Blockchain Technical Thinking: Chapter 1 - The falling stars
In Blockchain world, like in the real world: The age comes and go away. If you concern that why Bitcoin and Ethereum still be the king that lead crypto market and economic. Well, time will answer you.
This series will be my suggestions at the time of writing for someone who still finding a way to deal with Blockchain for something goods.
In this chapter, I will tell you how incredible technology theory has come and shining but still turning to dust later.
1. A legend about $4 billion in ICO
Firstly, I am leading you to meet a statue of Crypto. It is EOS backed by eosio.
This series will mainly talk about tech, so you want to know details about what was happening, just google it yourself.
EOS is one of the pioneer leading of third generation of Blockchain. Its mission is to remove transaction fee of Blockchain to helping improve user experiences with Dapps.
To archive it, EOS has a special mechanism called account. Instead of using address or public to index balance of an account, you need to pay some EOS to make a public key become an account with your choice alias (without duplicate with existed accounts). After have an account, you need to stake some EOS to help you gain some CPU. This kind of CPU has its role to compute your bandwidth. When using it (no other way), you can create as much as you want number of transaction that has zero fee as long as you don’t use up all of this bandwidth.
Not stoping there, EOS also has other magnanimity called Ram. When using smart contract on EOS, you need to use Ram instead of CPU/bandwidth. When come to use a dapp, firstly it will decrease Ram from its dapp first, then using your own Ram.
Both of Ram and CPU has mechanism refine itself in the next day.
About the consensus, EOS is one of the first platforms using DPOS. At some point, DPoS has been discussed in community that it work like centralize system. However, thanks to DPoS, many and many better Blockchain consensus developed because of it and become more effectively.
The biggest problem of EOS is fee to buy CPU. If you pay to have and account and stake some EOS that not enough CPU gains to have another transaction, you can’t do anything otherwise. The only way to resolve this problem is using some Smart contract that stake EOS for you to gain more EOS or call others person have enough EOS and bandwidth to stake EOS for you.
2. The tangle
Although IOTA is not really count to be a Blockchain, it is still been a statue in Crypto world that make some special move to change mindset of Blockchain world.
When world around with IOTA, you can’t use some kind of keypair created by Cryptography algorithm like: Ed25519 or Secp256k1. However, it still has key pair to interact with its network.
To push a transaction to network, you need to verify other two existed transaction that order by an algorithm called The tangle.
Well, I ran out of things to talk about it because I don’t work with it much to understand deeper.
3. A research lab from National University of Singapore
Finally, my story will end up with a symbol from NUS named Zilliqa.
Nothing much to talk about it. It’s just a bunch of new technology that need you study to use it. Although it has time shine in top 20, it isn’t like other 2 above used to be in top 10.
Not enough popularity,at least with me to spend time to study. However, I still want to talk about it because of respecting the ideals of development team.