What chemical reaction will happen by combining an Internet protocol-level system and blockchain technology?
- Current status of Public Blockchain
Public Blockchain holds great prospects, and is certainly significant to the long-term development of the Blockchain industry. Public Blockchain can be understood as the basic architecture of Blockchain, hence those who build the proper architecture will create the perfect ecology within the Blockchain industry. However, the development of public blockchain is restrained in some aspects due to issues of scalability, high transaction costs and balancing between efficiency and security. Even so, public blockchain for large-scale commercial use will surely be give birth to the future.
According to the Mytoken App, the number of public blockchain projects has risen to more than fifty this year from around just twenty last year, and this number does not even include those projects which are not being traded in exchanges yet.
The expansion plan in Ethereum will launch no earlier than 2020. Specifically, Casper will arrive next year, while Sharding will be implemented over the two phases: reach an agreement in the data layer during the first phase and give definition to data and exchange during the second phase. Currently, there are three major problems that hinder the development of Ethereum: 1. low efficiency caused by Internet congestion — Ethereum only support 20 transactions per second and a single hot App is enough to stick the network; 2. high transaction costs — GAS costs for each Ethereum smart contract call is about $1 to $3; 3. poor scalability — DApps can only issue tokens instead of creating their own public blockchains. All DApps must share the main chain in Ethereum, in which only a few scenarios are available.
Now let’s move on to analyzing the EOS Mainnet. According to the graph above: 5,957,918 blocks were produced in total, with the speed of 1/0.5s and 172,800/d. Not all of the blocks contain a transaction. A total of 6,569,538 transactions are distributed over 1,380,668 blocks.
The largest TPS (Transaction Per Second) till now is only 791, far lower than the million-level TPS mentioned by Whitepaper.
In fact, while people always look forward to the technological breakthroughs of Public Blockchain projects, they often ignore the shortage of basic Internet architecture.
2. The Developmental Shortages of the Traditional Internet
Nowadays, with the popularization of the network and the development of the mobile Internet, IoT and 5G technology, the way to access the Internet and the role of the network has fundamentally changed. Mobile Internet and IoT have become the main access points to the Internet, Cloud computing has become the main Internet computing model, multimedia Apps and social network have led to new forms of interaction in the Internet. The Internet has become a platform for collection, transmission, storage and processing of information. In a simple world, the main function of the Internet is to support more complicated services on a larger scale such as watching videos, listening to songs and playing online games, instead of mere peer-to-peer communication.
These changes greatly challenge the scalability, mobility and security of TCP/IP facing point-to-point communications depending on IP. There are millions of connected nodes now in the traditional Internet and this figure may increase to billions. Most of them are movable (e.g. for mobile phones or cars), highly dynamic with load balancing, Service Move Forward and high flow rate, and severely unsteady such as the unstable signal and periodical switch off. Node identity in the network is not tied so closely to the node position for the nodes are movable. In addition, there exist a plethora of fake nodes and services. So it is too difficult for the traditional network to support the large-scale and dynamic scenario and it also shows that the old TCP/IP cannot meet the future Internet development needs anymore.
The development of public blockchain is constrained by some difficulties such as scalability and point-to-point communications based on IP hardly supports the large scale and dynamic Internet. Then what is the future Internet depend upon? How do we solve the issues associated with current Blockchain networks? Blockcloud aims to address these very questions and provides a novel solution.
Blockcloud aims to reinvent the roads on which modern applications drive on. It is a blockchain-based advanced TCP/IP that improves and upgrades the existing Internet. Combining the advantages of blockchain and future Internet technology, it reconstructs the technology layers below which current blockchain networks and Internet applications operate. Blockcloud serves as the “building block” to provide constant connectivity for dynamic networks. It will provide better mobility, credibility, incentives, security, fairness, and scalability to upper-layer applications.
1) Solutions to Future Internet Problems
Blockcloud introduces the SCN, service-centered network: segregates the IP address identity from its location semantics, which enables apps to directly connect to the requested services through service names without worrying about the complicated IP position management logic. Such methods can adequately solve the mobility and scalability problems of the current internet in a form that is perfectly compatible with the current IP network. However, bringing in the SCN also raises a new problem: service providers lack the motivation to issue service to the internet due to the absence of effective stimuli from SCN. We can explain this in two aspects:
• Service providers are unable to predict their income from providing services
• Service providers are not guaranteed that providing the service would be profitable
Blockcloud needs to consider how to prevent the service providers from doing evil. So Blockcloud delicately utilizes the two significant characters of Blockchain to solve the aforementioned problems: firstly, it introduces the Proof-of-Service (PoS) consensus mechanism to continuously verify the services published to the network through the distributed collaboration of miners in the network; secondly, it guarantees the service providers benefit from the smart contract and token.
The token economy plays a key role in the Proof-of-Service system. Blockcloud demands service providers to deposit a certain amount of BLOC before charging for the service and the deposit amount is positively correlated to the price of the service. If the service is proved to be fake by the PoS, the deposit will be confiscated by the system and rewarded to the finders, which is used to deal with the malicious service providers with respect to the token economy.
In addition, Blockcloud solves the problems of the traditional Internet by drawing on the loose coupled hierarchical structure of the TCP/IP system with each layer independently built and self-evolve. Therefore, Blockcloud has greater flexibility and versatility, allows developers to develop their own personalized Apps simply and safely by an approach similar to “building blocks, it is suitable for rapid changes in the needs of various industries and effectively meets various needs.
2) Modification of Blockchain Technology
A dual consensus mechanism is used by Blockcloud, in which PoS is used to verify the authenticity of the service and CoDAG is used to record transactions. PoS is similar to the storage certificate of IPFS but more scalable and decentralized; and CoDAG is similar to the Thunder Toke, selecting supernodes to record transactions, it can also be seen as the updated directed acyclic graph from the perspective of the data structure of DAG. The compressed directed acyclic graph is faster and more active compared to the normal one.
The Blockcloud provides a steady basic architecture technology for the DAPP by building a new-generation underlying protocol and using blockchain technology from the following aspects:
1. Designing a layered structure to embed blockchain into SCN;
2. Leveraging a Service Access Layer (SAL) to enable service-based communications;
3. Designing PoS（Proof-of-Service）to verify the authenticity of service
4. Developing CoDAG to effectively record transactions
5. Devising a truthful continuous double auction (TCDA) mechanism based on Game Theory to fairly distribute services.
Thus, Blockcloud ingeniously utilizes the blockchain technology to improve the traditional Internet transmission system. Blockcloud essentially extends and improves the Internet underlying technology to upgrade and improve the Internet.
Blockcloud to other blockchain projects, IoT and other Internet applications is what the road is to cars. Only if we construct a high-quality road can the cars run faster and more conveniently on it.
3) Application Scenarios
As a blockchain-based advanced TCP/IP, Blockcloud can provide a safe, efficient, and stable access service for massive devices such as the Internet of Cars, Smart Health, Smart Home with scientific economic incentives and support mobile communications network, which can be considered to be a prototype of the future Internet.
4) Blockcloud Team
A project dedicated to update the traditional Internet and innovate blockchain technology needs an excellent team. The core team members of Blockcloud come from China, USA, Japan and the Middle East, and graduated from top universities and famous enterprises worldwide such as Princeton University, Tokyo University, Tsinghua University and Morgan Stanley, Baidu, Alibaba, Tencent, Huawei, over 50% of core team members hold a Ph.D. degree. There are 2 IEEE Fellows, 1 Obama White House advisor, 5 National Distinguished Scientist, and 15 Professors in the advisory board of Blockcloud. The former startup company by the core team is in the leading position within the Smart Home and Smart Wear industries, which already served more than 8 million users and cumulatively financed more than 140 million RMB.
As the CEO of Blockcloud team, Zhongxing Ming was a visiting scholar to Princeton University, worked as a Postdoctoral at Hong Kong Polytechnic University, received his Ph.D. degree from Tsinghua University, is one of the committee members of the China Computer Society Blockchain Branch, and participated in China’s first Future Internet international standard setting.
4. The Future of the Blockcloud
As the actual practitioner and early promoter of the underlying protocol-level project, Blockcloud is also expected to contribute to the underlying protocol-level system of the future Internet while providing technical support for other compelling blockchain projects. Blockcloud aims to bring about a secure, credible, efficient, fair and scalable Internet. We urge you to join us on this momentous journey.