The Biography of Neo Wang and His Blockchain Blueprint
CWV main chain has held an online press conference at 20:00 on October 18, 2020. On the conference, Neo Wang shared his business stories and his current ambition on CWV foundation and CVN main chain. From the speech, you may discover more about the underlying logic and growing path of this blockhain firm.
Neo Wang’s speech:
There are many old friends in the group, but there are also many new friends, so I would like to introduce myself briefly.
My name is Neo Wang. I have started my business for 17–8 years and have been active in the domestic Internet technology industry. I started to enter the blockchain industry in 2016, co founded Beijing FCLINK Technology and served as CEO. In 2017, I launched the CWV public chain project and have been managing the CWV foundation. At the end of 2017, I founded the three o’clock blockchain community, which was really hot in China, with Laoyu sky.
Then, I’d like to introduce to you FCLINK Technology and CWV foundation, as well as the communities and some ecological businesses of our foundation.
As the earliest team focusing on blockchain technology development and service in China, FCLINK Technology is one of the first seven members of the trusted blockchain alliance of the Ministry of industry and information technology of the people’s Republic of China. It has long served four major banks and state-owned enterprises and institutions. It is the only technical service guidance unit noted in the white paper of evidence chain of the Supreme People’s Court of China. And it is also the blockchain technology provider of Softbank and Huawei strategic partner of ISV. The company has been focusing on blockchain technology R&D services, and has many patent technologies in the fields of alliance chain baas platform, blockchain smart contract and distributed storage. It is a company with sufficient development strength in the domestic blockchain industry.
Based on the technical strength of FCLINK Technology, in the middle of 2017, we established the CWV foundation in Singapore and launched the CWV public chain project. At that time, we obtained investment from most well-known domestic institutions such as Creative Capital, LD Capital and FRM Group. In June, 2018, it launched Bibox, MXC, Biki and other well-known exchanges.
At the end of 2018, we launched our own CWV main network 1.0, which is Raft+DPoS consensus algorithm blockchain 3.0 public chain. CWV main network 1.0 adopts Java + Scala code language and 100% independent original development. It is the first public chain project in China to independently develop and implement the main network. Under the network environment with 51 super nodes all over the world, it has been running stably for nearly 2 years, with block height of more than 50 million + and TPS and CTPs of more than 60000 + after multi-party test.
At the end of 2018, the currency price of CWV also soared 50 times from the lowest point when the industry was in the worst bear market. The total market value of CWV was within the top 80 in the world. It was jokingly called the light of bear market in the industry at that time.
The only regret is that it has not been able to online Huobi and Binance and other first-line exchange. However, the community construction of CWV can be regarded as one of the strongest projects in China. I believe that many friends who know CWV will not have any opinions about this self-evaluation.
The CWV foundation also hatched the BICC exchange in 2019. So far, the registered users of BICC have exceeded more than 600000 and the number of daily living users has exceeded more than 30000 . At present, BICC has more than 5000 global community partners, each of which has a community more than 500 people.
In addition, Defiking, a decentralized financial intelligent contract container platform, which is incubated by CWV foundation in DeFi direction. The contract platform currency DFK has a maximum increase of 459 times after landing in uniswap in the previous DeFi crowd. DFK is also the first batch of officially announced online projects of wave field Justswap platform.
Recently, the CWV foundation officially launched the main network 2.0, the world’s first formal main network based on VRF verifiable random function consensus algorithm, and launched the PoST space time proof decentralized storage contract.
With the new positioning of new generation public chain infrastructure + general level decentralized storage cloud + data content copyright protection and sharing contract platform, it aims to provide high-speed, safe and easy-to-use one-stop decentralized solution for all users.
In today’s press conference, in addition to the new products to be released later, I would like to introduce to you why the name of our main network should be changed to: Conscious Value Network（CVN).
Why is the name changed to Conscious Value Network? When we used to call CWV, we considered to create a new cryptoworld value. In fact, the concept is not particularly clear, but now it is completely different.
The main network we are doing now is a consensus algorithm based on the VRF verifiable random function based on POS. The most important word is random. The random function ensures the security and fairness of the network. It will not be attacked because the accounting node is predicted. Because it is completely random, it will not be manipulated arbitrarily. Therefore, VRF consensus algorithm is considered as the optimal solution of blockchain 3.0 Program.
Of course, VRF is still based on POS, and randomness is adopted in core business such as node bookkeeping and blocking. How can we make the whole system, the whole network, and the whole community develop in a benign place when they encounter problems in the process of random disorder. At this time, we need the basis of POS mechanism to gather the personal consciousness of all rights and interests holders, most of which are held by token. Only when people reach a consensus can we determine the development trend of things.
Therefore, everyone’s consciousness is very important. Every token is very valuable. Every vote of everyone is precious. Therefore, we call our network as the network of consciousness value. This network of consciousness value is very similar to the operation rules of the whole universe. Our whole universe is also random and disordered in the process of operation. Things are likely to develop in both good and bad directions at random, and the direction of development is determined by the consciousness of creatures in the universe. Just like Darwin’s theory of evolution, organisms evolve with the change of living environment, and the environment changes due to the conscious behavior of organisms.
And the whole world has been developing in a good direction, and the core rule is: “what kind of future world will you leave for your descendants?” this is the power of consciousness converging into consensus, which can control the development direction of things. Conscious Value Network is a technological network. Everything may develop in two directions randomly, but it is ultimately decided by everyone through voting. This is the magic place of VRF + POS consensus mechanism.
Our main network 2.0 Conscious Value Network, adopted the consensus algorithm of VRF verifiable random function, get the TPS / CTPs more than 50000, supported 100 super nodes, replaced the data layer optimization by levelDB to be more stable, started data compression to reduce node space, used automatic snapshot function to reduce memory usage, made the statetrie tree to be upgraded to 64 tree, provided faster parallel transaction, optimized numerical storage and query complexity, improved the performance of transaction execution, added new fragment instructions. The main chain provides partitioned internal transaction execution, and improves the efficiency of single chip execution and cross slice execution.
World famous projects such as Dfinity and Algorand claim to adopt VRF consensus algorithm, but they are still in the stage of testing network.
As we all know, the concept of the U.S. team has always been very advanced, but the project execution ability is not as good as that of our Chinese team. Therefore, our CVN main network will take the lead in landing. Next, we will hire the third testing teams around the world to conduct a comprehensive test on the VRF main network. The network token CVNT will also launch on to the major mainstream exchanges as soon as possible.
In addition, Conscious Value Network(CVN) will optimize and iterate on the basis of the original VRF verifiable random function algorithm, so we prefer to call our consensus algorithm IVRF(Infinite Random Function of infinite VRF verifiable code).
Recently, decentralized storage is booming. As the most basic infrastructure in the blockchain industry, decentralized storage is also considered to be the most noteworthy infrastructure. Conscious Value Network (CVN) also launched a decentralized storage contract solution based on the PoST algorithm based on VRF consensus.
Theoretically, from the point of view of the general theory of relativity and quantum mechanics, this is completely a concept of creating the universe, because every space-time stores every world, as long as the time space is large enough and the stored content data particles are small enough.
Then, the blockchain of VRF consensus algorithm links these worlds in each space-time together, which is the universe of multidimensional world. We use PoST to store the data content of each person’s every minute in each world, and then look at each space-time in this PoST from the high-dimensional world. It is just like the multidimensional world creatures looking at the three-dimensional world, just like the four-dimensional space lens in the movie “Star Trek”.
The POC based Filecoin network also uses the PoST algorithm to realize the main storage chain. However, for nodes, the POC capacity proof algorithm based on Zero-knowledge proof results in excessive dependence on the computing performance of the server CPU or even GPU of the node, resulting in extremely low block efficiency and waste of computing data. Second, in terms of smart contracts and virtual machines, it is almost impossible to achieve good integration.
Moreover, the TPS estimate is between 300–500, which is totally unreasonable to meet the large storage read and data transaction requirements of the future blockchain 3.0 era. It is just like a two-dimensional world technology solution to solve the user needs of the three-dimensional world.
Their original thinking logic was to create an incentive payment token for the IPFS protocol. When IPFS is really useful, the payment process can be completed with bitcoin. The world no longer needs another bitcoin. Therefore, the best solution to decentralized storage of blockchain in the future is to carry the PoST on the high-performance main chain based on VRF.
Thank you all for being here today. It is my great honor to give this speech. Hope CVN could bring you more good news soon.