Guoping Liu, the founder of Hero Node, talked about the Future Blockchain

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Catch the Wave and Race to the Top

——Guoping Liu, the founder of Hero Node, talked about the future blockchain

On June 6th, under the guidance of the China Blockchain Application Research Center, the Blockchain United Development Organization and the Renmin University of China FinTech and Internet Security Research Center, the 2nd Blockchain New Finance Summit Forum was successfully held in Shanghai, which was organized by the Shared Finance and China Times. The topic of this forum is ’NEW TECH, NEW BIZ, NEW MODE’, aiming to discuss the future blockchain and the future trend of blockchain scenario application.

Guoping Liu, founder of Hero Node was invited by the forum. In the roundtable session, he put forward his own opinion on the topic of “Consensus and Governance of [Suspicious link removed]munity”.

The details of the discussion are as follows.

Q1：In 2018, people has raised more interests for blockchain. Some media said that this year is the year of the public chain, at the same time , others said that this year is the project launched year. What do you think about the changes in the development trend of the public chain this year?

Liu：Since the launch of the Ethereum smart contract in 2016, the application scenarios of blockchains has been increasingly explored. The ERC20 token is just one of them, as well as games and exchanges. Judging from the trend, this year will be the fiercest year of the public-chain competition. I believe this competition will continue in the coming years. Faced with the capital market is not only a phenomenon of the current development of the public chain, but also an inevitable trend of future development.

The development of the public chain was dominated by technological geeks, so that, many theoretical innovations have been made. Since this year the capital market’s popularity abducted the development direction of the public chain, many projects have been focusing on satisfying the current market demand. Facing the capital market is a phenomenon of the current development of the public chain.

Q2：In terms of the changes above, what kind of advice will you give to application project? How to choose the public chain?

Liu：The public-chain competition gives much opportunity to choose by application, and also gives more possibilities to the application. But for professionals, those choices are rights, while it seems to be a burden for the normal developer, and it is almost a trap for the normal user.

If we think the public chain as the underlying level 1, the application developer is level 3, and it is clear that there is a need for a level 2 service layer to simplify the development of integration services. Level 2 not only can help you simplify development, but also integrate services. Since we all know that there is an impossible triangle in the public chain, the all-perfect public chain does not exist. A slightly more complicated application requires a combination of multiple chained services.

If you do not know how to choose a public chain or if the design is too complicated, it is better to use level 2 services. Just like you want to create a web application, you don’t know whether to choose UDP or tcp protocol. Choose a network tool to send out messages, no matter the underlying uses tcp or UDP.

Q3： With the increase of blockchain application scenarios, will there be more new consensus mechanisms to match the scenario?

Liu：The innovation of the consensus mechanism is not an easy task. Many consensus mechanisms need to undergo many steps of theoretical verification since the day they were raised, then can be applied. An interesting phenomenon here is that the theoretical verification of many application layers itself is not eligible.

Q4：If the community disagrees, there will be a fork. How do you see this phenomenon? Likes Bitcoin has so many forked coins. Does the fork affect the value of the currency? Do you think EOS will have fork coin?

Liu：Fork is not a bad thing, but the highly decentralized public chain is very difficult to diverge. It is not easy to gather consensus. The EOS chain is an exception, which is very likely to fork in theory. It just needs to find 21 nodes and run again once, so EOS must be forked. But I won’t recommend you to buy it if you are not the original team. As such a complex developing software, it is too hard to play without the support of original development team.

Q5：How to find a balance between efficiency and decentralization? There is a view that TPS should not be required as long as it is sufficient, what do you think?

Liu: It is true that we should not only pursue TPS, it is not the most primitive requirement of blockchain. Resources are always used by people who are willing to pay, so there is no question of “enough is fine”. Market will be satisfied by fork and new-built.

Q6: Now that the government is advocating a Token-free blockchain, do you think the blockchain definitely needs Token? What is a good Token economic model?

Liu：First of all, we need to know what types blockchain industry has. Where there is the public chain, there must be token economic model blockchain applications. Where there is token economic model, there must be a token blockchain application. The economic model with tokens in the public chain is actually a good application of technology to life. Open the field of vision, only if we rational develop the application scene of the blockchain industry and peripheral industries, the road of this industry could become wider and wider.

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