The Ecosystem Determines the Future of Public Chain
Based on the current development process of the entire blockchain industry, we define the MAI Public Chain as an application-oriented public chain. Because we are not on the same track as the currency-type public chain.
I am Allen, today I am going to talk about the ecosystem determines the future of public chain.
The recent currency market is a bear market, but I found that many friends have begun to turn their attention to the acquisition of blockchain knowledge. Maybe some people want to find the reason of bear market, some people want to learn the blockchain knowledge to find a consensus currency in the bear market and make a fortune when the bull market comes. No matter what, I think it is an improvement for the blockchain industry. Therefore, we will continue to convey the knowledge we have learned and constantly refreshed to everyone in the first time, I hope this can help all of you in the blockchain world.
- Analyze the Problems of the Global Public Chain
Recently, I read an analysis report. This analysis report is called the Blue Paper of Technology Assessment and Analysis of Global Public Chain. It is an analysis report from the BlockData. This report says that projects of global public chain are highly centralized, many public chains are highly overlapping and similar.
There are four problems in the public chain project.
1. The public chains lack innovation.
2. The 200 public chain projects that participated in the evaluation were mainly developed by more than 200 engineers. They control most of the public chains that are still active now, so the nodes of these public chain are less than the nodes of a single public chain, which make many public chains are highly overlapping and similar.
3. Public chain developers may jump to another project quickly after his project has been funded
4. Some websites of the public chain are not maintained well.
2. Complete Ecosystem Design
How did these problems arise? After the careful analysis and research on the white papers and Roadshow of these public chain projects, we found that a reason is that these public chains did not have a complete ecosystem design for the public chain when they were developed or established. They just tell people that how much TPS can they achieve and what big problem can be solved in this public chain. They directly make the development from a to b, but do not make a step-by-step design and arrange the corresponding strategy on the way from a to b.
We think that a complete and effective ecosystem must have the following characteristics.
1. There must be complete elements in the entire ecosystem.
2. Be sure to find the source of power and the base layer of the ecosystem.
3. There must be a gradual strategy.
4. It is necessary to have a method in which the elements in the ecosystem complement to form a positive feedback to each other.
For example, we can regard the public chain as a global highway, and our users are cars that run on the highway. Our DAPPs or smart contracts are various facilities on the highway, such as toll stations, shops, lounges, restaurants, gas stations, maintenance station and others. Behind these supporting facilities, they are may be the enterprises in various fields. This highway connects many villages, cities and even countries, and these correspond to our community. If this highway has no basic service facilities( if there are not enough applications for users), the speed and the safety of this highway is useless. If you have the idea of building a facility without enough developers or builders, it is difficult to meet the multi-dimensional needs of users.
In general, the more users you have, the more complex the requirements you have to meet. Only the developer of the project side is unable to meet the needs of the user.
If a project is not ecologically designed at the beginning, why would developers go to this public chain for the development? What are the benefits for them? If a public chain cannot have enough applications to solve the multi-dimensional needs of users, it will directly affect the development of “blockchain+” in various fields of enterprises or industries, and ultimately affect the future growth and the retainment of users. Without a complete step-by-step ecological design, the public chain will eventually enter a cycle of negative feedback, which is ultimately become a dead chain.
In the ecosystem of the public chain, the user is a foundation. DAPP or application is the driving force of this ecosystem. Developers are the source of power, and companies in all areas are providers of DAPP and application. These elements must be complete and enter the ecosystem step-by-step. They must be promoted to each other to form positive feedback. Only in this way, this public chain is likely to have a future, or to be able to stand out from the many public chains in a relatively short period of time.
3. The Ecosystem Design of MAI Public Chain
1）The Difference between MAI and Traditional Blockchain
Based on the current development process of the entire blockchain industry, we define the MAI Public Chain as an application-oriented public chain. Because we are not on the same track as the currency-type public chain. What is a currency-type public chain? In fact, the most typical one is bitcoin which uses the POW consensus mechanism. In the past, people said that the transfer rate of BTC was very slow and there is no application on it. So people said that it cannot be a good public chain. But I don’t think so. I think that in the field of currency-type public chains, other currency-type public chains can’t replace BTC. As the originator of the cryptocurrency, or the enlightener of the idea of the blockchain, its greatest feature and what it has to do is to ensure the security of this chain and become the benchmark for all cryptocurrencies. Like the US dollar or the gold of the real world, we call it digital gold. So it doesn’t matter whether it has a complicated application or not.
From the bitcoin currency-type public chain to the smart contract and 1CO of Ethereum, we think that 2018 and 2019 should be the time when the application-type public chain began to break out. Due to the diversity and complexity of online and offline applications, we believe that the MAI public chain must have a certain universality to meet the needs of the users. The current blockchain is still in its infancy, the infrastructure is very imperfect, and there are not many users. If you want to keep users, you must solve the problems by landing applications. The single consensus mechanism, or a simple hybrid consensus mechanism is not a solution to the diversity of applications. As I mentioned last time, the consensus mechanism is a system, an organization, a country or even a planet, which is the most basic foundation that can stably develop. The consensus mechanism determines how the various elements of the entire ecosystem of the blockchain work together and how positive feedback is formed. In the end, it will determine whether your public chain has a future, or whether it can stand out in the short term.
2) Consensus Mechanism of MAI
MAI is composed of the three core parts. The first and most important one is the consensus mechanism. The consensus mechanism of MAI is PAI consensus mechanism. The second one is artificial intelligence. The third one is that we use double-mining, dual-use PC nodes to push the public chain toward universality. These three parts are complementary and indispensable, they can form a synergy.
Our consensus mechanism is POW+POS+POD+AI. P is the meaning of the proof of the stakes. We used a mixture of three consensus mechanisms, and the background was identified and balanced by artificial intelligence. We think that only in this way can we adapt to the complex and diverse applications of the future. As a source of power for the public chain, how do we attract a large number of developers from around the world to come to our public chain to develop applications that are suitable for users? This is one of the most central features of our PAI consensus mechanism.
The core concept of the PAI consensus mechanism is that we tend to tilt the mining rights to developers. If there are no good developers to develop good DAPPs or smart contracts, we can’t keep the initial users. If there is no incentive, there will be no more developers to join, and no more DAPPs will be generated to attract new users. With dozens of developers on the project side, even 1,000 or 5,000, it is unlikely to develop applications that meet all the latitude needs of all users. So why do we increase the developer’s billing rights so high? Because our goal is to attract developers to develop good DAPPs and form the driving force behind the ecosystem. How do developers get benefit? The developer’s benefit depends on the number of times DAPP is developed by the user on the public chain, the number of users, the frequency of use of the Dapp, etc. The more times DAPP is used, the higher the DAPP is recognized by the user, the higher the developer’s billing right will be. The developer’s benefit is reflected in his development of a good DAPP and a good smart contract. Through this mechanism, a large developer community will emerge in the future. In March 2019, we will work with companies in the second version of the public chain to launch a developer incubation mechanism.
4. MAI Solves the Contradiction between Enterprises and Developers
At present, many companies need to do “blockchain +”, no matter what purposes they have, they want to do the decentralized applications, but they can not find developers to do that. Even if they find developers, the salary requirement of the developers may be one million or two million. Developers believe that regardless of the future of the company, they must make the money first. But for a company, which chain does the developer develop DAPP on? How many users are there in this chain? Can the DAPP they developed play its due role? These are all uncertain. Businesses won’t spend millions on an uncertain thing. This is unacceptable for the current living environment and the current state of the enterprise. Therefore, this is a pain point for companies to do “blockchain +” projects.
If you are on the MAI public chain, this problem can be solved perfectly. First, we will help the company to rebuild a business model and form a blockchain track that allows developers around the world to develop DAPP under our incubation. The companies only need to pay the most basic cost for the developers. For example, it may take four people to spend two months or three months to develop a DAPP and the salary is about 300,000 RMB. If so, the company will basically agree with this situation.
For a good developer, maybe only accepts 200,000 is not worth for him to develop the application. At this time, PAI mechanism works. If he is a very good developer and he wants to make more money, this depends on his achievements. If the DAPP he developed is suitable for enterprises, and it is suitable for sub-divisions. And the more user he has, the more benefit he will get from mining. And the enterprises don’t have to afford it. Through such a mechanism, we use developers as a power source and use applications as the driving force for the future development of this public chain.
Another advantage of developers developing on our public chain is that the applications of our public chain use the Java language which was most using by lot of developers. When they develop on our public chain, their Dapps will be preprocessed by artificial intelligence. When developers develop smart contracts on Ethereum, if they are wrong, no one can tell the developers how to correct them. However, in our chain, we can tell him how to correct it. Because we will work with the world’s largest smart contract library. We will prompt the developer which code has a problem based on our contract template and the use of the smart contract library. After learning through AI, we will also tell developers how to correct it.
Due to the templating and simplification of our chain, an ordinary officer of a company can issue token on the MAI public chain in the future. I think this is a very significant improvement. Because token is a proof of equity which is a necessary work for many companies to do “blockchain +”.
5. PC Nodes and TPS
Double-mining and dual-use PC nodes are also very important in our ecosystem. We talk about the dual-use first. In fact, when we are laying this dual-use node, the PC mining machine, we focus on the improvement of universality and future TPS. We don’t want to improve TPS by reducing nodes like EOS. We use sharding to improve TPS, which has a lot to do with the total number of nodes.
Suppose that our thousand nodes are working diligently now. Without the situation of downtime and network disconnection and we use sharding technology on it. In theory, our TPS can reach at least tens of thousands. Maybe in March, 2019, we will open a public test network to test TPS. By the time all users can go to our test network to detect our TPS. This TPS is related to our number of nodes.
Why don’t we use traditional mining machines to do these? Because what we want to do is an application-oriented and universal public chain. In the future, one person may take two or three mobile phones. But every family must have a computer. The biggest feature of a home computer is that under normal circumstances, the home computer will be used for four to five hours, and the rest of the time is idle. If you spend these idle time to mine, this market is very large. And there are so many nodes to do the accounting of the entire system of the public chain, I think the security of our public chain is very strong.
We want to spread these nodes throughout the country and spread them into the family. Because the earth is made up of countries, the country is made up of every city, and the city is made up of every family. The family is actually the most important target group and is the gateway to all traffic in the future. Affecting a family may affect his previous generation and the next generation, and families have multiple dimensions of demand. Therefore, our public chain mining settings are anti-ASIC chips and anti-concentration mines. We will do some smart tax collection on some centralized mines and then feed back to ordinary family miners.
6. Stable Price of MAI
Everyone knows that after many projects have been traded, there have been a lot of breaks. The reasons for the break include the factors of the entire market, as well as the initial design of the eco-design and token distribution ratio. The prices have fallen sharply because of the low price in the early stage, and even the free token have poured into the market. Before the project side application has followed the market and the entire consensus mechanism has formed a relatively complete or relatively strong consensus, the people with low cost of holding currency are easy to sell them, so the price of the currency will certainly fall.
7. Ecological Application of MAI
In our 2.0app, from the output of MAI token to the trade in the exchange, there have some more fun games and core applications, which make the MAI flow and consume, so that the entire MAI flow rate will slow down but do not rush into the exchange and hit the currency directly. With the development of our process and the incubation of developers and applications, the consensus of our entire ecosystem will become higher and higher. At this time, there have enough people and enough applications to support the price of MAI.
In the future, we will introduce some core applications that are relatively high-viscosity and can directly hit the user’s pain points to fill the entire ecology of the public chain. But the number and the diversity of DAPP must rely on global developers. We have a developer incubation plan and open source after the launch of the official version and we have consensus mechanism that allows developers to profit. So MAI can rely on developers around the world to enrich the ecosystem. In this way, I think MAI ecosystem will be relatively complete.
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