Technology Weekly｜Filecoin announces the details of the economic model

This week's Technology Weekly contains technical news related to Ethereum, Polkadot, COSMOS, Filecoin, Hyperledger and other networks.

Ethereum Officially Adds reGenesis Proposal to ETH Development Plan

On August 25, the Ethereum official blog published an article stating that the Ethereum development plan (Tech Tree) will be revised to reflect important milestones in the development of ETH 1. Foremost among these is the reGenesis proposal by ETH 1.x researcher Alexey Akhunov. Although the proposal has not yet made it clear that it will be upgraded, the general view in the community is that reGenesis will be able to push Ethereum towards "completely stateless". The article mentions that reGenesis will bring Ethereum closer to the ultimate goal of statelessness, but avoids some of the biggest challenges of statelessness, which is to witness how gas accounting works during the implementation of EVM. It also provides some witnessing of transactions moving across the network, opening up more opportunities for leaner, lighter clients, allowing dapp developers to adapt to a stateless paradigm and witnessing production. "True" statelessness after regeneration will be a matter of degree: stateless Ethereum really just regenerates after each block.

Indra: The use of blockchain technology will not interfere with the normal operations of users: On November 23, Indra, a multinational company in Spanish information technology and defense systems, has added a new function to its charging background system, which can be used through its Mova Collect solution. Transactions are recorded and secured on the blockchain. Enables operators and franchisees to record data quickly, improving data integrity and transparency. Applying blockchain to the processes and transactions that take place in the fee back-office system can reduce conflicts between different actors due to possible disagreements, while also preventing potential cyber-attacks, Indra said. However, Indra emphasized that the use of blockchain technology will not interfere with the normal operations of users. (Its international) [2021/11/23 7:06:40]

In addition, the article mentioned that there is also a static network in the progress plan, which can help distribute state snapshots and historical chain data in the bittorrent-based DHT network. Earlier news, Ethereum developer Philippe Castonguay once said that stateless clients (or similar to ReGenesis) can effectively improve the throughput of ETH1 network. He said that stateless clients can safely increase the block gas limit, making it easier to synchronize and maintain nodes.

China Finance Magazine: The large-scale application of blockchain technology in the banking industry faces 6 major challenges: On May 28, China Finance Magazine published an article "The Application of Blockchain Technology in the Banking Industry", saying that blockchain technology has a large-scale application in the banking industry. The application faces six major challenges: First, there is no clear regulatory framework in China, and no international regulatory coordination mechanism has been established. Second, the impact on the global economy is unclear. Third, technology lacks universal rules and application scenarios are segmented. Fourth, there is a contradiction between customer privacy protection and data application. Fifth, the underlying technology is at risk of being attacked, and the speed of reaching consensus is relatively slow. Sixth, the application of commercial banks needs to consider the "double-sidedness" of blockchain technology. [2020/5/28]

Ethereum client Geth has launched v1.9.20 version

Ethereum core developer Péter Szilágyi just tweeted that the Ethereum client Geth has launched version v1.9.20. It is reported that this version has fixed some bugs and enhanced security. In addition, the official reminded that after upgrading to v1.9.20, it is not possible to revert to Geth v1.9.19 or earlier versions, unless it is resynchronized, because the layout of the blockchain database has changed, so it cannot be restored.

News | dotBC cooperates with Digimarc to provide copyright management solutions in combination with blockchain technology: According to Music Business Worldwide, American copyright management company dotBC cooperates with Digimarc Corporation to provide digital audio watermarking technology Digimarc audio barcodes in dotBC products. "The partnership between the two companies demonstrates the power of Digimarc audio barcodes combined with blockchain to ensure that rights ownership is correctly and securely associated with copyrighted content," said Bruce Davis, CEO of Digimarc. [2019/4/10]

OpenEthereum official: 2.5.13 stable version is expected to be launched in the second week of September

On August 24, OpenEthereum officially tweeted that Ethereum developer claveros announced on Github that after months of trying to catch bugs that affect OpenEthereum disk and memory usage, Parity officials have reached an agreement with OpenEthereum that it is necessary to Transition node to 2.5.13 stable release. At the same time, OpenEthereum officially stated that the 2.5.13 stable version is expected to be launched around the second week of September, and the official is evaluating the option to automatically convert the 3.0x database to the 2.5 database format without resynchronization. On August 14th, OpenEthereum officially revealed that this version will fix all bugs including versions after 2.7 and 3.0, and add Berlin hard fork support. (Note: OpenEthereum was formerly known as the Ethereum client Parity.)

Myanmar launches a third-party payment project based on blockchain technology: According to China Securities Journal, the first third-party payment platform based on blockchain technology in ASEAN countries will be put into trial operation in Myanmar in early April. The platform was developed by Chengdu Xingkong Interactive Entertainment Technology Co., Ltd., and the first step was put into use in Myanmar's electricity, telecommunications, import and export trade, department store business and other industries. [2018/3/31]

Metamask is developing a light wallet that supports the Polkadot network

According to PolkadotWiki, the cryptocurrency light wallet Metamask is developing a Google extension light wallet that supports the Polkadot network. Previously, Metamask only supported the Ethereum network, and Polkadot was the second blockchain network supported by it.

Filecoin has completed the trusted configuration link

Jinse Finance reported that Filecoin announced that at the end of last year, Filecoin completed the first phase of trusted configuration, namely "Powers of Tau"; The 6 logic circuits generate safety parameters. The final parameters of the Filecoin mainnet are now available for both phases of trusted configuration. For the mainnet, no additional operations are required, and the proof part of Filecoin is ready to use.

The blockchain copyright project Po.et announced its latest technical details: A few days ago, the blockchain copyright project Po.et announced its latest technical details. Po.et will consist of an application layer, an intermediate software layer, and a protocol layer. The project team said that it will support CMS integration, content-ethexc wallet and other functions in the future. Po.et is also about to support a WordPress plugin that will allow any user to timestamp content-ethexc in WordPress. Po.et has risen by more than 50% against the trend in the past three days, and the Binance trading platform shows that the latest transaction price is 0.72 yuan. [2018/1/21]

The effective computing power of the entire network of the Filecoin test network breaks through 30.03 PiB

IPFS100.com reported that according to filfox browser data, at 14:45 on August 28, the current block height of the Filecoin test network was 9692, the effective computing power of the entire network was 30.03 PiB, and the total pledged amount was about 1.303 million FIL. The number of miners is 302. The reward per block is 7.7348FIL, the output in the past 24 hours is 83,979FIL, and the average mining income in 24 hours is 2.82 FIL/TiB. The current top three effective computing power are: t01248 (Xianhe/Zhiheyun) temporarily ranks first with 2.21PiB, t01475 (1475) ranks second with 1.69PiB, and t02770 (Space-Time Cloud & 1.44PiB is third. It is reported that the Filecoin Space Race started at 6:00 am on August 25th and has been running for 3 days and 9 hours.

Distributed storage project Filecoin announces details of token economic model

The distributed storage project Filecoin (FIL) officially released a 32-page Filecoin economic report, which elaborated the principles and rules of the token economic model design. According to the distribution rules of Filecoin tokens, the total amount of Filecoin tokens is 2 billion, 5% is allocated to the Filecoin Foundation, 10% is used for financing, 15% is allocated to protocol laboratories, and 70% is allocated to miners. 15% of the total amount of tokens (accounting for 21.4% of miner rewards) will be used as mining reserves to motivate retrieval miners and other types of miners in the future. The specific usage method will be jointly decided by the community through the Filecoin Improvement Proposal (FIP) . The Filecoin network introduces the concept of block reward benchmark minting, which distributes tokens by estimating network utility, changing the traditional method of minting tokens purely based on the passage of time. The Filecoin team also stated that new functions such as maintenance miners, application miners, Filecoin lending, and general smart contracts may be launched in the future. It was previously reported that the Filecoin mainnet will be launched in mid-to-late September, and FIL tokens are expected to be issued in late September.

Cosmos Ecological Foundation ICF announces cooperation with Cdot, will fund its development of Substrate IBC module

The Cosmos Ecological Foundation ICF announced a partnership with Cdot. As the newly announced cooperation project in the second quarter of 2020, the Cosmos Ecological Fund ICF will fund Cdot to develop the Substrate IBC module. This work is a key step in connecting the Polkadot/Kusama and Cosmos blockchains, enabling the secure exchange of assets and data between the two ecosystems. The Substrate IBC module also makes it possible for developers to use IBC on Substrate-based blockchains. In order to support developers in using this technology, Cdot also promises to prepare corresponding documents and tutorials to explain Substrate IBC in detail, and will translate IBC documents into Chinese. The main goal of the recently formed Substrate IBC working group is to coordinate collaboration between CDot and other teams that are working hard to bridge Polkadot and Cosmos.

Founder of ConsenSys: After the acquisition, the product roadmap will be integrated for Hyperledger Besu and Quorum

On the evening of August 25, in response to ConsenSys’ acquisition of JPMorgan’s blockchain platform Quorum, ConsenSys founder Joseph Lubin tweeted that the acquisition will integrate the product roadmap for the Ethereum client Hyperledger Besu and Quorum. Looking forward to prioritizing interoperability through our multi-year partnership with JPMorgan, and a smooth transition through the upcoming ETH mainnet upgrade. JPMorgan's investment in ConsenSys will also support further development of the ConsenSys product suite.

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