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Dialogue Block.One CEO: DPOS is the only way to extend the blockchain



On December 4, EOS released the beta network "EOS STAT . " It mimics the EOS.IO software, scheduled to be released next year, with 21 block production nodes, one block-out time, a stable developer API, a wallet for setup, and an account system using the API, contract security and verification. The rapid development of EOS once again attracted the attention of the community.

At the just concluded BlockShow in Singapore , Babbitt had the privilege of visiting Block.One's CEO Brendan Blumer and partner Brock Pierce. Prior to this, there were already enough anecdote in the community about Block.One's CTO and community-based Danteimer BM (bytemaster), but the stories of other team members were as legendary as Dan Larimer.

Brendan, 31, is a veritable young man who started his first venture at the age of 15. Brendan, meanwhile, specialized in selling virtual assets in MMORPG, the role-playing game that followed, and GaMeCLiFF, which he founded, was acquired by Internet Gaming Entertainment Ltd. and Internet Gaming Entertainment (now IMI Exchange).




Brock reminded Babbitt about his entrepreneurial experience as early as 1999. Like Brendan, Brock started his career in the gaming industry by trading gamecoin from the very beginning and creating game media company ZAM, which Tencent acquired in January 2012.

Brock's fields also include media and mining. Oh yes, the legends are always versatile, and Brock was once an actress ...

Brendan and Brock have one thing in common except for startups that focus on gaming and encrypting digital currencies - akin to the Chinese community. Brendan has been in Hong Kong since he was 18 and has now spent 13 years building startups mostly for Asian clients. Brock also started active in Hong Kong and Shanghai in 2002 and funded game player Sky as the first recipient of WCG Contest champion Chinese.

During this visit, Brendan Blumer and Brock Pierce chatted with Babbitt about how they set up Block.One, why they launched EOS, their views on the Chinese community, and their future plans for development. The following is part of the interview, Babbitt did not change the wishes of editors.



Blockchain 3.0: EOS is the best DPOS project


Brendan highlighted the importance of trading performance in a decentralized community when it comes to why EOS was launched:

"I discovered Dan's ability to build a malleable network that has only two projects in addition to Bitcoin that are truly decentralized communities, which are bit shares and steemit. If you want to run steemit on Ethereum Impossible .steemit transactions per second can handle more than all Ethereum projects together, it is the world's largest blockchain. The entire Ethereum network can not support steemit, its operation in the Ethereal system Need to spend 150 million US dollars per year funding.This technology is very advanced, allowing us to create a block chain version of facebook, Uber, airbnb, Alibaba, etc. This is what we can achieve through this technology, there is currently nothing So instead of steemit technology exists, so I started to discuss with Dan using this technology, so that all developers can use this technology to develop, which is the meaning of EOS. Compared with all Ethereum projects, Steemit transaction processing power On the top of the list, this is the true data (blocktivity.info) that most people are unaware of. "




Brendan showed us that the largest number of transactions on the blocktivity.info website is steemit.

"That's why we started using this technology." While Ethereum promises to achieve many applications but their technologies do not, these goals can be met by EOS, and the blockbuster goal of EOS is to build a large scalable decentralized community."

Brock analyzed from the perspective of blockchain evolution. In his view, Bitcoin and Ethereum are the representatives of the first-generation and second-generation blockchain, respectively, whereas EOS is the third-generation blockchain One interesting thing:

"I am the chairman of the Bitcoin Foundation, and Bitcoin is a hedge nowadays that, like digital gold, does not fit into many of the current scenarios. Clearly, there have been community efforts to scale up Much interesting things have happened to trying to make changes to Bitcoin through Bitcoin Cash, Bitcoin Gold, but this is not what the POW system can do.
Ethereum is more versatile, but it's still a POW system and what it can do is still limited. The best current application for Ethereum is to serve as the foundation platform for ICO and as a platform to replace VCs. I am the founder of Blockchain Capital, and I made this year's first securities ICO. This is what Ethereum is good at right now. Obviously, as with Bitcoin, Ethereum has a plan, vision, ambition, ambition and hopes to do more in the future. Ethereum plans to switch from PoW to PoS via sharding.

EOS is one of the third generation blockchain, using DPOS. Dan is the inventor of DPOS. Therefore, he is the most experienced developer and the inventor of this expansion.

As the creator of such blockchain, I can say EOS is the best DPOS project. There are more than one blockchain project that will succeed in the future, and different blockchain chains will emerge because of their original intention of achieving different goals. Good quality, fast, low cost is a classic impossible triangle - that is, only three can be achieved between the three. Blockchain decentralized, speed, security, and ultimately only one of two functions. EOS is capable of handling 1 million transactions per second (no charge). Do not need to use tokens with steemit. If you want to make consumer goods, you have to have a system, a system that can run without tokens. If you need to use coins, you have created friction. New users often have a lot of friction when using the system. EOS does not need this. To make scalability of all consumer applications more interesting they must be designed in this fashion (no tokens needed).

I think EOS is the most interesting one in the third generation blockchain. I support the blockchain launched by more than 100 companies in this area. In my opinion, as long as there is a system that can change the world and make it better, that is the best result for everyone. Personally, I do not mind who the winner is, I like all blockchain projects, and I like the industry's owners as long as they are out of goodwill in developing the blockchain project. EOS logo is a mysterious geometric heart symbol, which represents our purpose, represents the goal of this blockchain project. The logo symbol shows a lot of things. "



The Chinese community is crucial to EOS


Brendan Blumer took the initiative to talk about the Chinese community, he believes that the Chinese community is essential for the development of EOS:

"EOS initiative is held by the token holders, not the miners to master.China is the largest community, to some extent, it can even be said that EOS is also Chinese.Therefore, it is important to have a continuous exposure in the Chinese community, And let us continue to hear the voices of the Chinese community, and we can make decisions and build our software to maximize community benefits. "
Brendan is relatively optimistic about the tougher regulatory environment in China today, "There is a lot of uncertainty about regulation, but the government may introduce clear regulation and the big environment will improve."



Token Sales: Funding and Community Creation


Recently, there has been a lot of community talk about Block.one's billion-dollar fund to support EOS, and Brendan first clarified something like this:

"We still have nothing to build, there are many rumors, but we are prepared to issue announcements in another form, not in the form of funds, and we work with the world's top VCs to ensure that funds are distributed to developers."

EOS started a new model of fundraising, and a year of significant sales of tokens also sparked controversy, in the light of Brendan's comments,

"If you look at the Daily ICO, I think of ICO as a way to create new tokens from future sources, which shows that there is a Daily ICO for bitcoin and Ethereum, and Bitcoin is $ 18 million a day, ETH is $ 8 million a day.
All of these consume power, trading less than 10 transactions per second, and we need to pay more than 400 yuan for each bitcoin transaction. Because this is to ensure the normal operation of the network to pay the cost. By 2020, if Bitcoin continues its development, it will run out of global electricity. In just two years, the development of bitcoin can drain all the world's power and we are in a critical state of affairs, and these systems are no longer able to sustain their growth. As prices rise, the same performance costs more. This is a financial disaster and we can not maintain that status.

EOS gets funding through block.one, and block.one will invest. Yes, we plan to bring billions of dollars to projects on EOS, but this is done through Foundations, which are central. What we're really focused on is investing, giving them some of the money through the best VCs and market leaders in the field so they can contribute to the project, and they are located all over the world. So we are working with partners around the world. We are preparing to declare the specific purpose of the funds, but no official statement has been issued yet. There are many rumors and reports, but none of them are accurate. We will officially open the news in December. "

In addition to fundraising, Brock interprets ICOs from a community perspective,

"The world's first ICO project was mastercoin and I am a member of the board, so we created the first ICO and first ICO in June 2013. Compared to seeing ICO as the first tokens I prefer to turn it into an initial community offering, all about community creation. "
DPoS is the only way to extend the blockchain
 

During the interview, Brendan repeatedly stressed that token holders have the right to determine the identity of the miners, in full conformity with the spirit of decentralization and equality. So confident for DPOS and EOS, in his opinion, EOS is the shape of the future blockchain it? Brendan excitedly replied, "In my opinion, 100% yes!"

"I think DPOS is the only way to expand the blockchain, and something else like quantum computing needs to be studied, so far we have not found any (successful) POS consensus mechanism, and PoW can not scale, just as I said That is, ETH and other currencies are not even coming in by the time all of the world's electricity is depleted in bitcoin by 2020. You can not add timestamps or add on a POW blockchain that costs hundreds of dollars Content because it is meaningless from an economic point of view and we think the only solution is DPOS and it makes sense that our research in this area has been going on for years and that the token holders have The right to determine the identity of the miner is entirely in the spirit of decentralization and equality because as new miner emerges and he is really producing blocks, they (the token holders) can switch quickly. , You can still control costs because of the limited number of miners and not disproportionate growth There is also a high-performance node that connects large cluster meters Network, which means high efficiency.If only small-scale computer and mobile mining POW algorithm simply does not work.My answer is yes, unless we invented something that does not exist today, or DPOS is to achieve expansion The only way we will continue to prove this.We think EOS will continue to prove itself at the mainstream level, will allow developers to build any application they want.DPOS the only flaw is that, with the general sense of the blockchain Different, can not allow everyone to build the technology they want to build, but this has changed on the EOS. "
When asked whether EOS encountered any problems in the process, Brendan seemed very confident,

"The fact is that we have not had any major problems at the moment, and it's hard for us to issue parallelism, but we're working on solutions that will not be a problem for the project, and while it's hard, But we are very confident that BM is the only one who can solve this problem, you need to have years of experience in the development of blockchain in order to solve this problem.In fact, BM has mentioned that people who can reach this level must At least three blockchain systems have been developed Few people are experienced in blockchain development like our CTO, so any newcomer trying to build a blockchain needs to constantly develop, learn, and re-develop Therefore, I think there is no problem that will prevent us from achieving our goal, but I do think that the goal EOS is trying to achieve is one of the hardest things in the world today, a process that is time-consuming It is very important that we are also recruiting professionals now. "