Long clip talk than the original chain: what can Bystack do? What is Bystack going to do?

On the afternoon of June 16, the Bystack flint project. Babbitt and long clip, founder of the original chain, shared the title "Bystack Development Vision" on the Bystack flint project.

Long clip starts with the world outlook, present situation and future of Bystack, and introduces the original chain (Bytom) BaaS platform Bystack in detail for the first time.

At present, the Bystack consensus node global recruitment is under way, long clip said: "the planning may change, but with whom I hope to run through, I believe it is more important to choose who to go with than to choose a distance." We are willing to grow with nodes and become a huge platform. "

Writing: long clip, founder of Babbitt, founder of Biyuan chain

Writing: long clip, founder of Babbitt, founder of Biyuan chain

1 Bystack's worldview

The orientation of Bystack is to do asset chain, asset chain has two directions, one is asset digitization, the other is digital capitalization.

Asset digitization is easy to understand. First of all, we define assets. I think things of value, such as equity, creditor's rights, real estate, cars, are essentially assets. What is the value attribute? Non-reproducibility, competitiveness, the physical world (atomic world), non-interchangeability, these are some of the manifestations of things of value. Asset digitization is the process of asset chain.

What about digital capitalization? In the past, things that were difficult to determine rights, difficult to trade and circulate information attributes, such as copyright, online behavior data, privacy, rules (agreements), etc., they are also a kind of resource, a kind of asset. They are replicable, non-competitive, digital world (bit world), interchangeable. We can also capitalize these things through block chain technology.

Then, we define the asset analysis dimension. I have previously published the article "Bystack World Outlook (1): three dimensions of assets."

We believe that in Bystack's worldview, assets have three dimensions: trustworthiness (Trustworthiness), interchangeability (Fungibility), and divisibility (Severability). Trustworthiness is like the first cut, dividing assets into assets on the chain and assets under the chain. Interchangeability is like the second cut, dividing assets into homogeneous and heterogeneous assets. Divisibility is like the third cut, which divides homogeneous assets into bit assets (divisible, interchangeable) and quantum assets (indivisible, interchangeable). Heterogeneous assets are divided into atomic assets (divisible, non-interchangeable) and quark assets (indivisible and non-interchangeable).

When we define the asset dimension, we only consider the assets on the chain, the first dimension does not need to be considered, we only need to rely on interchangeability and divisibility to draw the coordinates of the assets, they are atomic, bit, quark, quantum four assets. Both real-world and digital-world assets can find their place in the quadrant.

长铗谈比原链:Bystack 能做什么?Bystack 要做什么?

长铗谈比原链:Bystack 能做什么?Bystack 要做什么?

In this way, the definition of assets is very clear.

Compared with the original chain, the UTXO model essentially understands assets as data, and the so-called transfer is the processing of data, so from a bitcoin point of view, all assets are data, all data are matrix.

It's just that we have to make a distinction that bitcoin is, of course, a matrix, but it has only one asset, which is actually one-dimensional. BUTXO is a multi-asset agreement, it has points, equity and so on. So BUTXO forms the real matrix. From this point of view, the asset protocol data structure of bitcoin is essentially a vector, and the data structure of BUTXO is a kind of matrix.

Transaction is essentially the addition and subtraction of matrix, UTXO is actually the chain of the operation of "matrix +". When there is a matrix addition, there is a matrix multiplication. The essence of matrix multiplication is "object" multiplied by "rule". The essence of multiplication is the process of applying rules to objects and getting new objects.

长铗谈比原链:Bystack 能做什么?Bystack 要做什么?

长铗谈比原链:Bystack 能做什么?Bystack 要做什么?

Let's look at an example of an object multiplied by a rule. The object is assumed to be equity, A, B and C are shareholders of the company, we issue shares of the company through BUTXO, divided into AB shares, this is the asset. In itself, these shares have different rights and interests, and rights and interests are the rules. We give these rich shares two different rights (rules) of voting and dividends, and finally we get different rights of shareholders. This means that the rules are also in the chain, and the rules themselves are assets.

In the game, the user uses the private key to master the prop assets, but the rules are designed by the developer and can be modified at will. So, the future trend is that the rules themselves should be treated as an asset, a kind of data.

Our worldview is that everything is UTXO, and all assets are data, which is the first step. The second step is to enrich the data, including objects (assets) and rules (actions on assets). Compared to the original chain now implements the first step, the next step, on Bystack we want to implement all assets and rules are UTXO. This is our grand structure.

2 the present of Bystack

At the bottom, Bystack is the operating system of the original chain; in the background, Bystack is equivalent to the BaaS platform (2B) / independent developer platform (2C) of the original chain; from the foreground, Bystack is the equivalent of the DAPP store; from the business model, Bystack is the commercial version of the original chain.

I would like to sum up these issues into the following three points of consensus.

First, a single common chain or alliance chain is difficult to solve the dualistic paradox of decentralization and efficiency. Only one chain can be decentralized and one chain can be efficient.

Second, it is meaningless to expand the Layer2 capacity of the non-computational consensus common chain. Like EOS, its main chain is a non-computational consensus, and it is impossible for scalability to do a Layer2, and then a non-computational consensus in the future. The main chain POW mechanism ensures decentralization and security, and the second chain pursues efficiency.

Third, the public chain of account model has natural limitations. The account model does not understand the rules as the data itself, so we will see improved protocols, such as ERC721 itself.

First, Bystack is an innovation of consensus mechanism. We can sum up the consensus mechanism into three routes, POW,POS or DPOS, and BFT (Byzantine fault tolerant), Bystack is the aggregator of the three routes.

Second, hierarchical structure. The main chain POW mechanism, the side chain pursues the efficiency.

Third, one main and multiple sides. The main chain is the original chain, and the side chain is Vapor. We can access a variety of side chains, even developed by third parties. One main multi-side architecture is more flexible, can match the reality of different asset chain scenarios, such as business points, block chain games, equity and so on.

长铗谈比原链:Bystack 能做什么?Bystack 要做什么?

长铗谈比原链:Bystack 能做什么?Bystack 要做什么?

In the ecological composition of Bystack, Layer1 is the main chain than the original chain, Layer2 is the side chain Vapor,Layer3 is the application layer, there are Bycoin, Byone, Bystore and so on.

A typical case is the Business points Alliance.

Before that, many of the business points alliance failed, and its biggest pain point was the indiscriminate issuance of points by alliance members, resulting in Bad money drives out good. The advantage of block chain is that it is no longer agreed on a fixed exchange rate, through an uncertain price mechanism, which is equivalent to hanging orders. It is entirely up to the user to trade spontaneously with BUTXO, with points easy to score. The exchange price of points is determined by the market.

The second is the use of the price determination mechanism, which is equivalent to one-click exchange. Points alliance participating businesses in accordance with the Bancor agreement, agreed on the amount of mortgage tokens, supply, reserve requirement ratio. The agreement is issued through BUTXO, and any modification of the agreement by either party needs to be open and transparent. The exchange price for different points shall be calculated by the Bancor agreement. This is also the benefit of the chain of rules.

3 Bystack future planning

We call Bystack's future plan the wandering Earth Project.

Brake era (2017-2019): complete the research and development of Bytom public chain and improve the application ecology of wallets, mining pools, browsers, development tools and so on. The original chain, like the Bystack's planetary engine, is the core technical infrastructure. What we're going to do now is commercialize Bytom, and that's what we're going to do next.

Escape era (2019-2022): complete the research and development of one main multi-side BaaS platform and developer platform of Bystack, and successfully land one or two business scenarios with hundreds of billions of market potential. Such as business points, blockchain games and so on. In addition to market size, they are also well suited to the BUTXO model common chain.

Wandering era (2022-2025): realize the transformation from asset chain platform to general block chain computing platform. Our first step is to implement the asset chain, not the regular chain, which requires us to move the matrix multiplication, convolution and other operations to the chain, so that the original chain becomes a real block chain of general-purpose computers, not just the circulation platform of assets.

Post-wandering era (2025-2028): to achieve the transformation of the blockchain computing platform to the blockchain operating system, support mobile phones, computers, the Internet of things and other terminal devices, to achieve the mutual link of everything.

New Sun Age (2028-2031): there is no point in planning this area yet, but we must be ambitious.

We have a few ideas about the choice of supernodes.

First of all, we must hold long-term value. Than the original team is a team with long-term values.

Secondly, we position the consensus node as an ecological co-builder, which means that everyone participates in ecological construction and carries out Defi and other application development based on Bystack, so as to harvest the multiplication effect.

Finally, in addition to the Token allocation, the consensus node has some other rights and interests, such as using the locked BTM to do the DeFi service based on Bystack. Can participate in the formulation and management of relevant asset rules. Give priority to Bystack development progress and planning information. Priority participation in Babbitt related business cooperation.

It is more important to choose who to walk with than to choose a distance. Planning may change, but who I want to walk with throughout, we are willing to grow with nodes and become a huge platform.

First, the Biyuan chain Global developer Conference will be held in Silicon Valley at the end of August. Second, Biyuan chain will release a landing application based on Bystack at the World Block chain Congress (Wuzhen), which is expected to take place in October. Third, the second half of the landing of a killer project, may be business points, to the center of the transaction or blockchain games. This is our core mission.

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