区块链不可能三角理论,六,区块链的不可能三角是哪三个方面?

① What does Xu Mingxing think are the factors that hinder the development of blockchain and how to solve them

Blockchain expert Xu Mingxing believes that "decentralization", "scalability" and The ebb and flow of "security" has always been a problem that hinders the large-scale application of blockchain. "Decentralization", "scalability" and "security" form an "impossible triangle". The pursuit of "security" and "decentralization" cannot take into account "scalability". The pursuit of "security" and "security" "Scalability" cannot take into account "decentralization", and the pursuit of "scalability" and "decentralization" cannot take into account "security". From the perspective of scalability, the throughput of current mainstream blockchain platforms is still very low. From a security perspective, malicious nodes will destroy the security and stability of the blockchain system, and the blockchain's nature based on public key cryptography may be subject to quantum computing attacks.
Xu Mingxing proposed his own solution for scalability and security, from the idea of ​​​​chain to "network", in the form of DAG, by changing the way of data organization, and by using concurrent computing to greatly improve the block chain processing speed. At the same time, sharding technology can allocate different nodes to different shards. Each node only needs to verify transactions within its own shard, and does not need to verify transactions outside the shard, thus reducing repeated calculations by nodes

② The Impossible Triangle and Consensus Mechanism

The Impossible Triangle of Blockchain was first proposed by Mr. Chang Xia, the founder of Babbitt. The principles are: decentralization, security, Environmental protection forms an impossible triangle. Designing a digital currency that meets two of the characteristics will inevitably make the third characteristic impossible to achieve. For example, if you design a cryptocurrency that is both environmentally friendly and secure, it must be centralized.

At that time, there were many digital currencies that adopted other consensus mechanisms, such as PPcoin, Nextcoin, Ripple, etc., which made the POW consensus mechanism also controversial in the Bitcoin community. Most people denied the POW consensus mechanism. Community members believe that this consensus mechanism is a waste of the world's electricity doing useless mathematical calculations. The key thing is that Satoshi Nakamoto did not give an explanation for the choice of the Bitcoin consensus mechanism in the white paper, and the call for POS to replace POW has become more and more intense.

Under this situation, Mr. Changxia proposed the theory of this impossible triangle. Using game theory to interpret POS will inevitably lead to centralized results. I don't deny POW, nor do I deny POS, but under different token mechanisms, there are actually different choices. We all know that in addition to high handling fees for cross-regional and cross-country inter-bank transfers, the cost of currency settlement between countries is also very high. Currently, aircraft transportation is mainly used for settlement on a monthly basis. . Secondly, each commercial bank distributes its own reserve currency to variousThe process of branch banking also consumes a lot of manpower and material resources. This is actually caused by the properties of currency itself. Among the three characteristics of currency: decentralization, security, and environmental protection, the most important is security, followed by efficiency. Bitcoin uses the POW consensus mechanism, which consumes huge amounts of electricity to ensure the security characteristics of the currency to the greatest extent, and is compatible with decentralization at the same time. It is already the optimal solution in terms of the architecture of currency attributes, and practices like ripple that sacrifice decentralization to improve efficiency are more suitable for settlement.

The dpos consensus mechanism adopted by eos is also controversial. Everyone believes that the operation of 21 master nodes does not implement the characteristics of blockchain decentralization at all. But everyone has to think about it. Within the framework of this impossible triangle, for commercial products such as smart contracts, whether efficiency is more important or decentralization is more important? I believe different people already have the answer in their minds. Therefore, we may not be able to confirm which consensus mechanism is the best, but we can find the optimal one in different application scenarios and different token attributes.

③ Blockchain and the “Impossible Triangle” of Economics

Continuing from the Impossible Triangle in Economics mentioned at the end of the previous article, here is a popular comic interpretation , I would like to share it with you here:

Illustration of Mundell’s Impossible Triangle

Here is a brief explanation of this impossible triangle:

No The possible triangle refers to an economy's monetary autonomy, exchange rate stability and free capital flow. One must be given up, and the three cannot be obtained at the same time.

For example, China is a typical example of giving up the free flow of capital and implementing capital controls in order to implement an independent monetary policy + fixed exchange rate; Hong Kong is a typical example of giving up the free flow of capital in order to implement a fixed exchange rate + free capital flow. In order to implement an independent monetary policy and free capital flow, the United States gave up its fixed exchange rate.

Exchange rate and the 811 exchange reform

First, let’s talk about exchange rate stability. A stable exchange rate is easier for everyone to understand. Before the exchange rate reform (811 exchange reform) implemented by China on August 11, 2015, the RMB exchange rate was pegged to a single U.S. dollar system. After the 811 exchange reform, several major currencies were selected and given corresponding weights to form a currency basket. At the same time, changes in the RMB multilateral exchange rate index are calculated based on market supply and demand with reference to a basket of currencies to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. However, referring to a basket does not mean pegging it. It also requires market supply and demand as another important basis, based on which a managed floating exchange rate system can be formed.

What does the government expect to do after the exchange rate reform? As you can see from this triangle shape, we want to achieve monetary policypolicy independence and free movement of capital. So what does monetary policy independence and free capital flow mean? Monetary policy independence means that the central bank within the economy can formulate monetary policies, decide independently whether to issue or withdraw currency, and regulate liquidity. For a super economy like China, monetary policy must be in its own hands. Free flow of capital means that foreign funds can come in to invest or withdraw capital at will. Then, with the needs of my country's current industrial structure adjustment and the need to continuously expand opening up to the outside world, the liberalization of the capital market is inevitable. Recently, we have seen some relaxation of capital controls, such as the recent announcement to open foreign accounts to enter the A-share market, and the previous announcement to remove restrictions on foreign shareholding ratios in banks and financial asset management companies; securities companies, fund management companies, and futures companies will be , the upper limit of foreign shareholding ratio of personal insurance companies has been relaxed to 51%. We have seen the opening up of China's capital market to the outside world, but this aspect is introduced, but for the policy of domestic capital going out, we currently see that at the government level It is still relatively conservative, especially since last year, domestic capital groups have stopped large-scale mergers and acquisitions of overseas projects, such as Xinhua Airlines, etc. Therefore, for now, the government's domestic capital controls are still strict. Of course, in addition to the investments made by large state-owned enterprises overseas, the overseas investment of capital from large government funds and banks such as the Silk Road Fund and the Asian Infrastructure Investment Bank has been approved at all levels and is subject to stricter controls.

So, the reason why we need to strictly control capital is, on the one hand, to consider the impact of the free flow of capital on our country's economy, and on the other hand, because of the current lack of effective financial supervision means. Regulate capital. As mentioned earlier in "The Three Major Characteristics of Blockchain: Penetration", blockchain is a penetrating technology and a powerful tool for financial supervision. The combination of financial markets and blockchain is an inevitable trend in the future, so with the help of blockchain technology, regulatory agencies can conduct real-time dynamic supervision of capital flows and flows, and aggregate the inflow and outflow of capital into one Network, the so-called Skynet is restored, without omissions; in addition, the regulations in the system design are incorporated into the smart contract of the blockchain. Once there is an abnormal inflow or outflow of funds, an alarm or early warning can be triggered in real time. Of course, friends in the financial sector need to give their opinions on whether complete penetrating supervision is necessary. However, using blockchain technology to regulate the flow of financial capital can greatly reduce the possibility of financial capital doing evil. Once evil is done, the perpetrators can be investigated and punished.

On the other hand, for capital going global, supervision may be more difficult, and issues of international cooperation and supervision need to be taken into consideration. At this time, it is necessary to break through the data silos between countries and establish a regulatory data sharing mechanism.

By building a regulatory system based on blockchain technology, we see that it will be possible to further realize the free flow of capital, and a standardized capital market will gradually take shape.The establishment of a trust mechanism with various entities in the capital market will help create a fairer international capital competition environment.

From the perspective of exchange rate changes, it mainly depends on the quality of the domestic economy. Of course, there are also external factors. Combined with the previous analysis of "Blockchain and Economic Cycle", it is expected that credit risk can be effectively controlled under the transformation of blockchain technology, and the volatility of a country's macroeconomics will weaken, so the corresponding fluctuations in the exchange rate market will also become smaller.

So back to the "Impossible Triangle" mentioned at the beginning of the article, with the help of blockchain technology, it is expected that this classic theory may be further rewritten, and the "Impossible Triangle" will also become " "Possible triangle", due to the stability characteristics of triangles, further becomes "reliable triangle".

④ What does the “Impossible Triangle” mean in blockchain?

In the application and development of blockchain, we not only face the technical constraints of the “Impossible Triangle” paradox , there is also the risk of national sovereignty being eroded. Theoretically, blockchain uses a set of consensus-based mathematical algorithms to establish a network of trust between machines, thereby establishing credit through technical endorsement rather than centralized credit institutions. It does not require human execution of rules, but through pre-defined It is controlled by good technical rules and is completely decentralized. But this is not the case.

The "Impossible Triangle" Paradox in Blockchain

In the application and development of blockchain, the impact and Another factor eroding national sovereignty is the anarchist and liberalizing tendencies that may come from the rule of a single technology. Blockchain fundamentally subverts the existing legal supervision system. It achieves "autonomy" purely by pre-defined technical rules, which may improve the convenience and efficiency of operations. However, due to the lack of supporting laws, Regulation can also easily lead to the infringement of national sovereignty, public interests, various organizations and individual rights and interests. The application of blockchain not only needs to solve technical problems, but also needs to study and solve the connection and integration issues between cyberspace and real society.

⑤ Impossible Triangle

Impossible Triangle is an interesting theory. This means that there are three characteristics that cannot be obtained at the same time. You can only give up one to obtain the other two.

The most famous is Mundell's impossible triangle theory, which has also become synonymous with the impossible triangle theory. Mundell's Impossible Triangle Theory:

An economy cannot have both monetary policy autonomy, free capital flow and exchange rate stability. It can only obtain the other two by sacrificing one. .

There are similar "impossible triangle theories" in other fields.

In the field of project management:

Quality, efficiency and cost, these three constitute the impossible triangle.

Distributed field:

CAP theorem refers to Consistency (consistency), Availability (availability), and Partition tolerance (partition fault tolerance) in a distributed system ), these three constitute the impossible triangle.

The complexity of high-availability storage is theoretically demonstrated. In other words, storage high availability cannot satisfy "consistency, availability, and partition fault tolerance" at the same time, and can satisfy at most two of them. This requires making trade-offs based on business when doing architecture design.

Investment areas:

High returns, strong liquidity, and low risks form an impossible triangle.

Blockchain field:

High efficiency, security and decentralization form the impossible triangle.

A blockchain system cannot have all three of these points. At least one must be sacrificed to strengthen the other two.

The traditional Internet has achieved the ultimate in "high efficiency" and done a good job in "security", but it has completely abandoned "decentralization". Bitcoin abandoned "high efficiency" and achieved "security" and "decentralization".

Finally, I heard about the "Impossible Triangle" in a joke.

Why do non-party members get extra points when some companies recruit programmers?

A person can only have two of the three things of party spirit, sincerity and wisdom.

We hope to recruit colleagues who are both sincere and intelligent, so...

Although the "Impossible Triangle" may not be correct at all times, it is important to understand the "Impossible Triangle" "Possibility theory" helps us better analyze problems, make decisions, and avoid getting stuck in thinking or pursuing goals.

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⑥ How does VS public chain solve blocks?The classic "impossible triangle" problem in the chain field

First, the PoS+PoD hybrid consensus mechanism of the exclusive gaming community greatly improves the efficiency and consistency of the public chain network.
Second, community autonomy, all decisions are decided by voting by community members. Under the hybrid consensus mechanism, both PoS gold players and PoD technology players have higher rates of return and voice, which effectively avoids the impact of centralized computing power and centralized financial resources on the entire game ecology, thereby reducing the risk of forks . If a node wants to propose a fork for a certain protocol or standard, all nodes need to participate in voting. If the PoD+PoS weighted value of the voting result exceeds 50%, the system defaults to the chain with the highest weighted value as a valid chain, and all nodes will vote. Migrate to new chain mining at the time specified in the results.
Third, because game players have requirements for the performance and bandwidth of hardware devices, the VS public chain sets the node players participating in accounting into two categories: full nodes and light nodes. Players can manually switch between full nodes and light nodes. Generally, the light node mode is used during the game to give the game more hardware support, and the full node mode is activated after the game is over and during the idle period.
Fourth, all transaction permissions in the game come from the players. Only after the players authorize them through the exclusive secret key can the game assets be circulated. At the same time, all transaction data are encrypted using the modern cryptography technology ECC (elliptic encryption algorithm) to ensure the security of blockchain information.
Fifth, as a vertical public chain in the gaming field, VS will first complete an overall solution for decentralized game production, virtual asset issuance and token economic operation. Including game engines, developer environments, standard SDKs, etc., this reduces the difficulty and threshold for game developers to enter blockchain game development from various environments, which greatly reduces the workload and cost of the game development team, and also makes VS public The scalability of the chain becomes extremely high.

⑦ Four major highlights in the blockchain field in 2022｜Interface Prophet⑯

There is a core proposition about the "Impossible Triangle" in the blockchain field, namely security sex, performance and decentralization. This proposition is the foundation of the evolution of blockchain technology. Whether it is Bitcoin, Ethereum, or the vigorously developed alliance chain, it is essentially a trade-off between the above three elements.

As Ethereum’s core position among blockchain developers is determined, performance has gradually become a bottleneck for its development. Therefore, in the foreseeable 2022, improvements in performance and efficiency will be a long-term and critical issues.

Based on the Ethereum ecosystem, to improve performance within the limits of the "Impossible Triangle", the current path has been clear. The first one is the Layer 1 level, that is, other public chains share the burden of Ethereum. Data pressure.

One of the main trends in 2021 is the increased use of Layer 1, which is currentlyPreviously dominated by Solana, Avalanche, Terra and Binance Smart Chain, each chain has a growing ecosystem worth over $10 billion.

The second type is Layer 2, which is based on the Ethereum main network, but transfers settlement to the second layer network to improve efficiency. This is what Ethereum is working on, Layer 2 is often called rollups because they "aggregate" or bundle transactions together and execute them in a new environment before sending updated transaction data back to Ethereum.

As for the most critical data verification link of the blockchain, Layer2 currently has two technical solutions, one is called "Optimistic rollups" and the other is called "ZK Rollups". Both technical routes have teams developing corresponding networks and have ecological support, such as Arbitrum, which chooses "Optimistic rollups", and dYdX, which chooses "ZK Rollups".

Between Layer1 and Layer2, there is another solution called "side chain", which is partially compatible with the Ethereum main network, but does not belong to Layer2. They are specially used to deal with the excess of Ethereum. capacity, rather than competing with Ethereum as a whole, and hosting Ethereum applications in a complementary manner.

Starting with DeFi, which currently has the most active users, according to statistics from DeFi Lama, the amount of DeFi locked on Ethereum has exceeded 100 billion US dollars, and other public chains such as BSC, Solana, and Avalanche have also Attracting nearly US$49 billion in funds, it has become a very active financial scene.

Although the data of many public chains is quite large, different chains are like data islands, and assets on different chains cannot be freely exchanged. In addition, many emerging public chains are not as developed as Ethereum and lack many foundations. Facilities such as stablecoins, NFT games, and more.

Therefore, assets on other chains need to be introduced into one's own public chain through cross-chain. Among the currently commonly used cross-chain methods, in addition to cross-chain currency withdrawals in centralized institutions such as exchange wallets , the most common ones are various decentralized cross-chain asset bridges.

For cross-chain bridges, the most important issue is how to reach consensus, which is largely related to the security of investors’ assets under custody. For now, the security of centralized exchanges Cross-chain bridges are the most convenient type of cross-chain bridge for users. However, cross-chain bridges in centralized exchanges have the problem of single points of failure. In addition, current cross-chain bridges are gradually moving towards non-custodialization. Development is to further protect the security of users’ assets.

The full name of DAO is “Decentralized Autonomous Organization", that is, "decentralized autonomous organization", which is an organizational form that attempts to get rid of the traditional bureaucracy management model and use blockchain technology to complete autonomous operations.

Go Centralized Autonomous Organizations (DAOs) are able to leverage blockchain-based governance to achieve global coordination of individuals. DAOs can be used for many purposes, including managing the operations and capital of blockchain projects (MakerDAO), managing investment capital (The LAO), Manage the use of game assets (YGG DAO), coordinate cultural groups (Friends With Benefits) or coordinate the purchase of assets (Constitution DAO).

The number of DAOs included in the deep website has reached 187, and the total assets under management exceed 12 billion U.S. dollars, covering more than 1.6 million members. Although this is not a huge figure in the field of blockchain, institutions including Sequoia Capital are beginning to pay attention to this new term.

The market value of cryptocurrency officially exceeded US$2 trillion in 2021, and is currently at US$2.5 trillion, up 175% from the beginning of the year. With the explosive growth of market value, financing in the encryption field has also risen rapidly. According to statistics, in 2021 The number of publicly disclosed primary market financings in the crypto industry in 2018 was 1,529, totaling approximately US$32.6 billion, a year-on-year growth of an exaggerated 814.2%.

However, equity financing in the crypto field is different from other fields. Under the "VIE" structure, the main exit channel for traditional VCs is for companies to log into the secondary market for IPO. However, the blockchain field has its own new financing method ICO (banned in China). The key difference of this decentralized financing method is The reason is that users can participate in the growth of the community at an earlier stage. Under the traditional venture capital model, only after landing in the secondary market can ordinary investors have the opportunity to share the dividends of corporate growth.

And in In the field of encryption, first of all, the concept of "company" has been weakened. Due to the existence of "Web3" and "DAO", communities and organizations are more mentioned. Users naturally have a sense of distrust towards centralized platforms.< br />
The most popular project in the crypto community in the past two weeks is called "OpenDao", which is a project imitating the leading NFT trading platform "OpenSea". The reason why this project is so popular comes from crypto players' interest in "OpenDao" "OpenSea" is dissatisfied. It has recently been reported that "OpenSea" is undergoing a new round of financing and is preparing for an IPO. However, NFT enthusiasts do not want "OpenSea" to become a monopoly platform like the current Internet giants, so "OpenDao" fought out The concept of centralization and issuing airdrops to all “OpenSea” users.

And at the end of 2021, there was a debate about "Web3" in the encryption community, including Tesla Chairman Elon Musk and former Twitter executive Jack Dorsey pointing their contradictions to crypto finance during the debate. of venture capital institutions believe that VCs have gained too much profit.

In 2021, an investment institution in the form of "DAO" also emerged. This kind of organization includes investors who are very influential in the community and are deeply involved in the technology field. They incubate The project performance even exceeds the results of some traditional VCs.

⑧ How does HNB deal with the "Impossible Triangle of Blockchain"?

The "Impossible Triangle of Blockchain" refers to the consistency, The three characteristics of availability and partition fault tolerance cannot be guaranteed to be satisfied at the same time. At most, two of them can be satisfied at the same time; system designers need to make choices based on different needs.

HNB’s current application scenarios and economic model, efficiency should be the first consideration, and need to support greater concurrent transactions and high performance. At the same time, as a system centered around payment, it is necessary to avoid double-spend problems while ensuring low latency, so security and reliability are also crucial. Based on the above analysis, HNB proposed the DPoS+Algorand algorithm, which uses DPoS to elect the consensus group, and then Algorand generates the blockchain.

The main advantages of the consensus algorithm based on this combination are: 1. The nodes selected by Dpos using identity attributes fully consider the distribution of interests and fairness, avoiding the situation of a single group doing evil. 2. The consensus is reached quickly, and the speed will not decrease as the system nodes increase, and can support a large number of nodes. In addition, using Dpos to campaign for candidate nodes will be more stable and relatively high-performance than using Algorand to purely randomly select ordinary users. configuration. 3. The bookkeeper is completely random and secretive, and there is no specific attack on him. 4. No meaningless calculations are performed while ensuring security, thus saving computing resources. 5. The probability of bifurcation by a single bookkeeper is close to 0, and the fault tolerance rate is high.

In this way, the "blockchain impossible triangle" can also be effectively solved, creating a fully protected community environment for HNB users.

⑨ The contents of the Blockchain Impossible Triangle are

The Blockchain Impossible Triangle refers to decentralization (Decentralization), scalability (Scability), and security. (Security) These three requirements cannot be met at the same time, and a choice must be made.
Extended information:
1. Blockchain originated from Bitcoin. On November 1, 2008, a person who called himself Satoshi Nakamoto published "Bitcoin: A Peer-to-Peer Electronic Cash" System" article,It expounds the architectural concept of the electronic cash system based on P2P network technology, encryption technology, timestamp technology, blockchain technology, etc., which marks the birth of Bitcoin. Two months later, the theory came into practice, and on January 3, 2009, the first genesis block with serial number 0 was born. A few days later, block number 1 appeared on January 9, 2009, and was connected to the genesis block number 0 to form a chain, marking the birth of the blockchain.
2. Concept Definition
Blockchain in the narrow sense is a chain data structure that combines data blocks in a sequential manner in chronological order, and is cryptographically guaranteed to be non-tamperable and non-forgeable. Account book. Generalized blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses smart contracts composed of automated script codes. , a new distributed infrastructure and computing paradigm for programming and manipulating data.
3. Characteristics
1. Decentralization. Blockchain technology does not rely on additional third-party management agencies or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes self-verification, transmission and management of information through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain.
2. Openness. The foundation of blockchain technology is open source. In addition to the private information of the transaction parties being encrypted, the data of the blockchain is open to everyone. Anyone can query the blockchain data and develop related applications through the public interface. Therefore, the entire System information is highly transparent.
3. Independence. Based on consensus specifications and protocols (similar to various mathematical algorithms such as the hash algorithm used by Bitcoin), the entire blockchain system does not rely on other third parties. All nodes can automatically and securely verify and exchange data within the system without the need for any human intervention.
4. Security. As long as you cannot control 51% of all data nodes, you cannot manipulate and modify network data at will. This makes the blockchain itself relatively safe and avoids subjective and artificial data changes.
5.Anonymity. Unless required by legal regulations, technically speaking, the identity information of each block node does not need to be disclosed or verified, and information transfer can be carried out anonymously.

⑩ What is the Impossible Triangle in Blockchain

The Impossible Triangle in Blockchain refers to decentralization, scalability, and security. These three requirements of security cannot be met at the same time, and a choice must be made. For example, Bitcoin has a very high degree of decentralization and security, but its performance (also known as scalability) is very low, the network is often congested, and traders have to pay more handling fees. Another example is the star project EOS, which is known as a million-level TPS and its performance is much higher than that of Bitcoin. However, EOS has sacrificed decentralization in order to achieve high performance and has only 21 super nodes. Therefore, it has been questioned that the power is too concentrated and is unfavorable.for network security. The above are two typical examples of the impossible triangle. This statement originated from Chang Chai's article "The Impossible Triangle: Security, Environmental Protection, and Decentralization".