Dimension ecosystem: When Chain.Game and DeFi collide (Part 1)

The DeFi track, which has become more and more popular since 2019, has now become a hot topic in 2020. Many of the assets follow the MKR model. The protocol team has also discovered new ways to use liquidity mining and supply as a way to legally distribute tokens to users' mechanisms. Speaking of recent trends, Dimension Chian CEO Fernando Liu said he was very happy to witness the beginnings of DeFi(Distributed Finance). The Dimension Chain team also decided to join the DeFi track.

Despite DeFi's outstanding performance, there are still many people and even industry insiders who don't know what DeFi is.

DeFi is completely based on the operation of on-chain assets and smart contracts and does not need to be interfered by the accuracy and validity of off-chain information for the time being, so it has become a scene where the implementation of blockchain applications is progressing rapidly.

In 2020, decentralized commerce based on blockchain technology is accelerating exploration and gradually landing.

In a decentralized business model, each participant can cooperate on an open and transparent basis and obtain benefits based on their respective contributions.

Dimension CEO Fernando Liu believes that the DeFi ecosystem is becoming more and more powerful and may become one of the most successful applications in the blockchain field, providing a higher level of autonomy for billions of people around the world.

At the same time, he also said that in 2020, DeFi will be an important direction for Dimension.

Why is Dimension suitable for building DeFi projects?
Because Dimension focuses on the design of the blockchain governance model.

Based on the economic model as an important engine for driving blockchain projects and communities, Dimension will adopt a repurchase deflation model and an adjustable quantitative additional issuance mechanism to achieve positive feedback on the long-term gain of project equity value, and at the same time become a repetitive calculation of the project and community.

In addition to good compatibility with the existing ecology, Dimension also has technical features that are urgently needed for DeFi applications.

The relatively low TPS on Ethereum and the rising handling fees due to network congestion have been a struggle for DeFi users. Although many projects have high TPS and low fees, the degree of centralization of the network is contrary to the fundamental characteristics of DeFi decentralization.

When comprehensively analyzing the existing mainstream consensus, Dimension noticed that although a single consensus is convenient and easy to maintain, it has many drawbacks in the efficiency and security of block generation. Therefore, it proposed a new hybrid consensus mechanism HPOS.

HPoS combined with the DPoS of authorized equity proof, under the premise of ensuring network security, faster confirmation speed, the energy consumption of the entire network is further reduced, and the network operation cost is the lowest.

At the same time, consensus nodes use the Byzantine consensus algorithm BFT to generate blocks and reach consensus. The malicious node will be disqualified as a consensus node, and a certain amount of calculated contribution value deduction and economic penalty will be given. When a consensus node executes a packaged transaction, it splits the calculation logic in the transaction into multiple computing nodes for parallel calculation. Each computing node returns a proof of correct execution while feeding back the calculation result.

The consensus node packs the result and the proof into the block, and other nodes only need to verify the proof to determine the legitimacy of the block, which can greatly reduce the block verification time and improve transaction performance. Hybrid consensus HPOS has been greatly improved in performance and robustness, providing a consensus cornerstone for blockchain networks that effectively serve enterprise-level applications.

This is more friendly to high-frequency applications such as DeFi.

Part 2 of the article coming up at the end of this week!