Unleashing Blockchain Innovation: Exploring Disruption and Decentralization
Author:Xiaxiaozhi
The innovation capability of blockchain originates from where? Under what circumstances can it flourish? Today, I will explore this question from the perspective of intellectual history and unearth the fundamental source of blockchain innovation.
Firstly, let me provide an example. If you ask me how to provide a simple and secure savings solution for people with low usage of the banking system, although I may not know the answer, I know how to obtain it because this question has a clear path. While the answer may not necessarily be correct, the question itself is clear.
However, if you ask me whether blockchain technology can replace governments or if fiat currencies will disappear, then I may not be able to answer because such questions lack a defined direction, let alone standardized answers. These questions face an unknown future, which we simply cannot predict. We categorize the first type of question as technical issues and the second type as theoretical issues.
Technical issues are actually not difficult because they have a clear path, based on existing theories for experimentation. For example, deriving decentralized finance (DeFi) from traditional finance, relying on smart contracts to provide a more transparent and efficient financial system; or utilizing Non-Fungible Tokens (NFTs) to tokenize ownership of images and artworks for trading on the blockchain. The former is based on traditional finance, while the latter utilizes a digital ledger to provide ownership proof for buyers.
Since there are clear theories and methods behind technology, as long as there are large development teams and sufficient funds, technological innovation can be achieved. For example, the Ethereum team is highly skilled in technical innovation, pushing many technologies to new heights.
However, theoretical issues are entirely different. For example, whether blockchain technology can replace governments or if fiat currencies will disappear. These questions lack a clear path.
To address these questions, what we need to solve is not whether the answers are correct, but how to find the answers. Therefore, the second type of question is essentially an attempt.
We need to find the path to reach the answers, much like rolling dice, which is filled with uncertainty. We cannot plan to roll a specific number. Faced with the unknown, even with large development teams, significant funding, or continuous efforts, they may be in vain.
Funds may be directed towards the wrong direction, large development teams may be engaged in futile efforts, and continuous efforts may be wasted, much like a stubborn donkey going in circles. In fact, all cutting-edge theoretical innovations do not require technological accumulation or the inheritance of experience and gradual learning. They often occur as mutations, accidents, and cannot be planned, relying solely on the genius and inspiration of individuals.Blockchain innovation can be categorized into two types. The first type involves the blockchainization of traditional financial models. For example, in the innovative Automated Market Maker (AMM) trading model, any user can become a liquidity provider for cryptocurrencies and earn transaction fees. Uniswap has reinterpreted the AMM technology implemented by centralized exchanges on the blockchain, making decentralized exchanges have a more liquid and immediate trading environment compared to centralized exchanges. The second type is disruptive innovation. For instance, in 2009, Satoshi Nakamoto invented Bitcoin, a decentralized ledger technology. This groundbreaking change can address the deficiencies of the financial system through security, immutability, and transparency. At a time when public confidence in centralized authorities and financial systems is waning, it offers people a brand-new choice, helping them reclaim their rights.
Disruptive innovation depends on the sudden insights of individuals. Knowledge is hidden within each individual, and it cannot be achieved through planning and design. A unified manager or planner cannot possess this insight. It relies on countless individuals making independent decisions in complex markets. It belongs to the absolute talent of individuals. Disruptive innovation is even less likely to thrive in a standardized blockchain project produced under a scaled production mode.
This is a community with flat management, reducing the communication costs between you and the central planners and managers during the planning process. Instead, it delegates decision-making power to the grassroots.
Due to the lack of strong central control, this community is wild and untamed. It is not a stable social structure but a typical binary opposition structure, with the struggle between religious and secular power, private rights and public rights, in a state of absolute dynamic change. This dynamic binary structure is extremely dangerous but also full of tension. It reserves a fertile soil for innovation, allowing numerous theories to sprout and grow.
To maintain innovation, it is necessary to defend the imagination and freedom of thought of geniuses. However, because creativity stems from the overturning and breaking of traditional ideas, the imagination of geniuses often tends to be destructive. They are dangerous to traditional society, just as Copernicus's heliocentric theory was dangerous to Christianity and Darwin's theory of evolution was dangerous to the theory of divine creation.
But a dangerous theory, a theory without ultimate answers, always heralds a burst of new thinking. This burst may destroy traditional values and ethics, potentially leading to the collapse of existing social systems and the disintegration of ideological systems.
CHIP-2023-04 Adaptive Blocksize Limit Algorithm for Bitcoin Cash 比特现金的自适应区块大小限制算法（III）
where: 其中：
y stands for block size limit; n stands for block height; y 代表块大小限制；
ε (epsilon) is the "control function"; n 代表块高度；
β (beta) is the "elastic buffer function"; n0, ε0, and β0 are initialization values; ε (epsilon) 是“控制函数”； β (beta) 是“弹性缓冲函数”；n0、ε0 和 β0 是初始化值；
x stands for mined block size; x 代表挖出的块大小；
γ (gamma) is the control function's "forget factor". This controls the maximum per-block rate of the adjustment. The greater the value the greater the response to a single block's size;γ (gamma) 是控制函数的“遗忘因子”。 这控制了每个块的最大调整速率。 值越大，对单个块大小的响应越大；
ζ (zeta) is the control function's "asymmetry factor". This controls the difference between maximum increase and decrease rates;
θ (theta) is the elastic buffer decay rate. With this, the buffer will be reduced with each step when geared growth rate of the control function is less than the decay rate;ζ (zeta) 是控制函数的“不对称因子”。 这控制了增加和减少速率之间的差异； θ (theta) 是弹性缓冲衰减率。有了这个，当控制函数的增长速率低于衰减率时，缓冲区将在每一步中减少；
δ (delta) is the elastic buffer "gearing ratio". With this, growth rate of the elastic buffer is geared to growth rate of the control function. δ (delta) 是弹性缓冲的“传动比”。 有了这个，弹性缓冲的增长速率将与控制函数的增长速率相匹配。
CHIP-2023-04 Adaptive Blocksize Limit Algorithm for Bitcoin Cash 比特现金的自适应区块大小限制算法 (II）
Still, the network participants have limited resources to devote to coming to agreement, let alone defending against social attacks. An algorithmic blocksize limit makes it so that the default response to larger mined blocks is a larger blocksize limit, and puts the burden of "doing something" on whoever wants to deviate from that.然而，网络参与者投入达成一致的资源有限，更不用说防御社交攻击了。算法化的区块大小限制使得对较大挖掘区块的默认响应是增加区块大小限制，并将“采取行动”的负担放在任何想要偏离这一默认响应的人身上。
Benefits好处：The proposed block size adjustment algorithm retains all of the benefits laid out in the "Why a limit at all?提出的区块大小调整算法保留了上述“为什么需要限制？
section above, and removes the need for coordinated changes to the blocksize in the future, reducing meta costs for the network significantly.一节中阐述的所有好处，并且消除了未来对区块大小进行协调更改的需求，显著减少了网络的元成本。
By implementing the current 32 MB limit as a floor value for the algorithm, we will still maintain a level of "stand-by" capacity even when the network is underused. This prevents the algorithm from introducing any changes to the incentive system. The exponential nature of the algorithm makes it mathematically elegant, and it exhibits no bad behavior at edge cases. By implementing asymmetry in the per-block response, we ensure stability even under extreme conditions. The change in the blocksize limit will always be predictable and smooth, across the full range of possible scenarios. By implementing an elastic buffer in the algorithm, we ensure that bursts of demand can be accommodated by responsive increases in the blocksize limit. Finally, implementing an algorithmic limit will signal Bitcoin Cash’s commitment to scaling the network to meet demand.通过将当前的32 MB限制作为算法的底线值，即使网络使用不足，我们仍将保持一定水平的“待命”容量。这避免了算法对激励体系引入任何变化。算法的指数特性使其在数学上优雅，并且在边缘情况下不表现出任何不良行为。通过在每个区块响应中实施不对称性，我们确保即使在极端条件下也能保持稳定。区块大小限制的变化将始终是可预测且平滑的，覆盖所有可能的场景。通过在算法中实施弹性缓冲区，我们确保需求的突增可以通过响应性增加的区块大小限制来容纳。最后，实施算法化的限制将表明比特币现金对于扩展网络以满足需求的承诺。
Technical技术描述
DescriptionThe main function driving the proposed algorithm belongs to the exponentially weighted moving average (EWMA) family. We will refer to this main function as the "control function". The output of the control function, referred to as "control block size", is incremented by an "elastic buffer size" value to obtain the block size limit. The input to the control function is scaled by a constant "asymmetry factor", and by a variable scaling factor determined by the elastic buffer size -- in case of positive adjustment response. The elastic buffer size is determined by the secondary "elastic buffer function", which is driven by rate of change of the control function. If the rate of change of control function is positive and big enough, then the elastic buffer size will grow to provide more headroom than the control function alone would. Unlike the control function, the buffer won't be reduced in response to smaller block sizes but it will decay with time -- for a while preserving "memory" of a past increase. If positive rate of change of control function is below a threshold value, then exponential decay will take over and work to reduce the buffer size. The buffer size to control block size ratio has an upper bound in case it grows enough so that exponential decay arrives at equilibrium with the maximum rate of increase. The full algorithm is defined as follows:驱动所提算法的主要功能属于指数加权移动平均（EWMA）系列。 我们将此主要功能称为“控制函数”。 控制函数的输出，称为“控制块大小”，通过增加“弹性缓冲区大小”值来获得块大小限制。 控制函数的输入由一个常量“不对称因子”和一个由弹性缓冲区大小决定的可变缩放因子（在正调整响应的情况下）缩放。 弹性缓冲区大小由次级“弹性缓冲函数”决定，该函数由控制函数的变化率驱动。 如果控制函数的变化率是正的且足够大，那么弹性缓冲区大小将增长，以提供比单独的控制函数更多的头寸。 与控制函数不同，缓冲区不会因较小的块大小而减少，但它会随时间衰减——一段时间内保留过去增加的“记忆”。 如果控制函数的正变化率低于阈值，则指数衰减将接管并起作用以减小缓冲区大小。 缓冲区大小与控制块大小的比率有一个上限，以防它增长足够多，使得指数衰减与增加的最大速率达到平衡。 完整的算法定义如下：
CHIP-2023-04 Adaptive Blocksize Limit Algorithm for Bitcoin Cash 比特现金的自适应区块大小限制算法 (I)
Title: CHIP-2023-04 Adaptive Blocksize Limit Algorithm for Bitcoin Cash
First Submission Date: 2023-04-13
Owners: bitcoincashautist (ac-A60AB5450353F40E)
Type: Technical, automation
Layers: Network, consensus-sensitive
Status: Accepted
Last Edit Date: 2024-02-03
**CHIP-2023-04 比特现金的自适应区块大小限制算法(一）**
Needing to coordinate manual increases to Bitcoin Cash's blocksize limit incurs a meta cost on all network participants.为比特现金手动调整区块大小限制会给所有网络参与者带来额外成本。
The need to regularly come to agreement makes the network vulnerable to social attacks.需要定期达成一致意见使得网络容易受到社会攻击。
To reduce Bitcoin Cash's social attack surface and save on meta costs for all network participants, we propose an algorithm for automatically adjusting the blocksize limit after each block, based on the exponentially weighted moving average size of previous blocks.为了减少比特现金的社会攻击面并为所有网络参与者节省额外成本，我们提出一种算法，在每个区块后自动调整区块大小限制，基于之前区块的指数加权移动平均大小。
This algorithm will have minimal to no impact on the game theory and incentives that Bitcoin Cash has today.
The algorithm will preserve the current 32 MB limit as the floor "stand-by" value, and any increase by the algorithm can be thought of as a bonus on top of that, sustained by actual transaction load.这种算法对比特现金今天的博弈论和激励几乎没有或没有影响。算法将保留当前32 MB限制作为底线“待命”值，算法的任何增加都可以被视为在此基础上的额外奖励，由实际交易负载支持。这个算法的目的是改变挖出区块增大时的默认响应。
This algorithm's purpose is to change the default response in the case of mined blocks increasing in size.
The current default is "do nothing until something is decided", and the new default will be "adjust according to this algorithm" (until something else is decided, if need be).
If there is ever a need to adjust the floor value, algorithm's parameters, or remove the algorithm, that can be done with the same amount of work that would have been required to change the blocksize limit.当前的默认值是“什么也不做，直到决定了什么”，新的默认值将是“根据此算法调整”（直到需要时决定其他方案）。如果需要调整底线值、算法参数或移除算法，可以采用与更改区块大小限制相同的工作量来完成。
Deployment [Back to Contents] Deployment of this specification is proposed for the May 2024 upgrade.本规范的部署计划在2024年5月的升级中实施。
Motivation [Back to Contents] Why a limit at all?
**为什么需要一个限制?**
Bitcoin Cash's blocksize limit serves several purposes. Perhaps most critically, without it, individual participants would still have their own maximum acceptable blocksizes depending on their hardware and software stack, and any difference in that configuration could lead to a chain split.比特现金的区块大小限制服务于多个目的。最关键的是，如果没有这个限制，个体参与者会根据自己的硬件和软件配置有自己的最大可接受区块大小，任何配置上的差异都可能导致链分裂。
It also works as a Denial of Service preventative measure. A sufficiently large block will bring down any service that processes BCH blocks in the back end, so an attacker with enough resources to mine a single block could deny users access to a large number of services. It is important to note that these services often have their bottlenecks outside of the full node software.它还作为防止拒绝服务攻击的措施。一个足够大的区块会使任何处理BCH区块的后端服务瘫痪，因此拥有足够资源挖出单个区块的攻击者可以拒绝用户访问大量服务。重要的是要注意，这些服务通常在全节点软件之外存在瓶颈。该限制通过限制攻击者可以强迫网络处理的低经济价值交易数量来作为垃圾邮件保护。
The limit works as spam protection by limiting the number of low economic value transactions an attacker can force the network to process. For a practical example, consider BSV: it is prohibitively expensive for service providers like block explorers and exchanges to support BSV not just because the blocks are big, but because comparatively few customers are actually paying for the services made possible by processing and storing those transactions.从实际例子来看，BSV就是一个例子：对于服务提供商如区块浏览器和交易所来说，支持BSV的成本不仅因为区块大，而且因为相对较少的客户实际上为处理和存储这些交易提供的服务支付。这些企业的解决方案是外包他们的节点，结果是一个节点极少、既不健壮也不抗审查的网络。
The solution for those businesses is to outsource their nodes, and the result is a network with extremely few nodes that is neither robust nor censorship-resistant. The flipside of the spam protection is that the blocksize limit can be thought of as a minimum technical requirement of network infrastructure.垃圾邮件保护的另一面是，区块大小限制可以被视为网络基础设施的最低技术要求。理论上，网络可以在任何时候开始一致地生产接近限制的区块（无论这些交易是否经济相关），因此限制告诉网络基础设施的维护者确切的扩展期望是什么。
Why an algorithmic blocksize limit?为什么需要算法化的区块大小限制？
Even when done in full agreement, increases to the blocksize limit require a coordinated effort to avoid risks of accidental splits: the exact moment and amount of increase must be agreed upon and specified ahead of time. That coordination effort incurs a non-zero cost on network participants. The more the network grows, the greater the meta cost will be.即使在完全一致的情况下，增加区块大小限制也需要协调努力以避免意外分裂的风险：增加的确切时刻和数量必须提前达成一致并指定。 这种协调努力对网络参与者造成了非零成本。 网络越大，元成本就越高。
And of course, very few things are ever done in "full agreement", even without social attacks intentionally dividing the community. 当然，即使没有社交攻击故意分裂社区，很少有事情能够做到“完全一致”。
The more the network grows, the greater the risk of network stakeholders entering a deadlock will be. The Bitcoin Cash network has had success arriving at reasonable processes for coming to decisions as a network, and it has become more resilient over the years. 网络越大，网络利益相关者进入僵局的风险就越大。 比特币现金网络已经成功地建立了合理的决策过程，并在这些年变得更加强韧。
Savage Remains BTC
After years of development, it has become clear that Bitcoin (BTC) has evolved into a political entity resembling a religious authority, increasingly leaning towards fundamentalism.
The structure of a political entity built on religious power differs from that built on secular power. A secular authority is concerned with its own economic development, emphasizing division of labor where everyone is responsible for their own part. In contrast, a religious authority does not have such diverse concerns. It does not actively engage in production to expand economic size or create more GDP. Its task is more about interpreting doctrines to gain more followers.
In such a scenario, the development of the crypto community under secular power is like a tree. It has a large trunk with numerous branches, forming a network-like structure as can be seen in charts.
However, in the religious model, there is only a single line: BTC Core Pope - Cardinal Core - Core Bishops - Core Priests - Core Clergy. There are no side branches; it only needs clergy and does not require workers engaged in production and efficiency improvement. In such a political entity, there is no specific division of responsibilities and no supervision by others. The lower levels are only responsible to the higher levels, making corruption more likely to arise.
Such a group, facing the dead-end path of the Lightning Network, cannot declare its failure to the outside world, as it is not just a mistake, but a series of mistakes. These mistakes must be concealed, not discussed, and not questioned. Questioning the Lightning Network is questioning the authority of Bitcoin Core. Without recognition of Core's authority, BTC would lose market share, and the BTC elite would lose their days of luxury and privilege.
Main price maker enters the market as BCH hits its biggest daily trading total since March!
Following the approval of cryptocurrency ETF in Canada and Europe, investor expectations for the U.S. Securities and Exchange Commission's (SEC) approval of BlackRock's Bitcoin ETF program have heated up. According to Eric Balchunas, a senior ETF analyst at Bloomberg, BlackRock's ETF has a +99.8% success rate of approval, with 575 approvals and only one denial.
On the back of the positive news, Bitcoin jumped about 27% in October, marking its biggest one-month gain since January. Meanwhile, at a time when the average daily on-chain trading volume was relatively flat, BCH also saw its largest average daily trading total in three months, signaling the entry of Main price maker.
Looking back at BCH's market performance over the past six months, there are multiple positive changes that are being focused on.
1. Improved liquidity: the liquidity of the assets held affects the liquidity of the ETF product itself, so ETF programs favor highly liquid cryptocurrency. According to Kaiko data, since the third quarter, the price of BCH nearly tripled in early July, realizing liquidity growth far beyond that of Bitcoin and Ether.
2. Resistant to downturns and volatility: ETF pursues a diversified portfolio, utilizing diversification to reduce the potential volatility of individual cryptocurrency prices. In a bear market, it is expected that ETF will seek more anti-decline and anti-volatility cryptocurrency. And compared to BCH's change in trading volume and market capitalization this year, it reflects more stable price volatility.
3. Sustained growth: Due to the adoption of the POW consensus mechanism, the mining cost ensures the basic value of BCH. Competitive transaction fees also underpin its long-term robust growth. It is understood that, as a veteran cryptocurrency, BCH has been the global offline payment track, the growth of the most robust one.
If the Bitcoin ETF is approved it will attract more high-frequency investors and stimulate the market to generate greater trading volume . The ETF, which prefers assets with relatively stable performance and potential for continued growth, is also expected to further boost the prosperity of the derivative coin market represented by BCH.
Main price maker enters the market as BCH hits its biggest daily trading total since March!
SmartBCH与Web3.0
【教程】如何将bcBCH转化成sBCH
目前coinFIex的跨链桥已经不能用了，blockNG在币安的BNB smart chain网络与Smartbch网络之间搭建了跨链兑换桥，大家可以通过跨链桥在bcBCH和sBCH之间自由转换。
下面是教程。
首先将主链的BCH转入币安的BCH账户之后选择提现。转账时输入你在smart BCH的侧链地址并选择BNB Smart Chain(BEP20)网络，然后提现。
然后在你的钱包里面添加BNB smart Chain的主网络。以下是教程:https://academy.binance.com/zh/articles/connecting-metamask-to-binance-smart-chain?utm_campaign=web_share_link
bcBCH和BNB到账之后，在钱包浏览器中打开网站 https://blockng.money/#/bridge
将切换网络至币安智能链 switch to bsc
选择币种，比如我选择的是0.9989个bcBCH
点击交换Swap，然后支付手续费完成确认。
如何将bcBCH转换成sBCH
如何将bcBCH转换成sBCH
smartbch-nabox AMA recap
On June 24, 2022, the Nabox team supported Smartbch's mainnet in na Wallet，And participated in an AMA on Nabox's official TG channel.Ten of them received BCH worth $200.
nana:Let get it started! So today’s is about smartBCH, Can you tell us something about it? What is smartBCH?
summer:Let me introduce myself first.My name is summer huang the manager of BCH community and a long-time user and supporter of BCH products.
And then there’s your question.
smartBCH is a sidechain for Bitcoin Cash and has an aim to explore new ideas and unlock novel possibilities. A sidechain is a blockchain designed for fast and inexpensive transactions with a special relationship with the main chain because of a two-way peg; in this case between Bitcoin.
nana:
So smartBCH is sidechain for BCH mainnet, same like Polygon for Ethereum
What are smartBCH’s key features as sidechain then?
summer:
right,Smart Bitcoin Cash’s innovation lies in libraries to provide a compatibility layer supporting EVM and Web3 to users and developers. We are actively working on the following libraries: MoeingEVM, MoeingADS, MoeingDB, MoeingKV, and MoeingAOT.
nana:
Just a small reminder for y’all : the answers to the questions are hidden in the conversation, so pls be careful watching them
MoeingEVM, MoeingADS, MoeingDB, MoeingKV, and MoeingAOT they really look complicated, i’ve nerve heard of these terms before.Can you elaborate in terms of MoeingEVM, MoeingADS, MoeingDB, MoeingKV, and MoeingAOT?
summer:
Of course,MoeingEVM: MoeingEVM is a parallelized execution engine that currently manages multiple EVM contexts and executes multiple transactions. It adopts several novel techniques to allow transactions from several blocks to be mixed and reordered, such that independent transactions can run in parallel to maximize throughput.
MoeingADS: MoeingADS uses a single-layer architecture, accessing the file system directly without having to use any other databases. It is a KV database that can provide existence and non-existence proof. It can replace Ethereum’s MPT as an authenticated data structure. With MoeingADS, reading a KV pair requires one read to disk, overwriting a KV pair requires one read and one write, inserting requires two reads and two writes, and deleting requires two reads and one write. What’s more, the writes are appending, which is very SSD-friendly. Experiments show that MoeingADS is even faster than LevelDB. The cost is the larger consumption of DRAM: Each key-value pair demands about 16 bytes.
MoeingDB: MoeingDB is an application-specific database that stores blockchain history. It was developed with blockchain characteristics in mind, enabling it to suit a blockchain’s workload best. Based on its features, an open-source, high-QPS Web3 API can be built, benefiting both Smart Bitcoin Cash and Ethereum.
MoeingKV: MoeingKV is a KV storage module much faster than LevelDB in reading and writing, at the cost of removing iteration support. In underlying data structure design and code implementation, MoeingKV produces trade-offs and optimizations to speed up normal read and write operations. It can be used to store the UTXO set of Bitcoin Cash.
MoeingAOT: MoeingAOT is an ahead-of-time compiler for EVM. MoeingAOT can compile EVM bytecode into native code, which would consequently be saved as a dynamically linked library. When the EVM interpreter starts running a smart contract and finds its corresponding compiled library file, the library will be loaded, and bytecode interpretation won’t be necessary.
The last one,MoeingAOT: MoeingAOT is an ahead-of-time compiler for EVM. MoeingAOT can compile EVM bytecode into native code, which would consequently be saved as a dynamically linked library. When the EVM interpreter starts running a smart contract and finds its corresponding compiled library file, the library will be loaded, and bytecode interpretation won’t be necessary.
娜娜：
Thanks for explaining, definitely will need some time to process these information. Let’s talk about something less technical, after all not everyone is a developer.
So does smartBCH interoperate with Ethereum.
summer:
At present, all kinds of tokens can be exchanged across the chain through Mistswap (https://app.mistswap.fi/bridge )on Smartbch In the future, bridges based on smart contracts are also possible, with a scheme similar to rainbow bridge.
nana:
Mistswap! That’s noted, so user can bridge assets from smartBCH to other blockchains using this tool? Just confirming
And it got me wondering that does smartBCH have to modify Solidity to deal with a UXTO model rather than regular ETH wallet balances?
summer:
You should give it a try. He’ll give you a price, Different tokens, different assets.
nana:
Like the NerveBridge integrated within Nabox i see.So does smartBCH have to modify Solidity to deal with a UXTO model rather than regular ETH wallet balances?
summer:
SmartBCH, like Ethereum, uses an account model instead of a UTXO model.
nana:
If so, can I run any language that targets the EVM (like Vyper) on smartBCH or only specially modified languages?
summer:
It can use any language which compiles to EVM bytecode.
nana:
Well received! As you have already spoke before, smartBCH is a sidechain for BCH mainnet, so how does it synchronize with Bitcoin Cash consensus?
What’s smartBCH’s consensus model?
summer:
The voting process takes place on Bitcoin Cash’s mainnet and is totally permissionless because validators only needs endorsements from miners and/or holders.
An epoch’s end time is the largest timestamp of its blocks, and its duration time is the difference between the end times of adjacent epochs. The quorum elected during an epoch will stay in a stand-by state for about 5% of the epoch’s duration time. Then it takes its turn to be on duty until the next quorum leaves its stand-by state. This is necessary because any Bitcoin Cash reorganization may alter the blocks in an epoch.
Each validator must pledge some BCH as collateral, which would be slashed should it misbehave during its duty.
娜娜：
How does one become a validator?
夏天：
At smartBCH’s launch, the voting mechanism of “one block, one vote” will be adopted. That is, in the 2,016 blocks during an epoch, each mining pool will get one vote for every Bitcoin Cash block mined to vote on the smartBCH validators. You don’t need to submit any application for becoming a validator. It is only necessary to have adequate computing power and receive votes from Bitcoin Cash miners and later BCH holders.
娜娜：
Thanks and i also got this question that might be asked all the time. How will the gateway be realized between Bitcoin Cash mainnet and smartBCH?
夏天：
The gateway between Bitcoin Cash mainnet and smartBCH will start as a PoA gateway and we will continue to improve its functionality and precision. The optimized solution may not be like any existing solutions used by RSK, Liquid, ETH2.0, Cosmos, or Polkadot. Instead, it must fit into Bitcoin Cash’s infrastructure. After adding introspection opcodes, covenants will be much easier to implement on Bitcoin Cash, and we will very likely use them.
This is indeed a common problem.
nana:
There we go now let’s talk about DeFi, one of the most infrastructures in the ecosystem. What are the advantages for developers building their DeFi protocols on smartBCH?
And also you can tell us some of the most popular DeFi protocols that built-in smartBCH ecosystem. If anyone here wants to play around with it they will know where to go.
summer:
We have a lot of outstanding advantages over Eth
The most crucial advantage for building DeFi protocols on smartBCH is the inexpensive transaction fees. The demand for more ETH and Ethereum’s ability to execute smart contracts is why its gas fees remain high. However, smartBCH will utilize extremely high throughput to make sure the transaction fees are inexpensive even with a large userbase.
nana；
Can you also tell us some popular DeFi protocols built-in smartBCH? Where can they trade tokens and all that。
夏天：
Then I recommend DEXS, Mist and EBen on the BCH side chain.
nana：
Thanks so we know where to go now!
娜娜：
Can’t wait to test it out! Except for that, what does the throughput of smartBCH look like right now?
夏天：
This can be highlighted.Limited tests currently show that the underlying storage engine can support more than 600 times the throughput of Ethereum. However, there are still many factors to consider when running the whole chain, and there will be some challenges we might face. We hope that within 20 months, the throughput per second will be 100 times larger than ETH1.0. When smartBCH initially launches, we estimate a throughput 10–20 times larger than ETH1.0.
娜娜：
Thanks Summer! Here comes the last question for this part, can you share us some future plans of smartBCH?
夏天：
MoeingADS, MoeingEVM, MoeingAOT and MoeingDB are finished.
MoeingRollup and MoeingLink are being developed right now. By then, if the traffic of Smart Bitcoin Cash is congested, they will be deployed in a hard fork for further scaling.
5月6号AMA问答整理
夏小栀:
太棒了! 首先，您能简单介绍一下您自己和您的POTA项目吗?
Great! In the begining, would you briefly introduce yourself and your POTA to us?
nex：
POTA is a potato meme token on SmartBCH!
Pota was distributed fairly by an IBO. 70% of the total supply was sold for $10,000, and the rest is kept for liquidity and airdrops to fans. You'll find that most tokens only sell 10% to 20% of the total supply and the rest is kept for financing. Pota is trying to find organic growth built on community trust. We have no inflation and no taxation. Our starting liquidity grew from $10,000 to over $135,000 and we are overwhelmed by your support!
首先他是smart bch上第一个马铃薯代币，电子化的马铃薯~
Pota主要部分是通过IBO公平分配的，总供应量的70%仅以1万美元的价格售出，其余被保留下来，用来维持流动性和向粉丝空投，如果您研究其他代币，您会发现大多数代币只销售总量的10%~20%其余用于融资。这样当他们觉得需要重新激发人们的兴趣时，就使用不定期销毁来作为营销手段，pota现在不需要这样，我们没有通胀，今天我们的总流动性超过了13.5万美元，我们被大家的支持惊呆了！
夏：
二、POTA有何特色？未来如何保持健康的发展？
What makes POTA special? How to maintain healthy development in the future?
nex：
The crypto space is sadly dominated by opportunists and money-grabbers. The aim of POTA is to create a fun and engaging community of people who don't just see financial gain are their only goal but want to make this space more welcoming and fun.
We've all been disappointed at some point about this space. Most people only want to become rich overnight, buy a Lambo, etc. while not caring about anyone else. We've also seen how the public eye is starting to treat crypto and NFT's. All they see is expensive JPEG’s, rug pulls and people shilling their own investments. All of that is making the crypto space very hostile to newcomers and existing members alike.
I am a member of a little meme coin called "Banano" which has the best community I've been a part of. This coin gave me the inspiration to start POTA.
POTA, like Banano, isn't meant to be the next Bitcoin or Ethereum. It's meant to bring some entertainment to people's lives and welcome newcomers to SmartBCH, the same way that Dogecoin succeeded in bringing a lot of new people to crypto. As long as we build a strong and fun community, the token cannot fail.
可悲的是加密领域被投机分子和掠夺者所主导，POTA的目标是创建一个有趣且吸引人的社区，这些人不止把经济利益视为唯一目标，而是想让这个空间更受欢迎更有趣。
我们都曾对这个领域感到失望，大多数人只想一夜暴富，买一辆兰博基尼等等而不关心其他人，我们也看到了公众是如何看待加密货币和非加密货币的，他们看到的都是昂贵的JGPG图片，人们从自己的投资中获利。所有这些使加密领域新来者和现有成员之间非常敌对。
我是一个叫做Banano的小表情包代币的成员，我所在的社区是最棒的，这没带币给了我创立POTA的灵感和banano一样，POTA并不是要成为下一个比特币或以太坊，它的目的是为人们的生活带来一些娱乐，并欢迎新用户加入smart BCH，就像狗狗币成功的将许多新用户引入加密货币一样，只要我们构建一个强大而有趣的社区，代币就不会失败。
夏：
三、Potato coin发布了一个NFT系列，它有什么特色，我们如何获得它？在未来会推出更多 NFT吗？
Potato Coin released an NFT collection. What is the use case of Potato NFT? Any plans in minting your next collection in the future?
**nex**
NFT's are an interesting concept. Some people buy them in order to sell them for a profit, others like to collect them. Our first NFT collection (Collection 0) was released for free to our holders because we wanted to have a more fair distribution than charging an artificial amount to mint them. Currently the only use case they have is feeling cool that you own one of the first 100 Potato NFT's that were minted, similar to what first edition Pokemon cards became a few years after they came out.
We do have some plans on a future NFT collection that is more randomized, but there is no timeline yet that we can announce.
非功能性测试是一个有趣的概念，有些人买它是为了投机，而有些人则喜欢收集他们。
我们的第一个NFC系列被称为0系列。标志着POTA的第一个版本。（我喜欢从零开始而不是一）在2021年的10月份我们对持有pota代币最多的100个地址进行了空投，这100个地址都收到了一个随机的NFT。
他们可以在http://nft.potato.in/index.html 查看和交易Pota的NFT
这很酷，就像最初版本的pokemon卡。在问世几年后的情况一样，他们在未来会推出更多NFC系列分配上会比系列零更加随机，但我们目前还没有时间表可以宣布。
xia:
四：你是否打算发布一些新的东西比如DEX或NFC为主导的游戏?
Are you planning to release something new such as DEX or a game where NFT's play a lead role?
**nex：**
We don't believe there is a need to have so many DEX's. A space with SmartBCH's size can only support up to 3 DEX's and there are already more than that. Anything more is unnecessary and will eventually disappear.
Crypto games have quite a few issues as well. Firstly, most Play-to-earn games create their token first, fund it and then start developing the actual game. This is a mistake. A videogame should be built as a game first and foremost, and then introduce the crypto economy. That's why there are currently no fun crypto games on any blockchain. They are all an excuse to sell NFT's and if you took away the crypto rewards, no one would play them. To make a successful Play-to-earn game you need a big budget, a lot of time and the right vision.14:07
我们认为没有必要有这么多的DEX,SmartBCH的空间最多只能支持3个DEX，而且已经有更多了。任何更多的都是不必要的最终都会消失。
加密游戏也存在一些问题。首先，大多数游戏都是先创建代币为其融资然后开始开发游戏，这是一个错误。首先，电子游戏应该是游戏，然后引入加密经济。这就是为什么目前在任何区块链上都没有有趣的加密游戏。它们都是出售NFT的借口，如果你拿走加密奖励就没有人会玩它们。为了创造一款成功的游戏，你需要投入大量预算、时间和正确的愿景。
xia:
五：未来几年，POTA将如何改变SmartBCH领域的格局?您和团队对未来区块链世界的看法是什么?
How will POTA change the landscape of the SmartBCH space in years to come and where do you and the team see the world of blockchain being in the future?
**nex：**
We believe all blockchains need a fun token that doesn't take itself too seriously and is always there to entertain people and make them feel welcome. This is what we're aiming to do with POTA now and in the future.
The vision we have for SmartBCH is to help make it the main competitor of Ethereum & BNB Chain, as well as attract people that want a cheap, fast and decentralized EVM platform. For that to happen we need projects like POTA that are easy to explain and fun to be part of without getting into complicated whitepapers, weird transaction fees and burn mechanics.
我们相信所有的区块链都需要一个有趣的代币，它不太把自己当回事，总是在那里娱乐人们，让他们感到受欢迎。这就是我们现在和将来要用POTA做的事情。
我们对SmartBCH的愿景是帮助它成为以太坊和BNB Chain的主要竞争对手，并吸引那些想要一个廉价、快速和去中心化的EVM平台的人。为了实现这一点，我们需要像POTA这样容易解释、有趣的项目，而不需要复杂的白皮书、奇怪的交易费用和燃烧机制。
xia:
六：是什么让你对中国社区和BCH Swarm产生了兴趣？
What got you interested in the Chinese community and BCH Swarm
**nex：**
We admire the Chinese people's technological advancements and crypto adoption, which made it essential for us to connect with them. Sadly, the language barrier is making this hard, which is why we're collaborating with BCH Swarm on Telegram for this AMA. They have a big and strong community and can help spread the good word of SmartBCH to a lot of people that only speak Chinese.
我们钦佩中国码农的加密技术和应用拓展，这使我们与他们的联系变得至关重要。遗憾的是语言障碍让这变得很困难，这就是为什么我们在Telegram上与BCH Swarm合作这个AMA。他们有一个强大的社区，可以帮助把SmartBCH的好口碑传播给更多会说中文的人
@bchswarm
