: BTC (￥1.17/T), ZEC (￥0.53/T), LTC (￥22.45/G), BSV (￥1.19/T), BCH (￥1.22/T), DASH (￥0.10/G).

The current popular mining machine data and net income are: Avalon A1066 (BTC, ￥29.23), Innosilicon A9+ (ZEC, ￥49.87), Innosilicon A4+ (LTC, ￥7.08). [2020/2/19]

It may sound boring to ordinary people, but we can take a look at the current list of fund pool private key managers.

Current multisig signers are:

@ees2oo : stussy.eth

@sal_ash_ : salash.eth

@brandoniles: brandoniles.eth

Exclusive | There is still room for XRP to rise steadily in the future market: analyst K God said that after the weekly breakthrough, like other mainstream currencies, the market has ushered in a rebound in the past two weeks. The price has increased by nearly 20% from the breakthrough point to the current price, and the trend is relatively weaker than other mainstream currencies. Coin, the upper weekly line is strongly pressed near the previous platform support of $0.3, the weekly MACD histogram rises steadily, the two golden crosses diverge upwards, the trading volume is moderate and heavy, and the general direction still has an upward momentum. The daily line level, since it bottomed out in mid-December last year, has now risen to around $0.28. The overall trend is running in an upward channel. After standing firmly on the upper edge of the general trend channel, it has begun to increase slightly in the past two days. The current price has just touched On the upper side of the ascending channel, the overall trend is healthy, and if the channel is not broken, continue to hold coins. [2020/2/5]

@Fiskantes: fiskantes.eth

@0xMaki : 0xmaki.eth

It is basically led by AMPL developers and 0xMaki, and @thegostep is one of the core developers of Ethereum and Ampleforth (AMPL). The Flashbots he developed solved the MEV problem to a certain extent and greatly reduced the gas cost of Ethereum.

Exclusive | Li Yong, partner of Jidou Capital: It is expected that the listing order of the three major mining machine giants will be consistent with the ranking of their market share: In view of the fact that the three major mining machine giants are seeking to go public, Jinse Finance exclusively interviewed Li Yong, a partner of Jidou Capital, On the issue of "the order and reasons for the expected listing of the three companies", he said: "I personally think that the order of listing is consistent with the current market share ranking, Bitmain, Canaan Zhizhi, and Ebang International. Bitmain relies on its strong The business strategy of "coin-to-coin" combined with the blessing of industry resources gathered in the upper reaches of the industry, the influence has touched the infrastructure research and development, blockchain application development, blockchain media, investment tools and other fields in the entire industrial chain. And Jianan Gengzhi pays more attention to high-performance mining machines, develops chips, and tries to diversify mining products. The main business of Ebang International has shifted from telecommunications to blockchain, and the development speed is obvious to all.” [2018/9/ 10]

Here I want to talk about MEV, there are a lot of information, we try to interpret it in a popular and less rigorous way that is easy to understand.

Exclusive | TokenInsight Analyst: Blockchain technology is gradually being recognized by the financial industry: As blockchain technology is applied to more and more fields, blockchain + finance is also attracting more and more attention. TokenInsight analysts accepted an exclusive interview with Jinse Finance and pointed out: Blockchain is one of the core technologies of financial technology. Since the birth of Bitcoin in 2008, its underlying technology has gradually been recognized by the financial industry. Such institutions have achieved preliminary results in specific fields such as cross-border payment, risk information sharing, supply chain finance, and bill business. Many companies have laid out the research and development and application of blockchain. Internationally, giants such as Circle, Ripple, Coinbase, Bitpay, Linq, etc. have been born. Domestically, there are also industries such as Ant Financial, Tongdun Technology, Yinuo Finance, and Bill Chain. pioneer. According to the Bochain database, as of the end of April 2017, 455 blockchain and Bitcoin-related companies around the world have received a total of US$1.947 billion in financing. According to the analysis of CCID Consulting, the application scale of blockchain in the financial field will exceed one trillion yuan in the future. It is estimated that by the end of 2018, the scale of my country's blockchain market will reach 81 million yuan, and in 2020 it will reach 512 million yuan.

As a distributed ledger, the blockchain has features such as low transaction costs, consensus value, immutable records, and process automation, which provide a guarantee for its broad development space in the financial field. In terms of customer credit investigation, personal bad credit can be recorded through blockchain technology, and banks will no longer spend a lot of cost to calculate credit scores; in terms of electronic payment, there is no intermediary between traders, and fund transfer can truly realize point-to-point In terms of securities issuance and trading, the ledger can monitor the black box operation and insider trading in the transaction in real time, so that the process can be marketized. [2018/7/18]

MEV can be called "miners can extract value" in Chinese, and this concept is mentioned in the more famous "Ethereum is a Dark Forest" and "Escape from the Dark Forest". The so-called "miner extractable value" refers to a measure of the profit that miners obtain by using the ability to include/exclude/reorder in the process of producing blocks.

Liu Yuan, founder of foodc, an exclusive golden food chain: to deal with the "fake tickets" of the World Cup. source. For ticket anti-counterfeiting, blockchain technology has obvious advantages. Liu Yuan said: The anti-counterfeiting of tickets must first prevent ticket counterfeiting. In fact, it is label anti-counterfeiting. Now it mainly prints some floral lines on it according to a certain algorithm when printing, which is similar to the anti-counterfeiting technology of ID card pattern; on the other hand, it is to prevent Counterfeit ticket codes to prevent someone from reversely deriving the ticket generation algorithm, thereby forging ticket codes. This technology is the product identification technology to prevent the algorithm from being deciphered. The anti-counterfeiting of blockchain tickets is mainly applied to the anti-deciphering of ticket codes. The encryption algorithm of blockchain is used to store the ticket codes into the chain, so that the ticket code algorithm cannot be deciphered.

Compared with traditional anti-counterfeiting methods, what are the advantages of blockchain in realizing anti-counterfeiting traceability? Liu Yuan said that in the application of blockchain anti-counterfeiting technology, blockchain technology is used to encrypt and store product identities. On the one hand, the consensus mechanism is used to achieve an effect that cannot be tampered with. The ECDSA algorithm for signature encryption will go through about 8 steps, and multiple message digest algorithm encryptions will be performed to ensure that it cannot be deciphered when quantum computers are generated in the future, so as to achieve the unique and anti-counterfeiting characteristics of identification. [2018/6/19]

The internal situation of MEV is actually divided into several minutes. First, let’s understand the transaction process on the Ethereum chain, producers (miners) + auction houses (mine pools) + bidders (users), through the Gas fee auction mechanism (PGA).

Under normal circumstances, Ethereum is running in an orderly manner, but with the emergence of financial products such as DEFI, more and more value on the chain will be captured, rather than just processing transfer transactions. Interactions may bring huge wealth value. So we can subdivide the roles into [explorers][snappers], explorers can be ordinary users, or arbitrage/clearing robots, they explore and discover the gap between the actual market and the market, and pay a certain transaction costs to capture potential benefits. The front-runners use the data on the chain and the transparency of the unconfirmed transaction pool, and use the monitoring method to further increase the Gas to make their transactions complete in advance, and complete the simplest front-running. This process allows the runners to participate in the PGA process without paying the cost of exploration, and hunts the explorers again and again to snatch the fruits of the explorers' labor. At the same time, the more intense the competitive environment becomes, the more gas fees will hurt each other. The side effects are more obvious.

There is a relatively obvious contradiction here. Transaction transparency is a characteristic of the blockchain, but the early-run opportunities it brings make the explorers themselves fall into an extremely passive competitive environment, and the early-runners reap the benefits. In the end, MEV The competitive market has become a dark forest of robbing robots. Two sharp blades are fighting in the dark. More rounds of PGA processes are used to obtain priority transaction rankings, which will eventually lead to high gas fees and affect the legitimate profits of explorers.

So what do Flashbots do?

In layman's terms, Flashbots moved this battlefield to another space.

Flashbots try to establish a MEV interest distribution order for explorers and miners, or simply understand it as moving the new order to a place outside the Ethereum main chain. Many people ask why it is not possible to completely eliminate the act of running ahead? From the perspective of the traditional financial market, front-running behavior that disrupts the market will be regulated, but in the decentralized financial world, any transaction behavior is neither reasonable nor unreasonable, and the code is cold. We can only Through the design and optimization of the rules, let the market naturally form a healthy and benign competition by generating games. This is also the charm of DEFI.

Since the struggle cannot be avoided, then we separate the battlefield. This is Flashbots. Of course, it is far more than that simple. We just analyze the whole thing from the most understandable angle.

Looks like @thegostep did something awesome. So is Alchemist related to Flashbots? At present, it is not related, but it does not represent the future, because there is still no clear conclusion on what Alchemist will do in the end. Back to that sentence:

The only plan is there is no plan ⚗️

However, a group of respectable developers have gathered here, with a geek spirit and an open attitude. Perhaps today, when the smell of copper is so heavy, this place is more like a pure land.

The following information comes from the official FAQ, and it is also one of the few public text materials. The link to the full version

Where can I trade ⚗️ ($MIST) ?

uniswap.alchemist.wtf

What is the total supply and circulating supply?

The total supply and circulating supply are the same, both start at 1,000,000 and increase by 1% every two weeks. Click here to display current supply.

Are you planning a pre-sale/private/public sale?

There are no sales. We hold an initial Balancer pool, and all ETH raised goes into the reward pool.

Do tokens have inflation?

Currently, the inflation rate is 1% every two weeks, but it can be adjusted up or down. To avoid dilution by inflation, stake your ⚗️$mist in the Aludel reward pool.

The current allocation of inflation tokens is:

50% goes to the Aludel reward pool, 25% goes to the $mist community multisig, and the remaining 25% goes to the $mist fund pool.

What can I do with my ⚗️$mist?

For the ⚗️$mist/ETH Uniswap pool, a liquidity provider rewards program has been deployed. This rewards program is called Aludel (a smart contract).

Community multisigs have been created to accumulate funds available for bounties, check out the bounties channel on discord or donate to multisig at multisig.alchemistcoin.eth.

This video is jointly launched by Jinse Finance and Bitouq, produced by the columnist Chen Mo, and authorized by Jinse Finance to release exclusively. Updates every Wednesday and Friday. Updates from time to time on weekends.

WeChat ID: Bitouq

Station B & Sina Weibo: Chen Mo Bitouq

Youtube: Bitouq blockchain live broadcast

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