Bitcoin exchanges are hot, but the soil of the token economy is poor
According to coinmarket data, the trading volume of bitcoin nearly a month exceeded the one-month peak of $20000 in 2017. Trading volume has been spewing up, which means that exchanges with encrypted currencies such as the head of bitcoin have benefited a lot. In the first quarter of 2018, the head exchange posted a profit of $200 million, just about the same as nasdaq’s $209 million profit during the same period. This month, the profit of dollar’s may be higher than nasdaq’s, which is why we’ve seen a lot of exchanges pop up recently.
Exchanges are very hot. The most direct performance is its platform card’s huge increase. Since 2019, currency security BNB has risen 7 times, fcoin FT risen 20 times, firemoney HT 3 times, OKex OKB 3 times. Four major domestic exchanges also said that the public chain of exchanges practice the card economy, but most of the public chain fell silent, the soil of token economy of exchange is still very poor.
How on earth should exchanges practice the card economy? The following content is exploring how to realize the certificate economy around the public chain of Fcoin exchange. (PS: Certified Economic Purpose: to enable all contributors to the community to obtain)
Injection of decentripetal genes into primary assets
To meet the demands, the most direct function of the exchange chain is to issue “currency”, also known as certificate, just as the popular 1CO in 2017 let the etheric square ecological prosperity, which is the basic function of the chain.
The coins on the etheric square can be classified as two kinds of assets. One is based on the original assets developed by the etheric square bottom layer, and the other is contract assets that are only crowdfunding (there are loopholes in the contract assets, which are not discussed in detail below). Both primary and contractual assets need to have a big premise that ethereum should be highly decentralized to ensure that the assets are not controlled by the centralization of the organization.
Analogy of etheric square, we can know that the exchange wants to do public chain. It is to be decentric above all, and of 4 big domestic exchanges, Fcoin is the only one who has the attribute of decentralization is. Its decentralization mainly manifests in two points, one is the issue of the certificate (full certificate is equity),80% of the exchange earnings in the form of full certificate return to the community. The other is community governance, where any member of the community can propose a proposal, which is then publicly voted (with full proof). These two factors guarantee the decentralization of the exchange and integrate the original assets into the decentralization gene.
Now that ethereum already has this feature, does it mean that the exchange chain is redundant? In fact, it is not. In the ethereum issue of general evidence, much criticized is the issue of high costs and the circulation speed slow. But it is not a technical problem, decentralization of the natural malpractice of governance is slowly decision-making, such as etheric square to POS takes many years. This is easy to understand, the ship is too big to turn around and ethereum is still a public chain of products which carry too many projects.
First of all, the exchange public chain can be technically rapid iteration and make full use of the previous research results, and then into the center of the gene, which can lead or even eliminate the previous generation of products. And the exchange in the public chain of decentralization exchange is born to guarantee the high-speed circulation of the certificate assets.
Run the traditional financial rules, mapping the agreement assets
Of course, in addition to the blockchain industry assets, the larger is the real assets, such as stocks, funds, real estate, lending, medical, e-commerce, sharing economy, knowledge payment. Mapping these assets onto the blockchain through a certificate to become an agreed-upon asset flow will greatly enhance the economic vitality, and is the next direction of blockchain development.
In fact, it is only the first step to map the block chain agreement assets in accordance with the actual rules and the ultimate goal is to allow the agreement assets to flow fully. This is not a successful case in the blockchain industry. The only reference is the traditional financial markets. For exchanges, it is the stock market which is more mainstream than the traditional rules of financial markets that they need to do everything they can to achieve the full flow of assets.
According to the current domestic A-share, first to the board, the more mainstream has the main board, small and medium-sized board, ChiNext, and even the future launch of the Ko Chuang board to take into account, using the more successful board rules in Bitcoin and other digital exchange practice. In fact, from the perspective of investment to the risk of defining reference, such as A motherboard companies are mature listed companies, ChiNext companies are mostly smaller.
There are also in accordance with the traditional listed companies suspension of trading, asset reorganization, re-trading and other relevant rules; regular disclosure of project operation rules; Low-leverage lending rules and so on. Trading will also run set bidding rules, A-share characteristics of the up-and-down board rules, it is necessary to try the U. S. stock fuse mechanism and so on.
And all of the above traditional financial rules, Fcoin basically run. Failure and success is not important, the important is practical experience. Once the real assets map block chain agreement assets success and it can be relaxed and orderly.
Community governance guarantees openness and transparency
In fact, if you can consider (1. put the original assets into the decentralization gene, 2. run traditional financial rules mapping agreement assets) these two, which are not a simple exchange decentralization governance can be completed but to rise to the level of public chain management exchange.
The management of the public chain of the exchange must follow the following rules: any problem that can be solved on the chain, never make a decision under the chain, any problem that can’t be solved on the chain, must want to replace the way on the chain to make a decision. This will ensure maximum justice, openness, transparency, trust and so on.
There is no denying that the most successful cases of community governance are the Bitcoin community, the Ethernet community and the EOS community. Because the bitcoin community (see the expansion dispute) and the ethereum community (see above) are both governance decision-making slow (POW governance) and what the exchange public chain needs is high-frequency decision-making. Obviously the community governance model can not be completely copied. In the limited model can be used for reference is the EOS community governance model, that is, DPOS consensus governance (entrusted with the rights and interests governance).
Similar to the EOS governance model, the public chain of Fcoin Exchange uses CB-DPOS (modified DPOS) governance and EOS uses the same 21 super nodes, which are generated by voting for community members who hold a certificate, that is, members of the community entrust these 21 super nodes to participate in the management of the public chain exchange, the process is completely open and transparent inquiry (can be used on the chain snapshot).
Encourage community participants to promote ecological prosperity
In the process of economic practice, because there is no central organization, we should take into account the interests of all the participants. So long as we make contributions, we should have the corresponding income, which will promote ecological prosperity and sustainable development. In this ecosystem, there are traders, project owners, developers, and super nodes.
We probably know that pure blockchain projects do not have any business model. All revenue sources are based on blockchain project certificate relative to the value of the French currency, and then through the sale of the hands of the card to obtain the difference. At present in the industry, the project side and the developer is like this. Some serious work teams continue to contribute to the industry, which have to be “cut leek” way to maintain, especially those who have a long period of time to break out of the project. It is difficult to cross the bear, they had to focus their attention on the changes in the price of the project.
And the central exchange in this blockchain trading market is very profitable. If you want to do the decentralization of the public exchange chain, the entire ecological prosperity, you must create for the project and developers to create a business model, that is, the distribution of exchange income, ensure the sustainability of the project. Let the project’s parties and developers completely out of the price dilemma, focus on the development of blockchain projects.
Exchange profit feedback, project side and developers committed to the development of the project, the platform card value-added, trading users get the difference, super nodes get governance rewards, this is not we want the card economy? Thankfully, Fcoin has been doing this all along, as has the public chain since it was launched.
In fact, it is not difficult to think of the logic of the implementation of the evidence-based economy. What is difficult is the act of “practicing” that exchanges can share their vested interests in order to promote the development of the entire industry. This is engaged in the cause of decentralization, why do they become the center? This is probably why the current exchange market is very hot, but the token economic soil is very poor!