Comparison of popular public chains (41-46)

41. AR（Arweave）

1) Introduction

Since the launch of the Arweave mainnet in June 2018, network usage has grown exponentially. From hosting over 300 sites and applications to keeping important cultural and historical data in the immutable Library of Alexandria, Arweave's dynamic community continues to grow. Growth accelerated further this summer with the launch of the Profit Sharing Token in June and the Profit Sharing Community in August.

Profit Sharing Communities (PSCs) are an innovative business model for decentralized networks that provide sustainable incentives for founders, developers, community contributors, and users alike.

The past month has seen an explosion in PSC growth: 15 major new communities have launched; nine projects are in talks with the world's leading venture capital funds; seven projects are closing their first rounds of funding; Project has released over 25 new, fully funded donation opportunities

Arweave is the network that powers the permaweb. With Arweave, you can pay once and store your data forever. Two unique mechanisms make this possible: Proof of Access and Data Storage Endowment。

2) Cause

Learn exactly how Arweave's core functionality enables permanent data storage, and how this in turn powers the profit-sharing community ecosystem.

3) Value

Profit-sharing communities are a new, fairer structure for web startups, thanks to the unique capabilities of the Arweave protocol. These communities give founders more control and flexibility over their projects, while empowering the contributors to those projects.

In traditional startups, employee-owned equity is unlikely to become liquid in the short term, governance rights (which are reserved for board members) are not granted, and dividends are almost never paid.

By contrast, all profit-sharing community contributors receive tokens that give them fair governance, instant liquidity, and small dividends from using the app. You can discover the various communities launched so far on communityXYZ, the profit-sharing community hub.

In order to compete to mine a block, miners must prove that they have access to randomly selected bytes from the previous block of stored data. To do this, miners must generate a block containing the selected bytes, as well as a proof that the block is in the proper place in the block weave. Therefore, miners are incentivized to store as many unique blocks as possible to ensure that the data is widely replicated.

When you pay to store data on Arweave, you pay upfront for 200 years of storage. That sounds like it should be expensive, but data storage is so cheap that 200 years of megabytes can be stored for just $0.005 using Arweave. The reason it is so cheap is because the cost of storing data is constantly decreasing due to various improvements in technological innovation. Arweave's data storage donation mechanism leverages this fact to provide affordable permanent storage. As storage costs fall over time, the initial upfront payment earns interest in the form of additional storage purchasing power.

Storage costs have declined at an average rate of 30.5% per year over the past 50 years. However, the Arweave network uses an extremely conservative estimate for the decay of storage costs, assuming a 0.5% drop per year. This ensures, with a high probability, that funds are always available to pay for data storage. You can read more about storage endowments here.

Together, these mechanisms allow anyone to store data permanently on the Arweave network. In addition to providing a verifiable, immutable record of important historical or cultural data, there are other benefits to using permaweb.

For application developers, using permaweb means that published web applications require zero ongoing maintenance and no additional charges after deployment. For users, this means that the Arweave apps you use (and all previous versions of those apps) will always be accessible. If a website or app embeds intrusive ads or publishes a new version that collects your data to sell to third parties, you can simply continue to use the previous version of the app.

4) Public chain comparison

Compared with the Filecoin public chain:

a. Filecoin needs no introduction, it is synonymous with the current "decentralized storage network". As the name suggests, the project aims to provide data storage in a decentralized manner. Its mainnet went live on October 15, 2020. The project was founded by well-regarded R&D firm Protocol Labs. Protocol Labs is also the driving force behind the development of the interplanetary file system IPFS, Multiformats, Protoschool, etc. Arweave. Arweave is a decentralized storage network designed to provide a platform for indefinite storage of data. Describing itself as a "collectively owned hard drive that never forgets," the network features a "permanent network" — a permanent, decentralized network with many community-driven applications and platforms. The Arweave network uses the native cryptocurrency AR, paying “miners” to store network information indefinitely.

b. Storage solutions, Filecoin and other contract-based decentralized storage protocols (Sia, Storj) compete mainly on cost. They claim to be able to offer lower costs than centralized providers (Amazon, Alibaba, etc.) because they utilize otherwise unused hard drive space. These networks also offer greater censorship resistance than traditional cloud storage providers. The Arweave protocol treats permanent storage as a deliverable service. It does not do this by creating contracts between users and storage providers like Filecoin, but by creating cryptoeconomic incentives for miners to replicate as much data as possible. Persistent data storage is an entirely new service that Amazon, Google and others can't offer.

c. Economic model, Filecoin's economic model is similar to that of a centralized cloud provider: contract-based storage. Contract-based storage can be thought of more simply as a pay-as-you-go model. Users pay a network of nodes that store X bytes of data for Y time period and guarantee Z retrievability. Arweave introduces to the market an entirely new economic model that was not possible before the advent of permissionless encrypted networks: permanent storage. With permanent storage, users can store data forever for a one-time upfront fee. Permanent storage has created a whole new market, but overall, the market seems too niche. The Arweave protocol does this by leveraging cryptoeconomic game theory and compensating miners for ensuring data availability, reliability, and durability.

d. We can be sure: the more applications Solana sees in the NFT space, the more applications Arweave gets. However, from the perspective of the entire ecological assessment, Filecoin deserves more attention. The Filecoin team has built the Interplanetary File System (IPFS) and CoinList. IPFS was designed to go along with Filecoin, demonstrating the team's ability to create large-scale digital infrastructure, while CoinList showcased their ability to create fully functional user-facing applications. Both of these characteristics will be the most important factors for success.

42. CHZ（Chiliz）

1) Introduction

Chiliz is the leading digital currency in sports and entertainment by the eponymous Maltese fintech provider. It operates Socios, a blockchain-based sports entertainment platform that enables users to participate in the governance of their favorite sports brands. Socios.com's multiple fan tokens are one example. For sports clubs and associations, Fan Tokens provide a way to connect with fans and unlock new revenue streams.

2) Cause

For sports clubs and associations, Fan Tokens provide a way to connect with fans and unlock new revenue streams

3) Value

Each sports organization using Chiliz technology has a limited supply of Fan Tokens at the initial FTO (Fan Token Offering). The tokens are offered on a first-come, first-served basis, and Chiliz discloses the opening price and fully diluted market cap in advance. The native CHZ token is used to buy Fan Tokens and acts as the platform's internal currency. Fans can then use their Fan Tokens to vote on the Socios platform, a process made possible using smart contracts. The club determines the influence of the fans. Decisions range from new jersey designs to deciding team matchups in exhibition games.

Chiliz has pioneered the direct involvement of ordinary sports fans in the decision-making process of clubs and organizations. The company continues to create new ways for fans to engage, exemplified by the establishment of Chiliz Blockchain Campus, a private cryptocurrency incubator focused on accelerating blockchain technology adoption in Asia and Europe. The company estimates its potential to be around 10%, although it may have 80-100 teams as part of its network by the end of 2021.

4) Public chain comparison

Compared with other public chains:

CHZ is available on multiple blockchains such as Ethereum, Binance Smart Chain and Tron. Fan tokens are minted on its Socios sidechain through a proprietary crowd control mechanism, so fans are in a protected environment and vote only in publicly audited polls. Sidechains use a proof-of-authority consensus mechanism. Proof-of-authority is mostly used by private organizations with closed blockchains and participation only by users within their ecosystem. It is not as decentralized as other consensus mechanisms, but is easily scalable and highly secure, making it ideal for sidechains. CHZ token has been audited by Certik.

43. HT（Heco）

1) Introduction

As a public chain, Heco has a TPS speed of 500+ and a block time of 3 seconds. It adopts the HPoS consensus mechanism, which has the characteristics of low transaction cost, low transaction delay, and high transaction concurrency. The maximum number of validators supported is 21. .

Heco's on-chain native token is HT (Huobi Global Integral Points). The transaction consumes HT as an on-chain transaction fee, and becomes a validator routine by staking HT. The rewards are distributed according to the pledge ratio in turn, and the reward is the transaction fee on the chain.

In addition, Heco supports cross-chain, and through the asset cross-chain bridge, assets such as ETH, BTC, and stablecoins can be mapped to Heco. The method is to lock a certain amount of assets on the source chain and generate a corresponding number of tokens in Heco. Heco encourages community developers to provide more decentralized cross-chain solutions.

2) Cause

Huobi Ecological Chain (Heco) is a decentralized high-efficiency and energy-saving public chain, and it is also the first product launched by the Huobi Open Platform. On the basis of supporting high-performance transactions, it realizes the compatibility of smart contracts. Heco aims to help developers in every stage of their growth, relying on the world's largest trading ecosystem, and is committed to becoming the birthplace of innovative technologies and innovative businesses, building a complete ecological closed loop of technology development, application promotion, and trading.

3) Value

On December 21, 2020, the mainnet of the Huobi Ecological Chain was officially launched, and the first phase of "Tinder" was launched simultaneously. This stage will focus on improving the infrastructure on the chain, including but not scheduled: oracles, voting tools, anchor coins, DEX, lending, wealth management, insurance, synthetic assets, cross-chain solutions, data analysis, smart contract innovation, etc. Wait.

More than a month after the mainnet was launched, the number of protocols on the Heco chain has reached 60, covering a variety of decentralized financial scenarios such as stablecoins, DEX, lending, and NFT. In addition, the total amount of mainstream assets locked on the Heco chain exceeds 1.4 billion US dollars, the daily transaction volume on the chain exceeds 1 million, and the number of non-zero addresses exceeds 1.84 million.

Huobi Ecological Chain Heco Support Plan

To sum up, the development of the public chain will focus on DeFi in the future. At present, DeFi is mainly developed around Ethereum, but the performance of Ethereum is not good enough. In order to promote the development of the industry, Heco was born. On the one hand, Heco provides developers with a more convenient development environment. On the other hand, Huobi has launched a Heco support plan for the Huobi ecological chain, including financial support plans, traffic support plans, and resource support plans.

Specifically, the financial support plan Huobi ecological chain Heco will establish a special fund to invest, support, and motivate high-quality developers, and will launch a variety of developer activities and competitions to explore and fund global potential developers. Participation costs on Dapp, the Heco meta-transaction function will reduce the handling fee for users who hold HT in a step-by-step manner

BAGS and MDX in the Huobi ecological chain Heco can also perform as the first two projects passed. BAG has been adopted by many Heco ecological projects. By deeply binding these ecosystems, BAG has gradually become the underlying stable currency in the Heco ecosystem like USDT is in the crypto market, entering a stable stage of well-ordered development. According to the data monitored by http://DeFiBox.com, 6 days after Mdex went live for mining, the TVL exceeded 1 billion US dollars, the total pledge volume of the liquidity pool (LP) exceeded 1 billion US dollars, and the 24-hour transaction volume exceeded 1.3 billion US dollars. More than the total daily trading volume of Uniswap and SushiSwap combined

4) Public chain comparison

Compared with the BSC public chain:

The launch of Huobi Ecological Chain (Heco) and Binance Smart Chain (BSC) has once again set off a wave of DeFi upsurge. Compared with UniSwap, the lower gas fee also allows more users to participate. Currently, UniSwap, MDEX, PancakeSwap has occupied a place in DiFe and has become the leader of the current decentralized exchange. Various projects are blooming, and there is no shortage of scams.

a. And the Huobi ecological chain Heco adopts the HPoS consensus mechanism to pledge HT to become a validator node, and the node reward is also HT. Therefore, the launch of the Huobi ecological chain Heco can largely pull the HT. According to the currently announced roadmap of the Huobi Ecological Chain, it is divided into four stages: Tinder, Spark, Raging Flame, and Liaoyuan. The Tinder stage allows developers to develop at a low cost and users to participate with a low threshold. The ecological infrastructure in the Spark stage will be relatively complete, "taking the mission of connecting CeFi and DeFi". The flame phase will enable cross-chain interoperability, starting in the second quarter of 2022. In the Liaoyuan stage, larger-scale commercial applications and implementation will be supported to support the smooth operation of various traditional businesses on the chain. The implementation stage is expected to be in 2023.

b. Decentralized exchange: MDEX, MDEX is the DeFi project with the highest lock-up volume in the Huobi ecological chain, and is currently the largest decentralized exchange (DEX) in the Huobi ecological chain. It is positioned as Uniswap in Ethereum. similar. After the launch of MDEX, it quickly attracted the attention of the market with its ultra-high annualized mining rate of return. The most striking one was transaction mining. The annualized rate of return once exceeded 100,000%, making it the most profitable mining pool in the DeFi industry. In addition, in order to meet the needs of users with different risks, MDEX also supports liquidity mining. In the early days, it also supported the use of ETH, USDT, HT and other single currencies for single-currency mining, and the rate of return once exceeded 50%. At present, the total liquidity of MDEX exceeds 1.7 billion US dollars, the average daily trading volume is as high as 4 billion US dollars, and it supports 13** trading pairs, which is the well-deserved NO.1 in the Huobi ecosystem.

c. BSC is an Ethereum virtual machine compatible blockchain, a test and frontier exploration of top projects in the crypto asset industry. The launch of BSC will greatly improve the efficiency and application scope of Binance Chain and BNB. By introducing the Proof of Stake Authority (PoSA) consensus mechanism, BSC creates a validating ecosystem that allows nodes, token holders, developers and users to all benefit from the blockchain, enjoying higher performance and abundance innovation space. To put it simply, Binance Smart Chain is somewhat similar to Ethereum. Binance Smart Chain currently mainly serves the Binance DeFi ecosystem, which is no different from Ethereum's DeFi! To put it simply, Binance Smart Chain is what Binance came up with to grab the cake of the DeFi ecosystem.

d. PancakeSwap is currently the largest decentralized exchange (DEX) in the BSC smart chain, with a locked-up amount of US$3.3 billion and an average daily trading volume of over US$900 million. PancakeSwap also adopts the currently popular AMM trading mechanism, which is similar to Uniswap. Liquidity mining (Farms), users can provide liquidity in PancakeSwap to obtain handling fees and mining income, the handling fee is 0.2%, and mining can earn an annualized rate of return of about 100%, supporting more than 50 trading pairs, Most of them are based on BNB. Mining (Pools), Pools can be understood as pledge mining, that is, pledge a single currency for mining, support many new Binance coins, and the annualized rate of return is between 60% and 100%.

44. OKB（OKExChain）

1) Introduction

OKExChain is a 100% open source launched by OKEx. All codes are open and transparent. It is a public chain with open nodes. Anyone can run to become a super node of OKExChain. Compared with some "fake public chains", OKExChain is a completely decentralized public chain. It gives every participating node the right to have the same status, complete community autonomy, and anyone can create and issue digital assets based on OKExChain.

2) Cause

OKExChain has built a high-performance public chain for transaction scenarios.

3) Value

The throughput on Etheruem is not high, it can only pass 13-15 transactions per second, and a transfer usually costs a few dollars in handling fees, while OKExChain is based on the Tendermint consensus mechanism, an efficient consensus engine that supports Byzantine Fault Tolerance (BFT). It has the characteristics of high performance and consistency, and can achieve a transfer speed of over 1,000 transactions per second on a single chain, which can provide DeFi with a higher-speed infrastructure, and the cost of each transfer is lower, which greatly reduces the cost of DeFi developers and participants. Barriers to entry.

As the first stop of DeFi token trading, DEX is also the king of this round of DeFi applications. OKEx deployed DEX early in the morning, and is committed to comprehensively improving users' DEX trading experience, lowering the entry threshold for DEX, and allowing users to have higher asset autonomy right. OKExDEX, as the first project of the OKExChain ecosystem, is a middleware that can freely issue DEX. Users can issue tokens, create currency pairs, create liquidity pools, participate in AMM or orderbook without tedious steps and "fool-like" operations. Transactions, support Windows, MAC and other operating systems. With the further development of OKExDEX, oracles will be supported in the future, which will further support liquidity or order book transactions of various derivatives such as leverage and perpetual contracts.

OKExChain will soon support EVM and be compatible with all smart contracts of Ethereum, which means that OKExChain can undertake more high-quality projects on Ethereum, and these projects can be successfully run on OKExChain with short-term deployment.

In addition, OKExChain is built based on Cosmos' Tendermint mechanism and Cosmos SDK. Cosmos' cross-chain interaction protocol IBC, combined with the instant certainty of the Tendermint consensus algorithm, can realize value transmission between blockchains, support heterogeneous cross-chains, and solve the problem of multi-directional value circulation. OKExChain will launch a cross-chain gateway to support the migration of various mainstream assets to OKExChain. In the future, it will also support the decentralized IBC cross-chain solution, and relayers will forward cross-chain transactions. The chain is independent, DeFi assets are not connected, and the chain switching operation is cumbersome.

4) Public chain comparison

Compared with the BSC public chain:

a. Binance took the lead in launching the Binance Chain (BC) in April last year. The Binance Smart Chain (BSC) launched in September this year made up for the shortcomings of BC’s inability to build smart contracts. Ecosystem of DEX, wallet, browser, community. OKEx has accumulated a lot, and OKExChain will be launched soon. It integrates the functions of users to independently develop Dapps, users to issue digital assets, smart contracts, and cross-chain functions. The OKEx public chain ecology consists of DEX, OKT, browsers, and communities. The public chains of OKEx and Binance are based on Tendermint and Cosmos SDK, and have many similarities

b. In terms of throughput, Bitcoin TPS is 7, Ethereum TPS is 15-25, and both OKExChain and Binance Smart Chain testnets have reached 1000. According to TxStreet statistics, the average block time of Bitcoin is 9 minutes, the average block time of Ethereum is 12 seconds, Binance Smart Chain has reached 5 seconds, and OKEx has shortened it to 1-2 seconds, which is slightly better. The decentralized public chain should be open source, but Binance Chain has not yet released the code, which is also a point criticized by Binance Chain.

c. Whether it is OKEX or Binance, they have chosen to build a public chain based on Cosmos. The biggest advantage of Cosmos is that it supports cross-chain, and each Zone (partition) is interconnected through the Hub (hub). Secondly, Cosmos separates the application layer and the underlying consensus, and provides the Cosmos SDK (Cosmos Development Kit), which is friendly to developers, and developers do not need to design the entire public chain. As OKEx CEO Jay Hao once said that public chain performance and decentralization are a balance. Bitcoin's network is the most decentralized, but its performance is the worst. A single center has the best performance but the worst decentralization. The weak center model of 100 validators in Cosmos is a balance between performance and decentralization, which is one of the reasons why OKEX and Binance have chosen Cosmos - both performance and decentralization, OKExChain and Binance Smart Chain Finally, the number of verification nodes is designed to be 21.

d. The cross-chain function brings great potential value to the public chain of the exchange. Binance's cross-chain is mainly reflected between Binance Chain and Binance Smart Chain, and the true potential of cross-chain has not been fully tapped. OKExChain will realize cross-chain value interconnection, user interconnection and scenario application interconnection, which means that digital asset projects on mainstream platforms such as Ethereum and EOS can be migrated to OKExChain. If OKExChain's blueprint is realized as promised, it will have a huge impact on the entire public chain ecosystem. The governance tokens adopted by the public chains of the two exchanges are quite different. The birth of a public chain is often accompanied by the use of new tokens. On the one hand, new tokens are one of the core elements for the normal operation of the public chain consensus mechanism. On the other hand, mortgage tokens can obtain voting rights and participate in community governance. OKEX issued OKT as a governance token, while Binance used its platform currency BNB. Binance uses BNB as the underlying token of the public chain. The main purpose is to increase the ecological application scenarios of BNB, thereby increasing the value of BNB. However, Binance's commercial considerations for BNB will have a serious impact on the future of the public chain: for a good economic system, its currency growth rate is required to meet the growth of total economic output, but there will always be tokens over time. The loss of , and the resulting deflation will inhibit the depression of the public chain economic system. For this reason, public chains such as Ethereum and EOS all adopt the design of inflation issuance. Due to the fixed amount of BNB issuance and the existence of a repurchase and destruction policy, the actual circulation of BNB has been declining. In the long run, the circulation of BNB on the chain will not be able to support the normal operation of the public chain, which will only lead to the Binance public chain. 's decline. However, OKEx took this into consideration when designing the public chain, and chose to issue OKT with inflation design to ensure the normal development of OKExChain in the future. In addition, in order to reward users for their long-term support for OKEx, according to OKEx CEO Jay Hao, OKB holders will receive 100% airdrop rewards from the OKT genesis block and pledge OKB liquidity to mine OKT. The launch of these activities will benefit the value of OKB. .

e. DEX is an important part of the public chain ecosystem. OKEx's DEX is OKExDEX, and Binance's DEX is Binance DEX. OKEx and Binance are professional exchanges. Their DEX interface is similar to the platform trading interface. They can display trading currency pair information, K-line chart, historical orders, etc., which are in line with user habits and are user-friendly. With the rise of AMM DEXs such as UniSwap and Balancer, exchanges such as OKExx and Binance have also begun to develop AMM-type DEXs on their own public chains. The biggest advantage of AMM-type DEX is that the model is simple, and by providing transaction fee rewards for liquidity providers (LP), it has attracted a large number of users. However, AMM-type DEXs also have several serious problems: the first is the price discovery function. Since the price of AMM is driven by liquidity, the transaction price is determined by the asset situation of the reserve pool, and the transaction principles such as "price priority" and "time priority" , resulting in AMM-type DEXs that can only generate transaction prices, but cannot find market prices. To this end, AMM has to introduce the important role of arbitrageur: once the price on the AMM platform is different from the fair market price, there will be arbitrage space and bring the price back to the right track. But this brings another serious problem---free losses. The existence of impermanent losses increases the risk of liquidity providers, and LPs must consider carefully when providing liquidity. Therefore, in a mature public chain, if only AMM-type DEX is used, it will not be able to achieve complete independence. Especially for those currencies that have not yet been listed on the order book mode exchange, it is easy for the bookmaker to manipulate the transaction price on the AMM DEX. For this reason, major exchanges have fully considered, not only supporting AMM-type DEXs, but also designing Order Book-type DEXs. Specifically, OKEx's OKExDEX adopts an order book matching system, and Binance's Binance DEX The periodic bidding matching algorithm is adopted, and the essence is centralized bidding for each block, and there are differences in the detailed design. Binance introduced the roles of Maker and Taker to participate in the periodic bidding of each block. If the order is accepted by the latest block, it can be confirmed. Otherwise, the order earlier than the latest block and not accepted will be cancelled. The price is fixed within a block, so the price is stepped.

45. DASH（DASH）

1) Introduction

Dash is an open source blockchain and cryptocurrency focused on providing a fast, cheap and decentralized global payment network. According to the project’s whitepaper, Dash seeks to improve on Bitcoin (BTC) by offering stronger privacy and faster transactions.

Dash takes its name from "digital cash" and was launched in January 2014 as a fork of Litecoin (LTC). Since its launch, Dash has grown to include features such as a two-layer network with incentivized nodes (including "masternodes") and decentralized project governance; InstantSend, which allows payments to be settled instantly; ChainLocks, which makes the Dash blockchain instantly immutable; and PrivateSend, which provides additional optional privacy for transactions.

2) Cause

Dash's goal is to "become the world's most user-friendly and scalable payments-centric cryptocurrency."

3) Value

Dash's goal is to "become the world's most user-friendly and scalable payments-centric cryptocurrency." To achieve this, the project relies on a network of masternodes, which are servers backed by collateral held in Dash, designed to securely provide advanced services and governance of the Dash proposal system. In exchange for a portion of the block reward, masternodes provide a second layer of services to the network. They facilitate features like InstantSend, PrivateSend, and ChainLocks.

Dash is sold to individual users and institutions, including merchants, financial services, traders, and those who need to send international money transfers. In October 2020, Dash Core Group reported that its strategic goals moving forward included building an ecosystem and brand, ensuring user satisfaction, and further advancing the technology behind the network.

Dash's governance system, or treasury, allocates 10% of the block reward for project development in a competitive and decentralized manner. This allows for the creation of many funded organizations, including the Dash Core Group. Additionally, the Dash Foundation, which advocates for cryptocurrency adoption, accepts donations and offers paid individual and institutional memberships.

Dash uses a two-layer network to secure its transactions. The first layer consists of nodes that perform mining operations under a proof-of-work consensus protocol, which means they compete to solve complex cryptographic problems, and at least 51% of nodes must approve a transaction before it can be added to the blockchain.

The PoW algorithm used by Dash is called "X11" - a custom hashing algorithm developed by Dash founder Duffield that uses a sequence of 11 hashing algorithms. According to Dash's documentation, X11 is "one of the most secure and more complex cryptographic hashes used by modern cryptocurrencies."

The second tier consists of masternodes operating under a proof-of-service consensus algorithm, where masternodes are rated based on their history of serving the network well. Masternodes oversee the network and have the right to reject new blocks added by nodes if the node approval is incorrect. They also enabled Dash's ChainLocks feature, which improves security as every 12 hours, a rotating set of masternodes observes and confirms all new blocks added to the blockchain. Dash's developers say this protects the network from 51 percent of attacks.

4) Public chain comparison

Compared with Monero and ZCash public chains:

a. Dash is based on the PoW proof-of-work consensus mechanism, the system uses two types of nodes on the network; "masternodes" and "miners". Masternodes provide instant send and private send functions. Instant Send allows masternodes to reach consensus within a second, resulting in irreversible transactions. "Private Send" uses shuffling techniques to mask the sender and recipient wallets of a given transaction. Since the network is proof-of-work based, there are also mining nodes to calculate the hash value in order to cryptographically secure the Dash blockchain. Block rewards are divided into three groups, 45% for miners, 45% for masternodes, and 10% for foundation. To continue developing and marketing the business, Dash will pay a "block tax". Dash relies on masternodes to send anonymous transactions, but this type of transaction is not required. Unlike Monero, where addresses and holdings are visible on the blockchain, transactions that are not executed using Anonymous Send may be audited. Mixing technology is a method of anonymizing transactions proposed by Gregory Maxwell. Mixing techniques are based on the principle of grouping transactions together to create joint payments. When making joint payments, it is impossible to link inputs and outputs in a transaction, preventing third parties from determining the direction and amount of the transaction. CoinJoin-based mixing methods increase privacy for all users, since all inputs to a transaction can no longer come from a single wallet and therefore can no longer be reliably associated with a single user.

b. Monero aims to be a private, untraceable currency. On Monero, the addresses involved in transactions and transaction amounts (including senders and recipients) are private on the ledger, which means wallet balances are also private. Monero achieves transaction privacy using a method called ring signatures (first used in January 2017 and authorized for all transactions after September 2017), an evolution of ring signatures. If there are no addresses and balances on the blockchain, merchants and individuals can hide their equity. Ring Signatures (RingCT): Monero's blockchain protects privacy in three ways. Ring signatures enable senders to hide in other transaction outputs, stealth addresses hide the recipient address of the transaction, and RingCT hides the transaction amount. Therefore, Monero has an opaque blockchain. This is in contrast to the transparent and traceable blockchain that Bitcoin uses. As such, Monroe is said to be "private, and optionally transparent."

c. Zcash payments are published on the public blockchain, but users can hide the sender, recipient and transaction amount using optional privacy features. Zcash allows anonymous transactions, but does not require them. As Wikipedia explains, "Transactions can be 'transparent', similar to Bitcoin transactions, in which case they are controlled by addresses starting with t, or can be a zero-knowledge proof called a zk-SNARK. Then , these transactions are called "covert" and are controlled by addresses starting with z. Zcoin is either in a transparent pool or a hidden pool. As of December 2017, only about 4% of Zcash is in a hidden pool, Most wallet programs at the time did not support z addresses, and no web-based wallets supported them. Big Zero offered private traders a "selective disclosure" option that allowed users to prove that payments were used for auditing purposes. One of the reasons was to allow private Traders choose to comply with anti-money laundering or tax regulations.” zk-Snarks: Zero-knowledge succinct non-interactive proof of knowledge is a technique that allows miners to verify transactions without knowing who sent or received tokens. Using cryptographic hashes, each party can prove that a statement is true without revealing the exact details of who sent what and where.

46. NEXO（Nexo）

1) Introduction

Nexo is a blockchain-based lending platform that provides users with instant cryptocurrency-backed loans. Users deposit acceptable tokens—such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or XRP (XRP)—as collateral to obtain loans in fiat currency or stablecoins.

Nexo has a native token, NEXO, which, when locked on the platform, gives users benefits such as discounts on interest accrued on loans and the opportunity to receive interest payments on deposits. Token holders also receive dividends from Nexo’s profits.

2) Cause

Provider of instant cryptocurrency-backed loans, it intends to address inefficiencies in the lending market

3) Value

The team behind Nexo has over 30 years of combined experience in financial services, including non-crypto lending, investment banking, M&A and hedge funds, co-founder and managing partner Antoni Trenchev also contributed to financial law and KYC and AML solutions middle.

Nexo, the first provider to offer instant cryptocurrency-backed loans, intends to address the inefficiencies of the lending market. Its automated lending process uses smart contracts and oracles on the Ethereum blockchain to manage loans. After the user transfers the cryptocurrency to a wallet controlled by Nexo, the oracle establishes the loan and the user receives the funds immediately. When a user makes a deposit to repay the loan, the oracle returns the cryptocurrency and records the transaction on the blockchain. Smart contracts are used to power NEXO and record user balances.

Nexo is sold to individual and institutional investors, cryptocurrency companies, exchanges, miners, and others who want liquidity from their assets. The company profits from accrued interest on loans and also provides institutional loans and advisory services.

Nexo seeks to build a user base of customers who continue to use the platform and continue to invest in NEXO. As such, the company announced a loyalty program that rewards those who deposit NEXO into their accounts, offering them favorable loan rates and higher yields on their savings. Nexo also distributes 30% of profits to NEXO token holders in the form of dividends.

Trenchev's public profile as Nexo's leadership has a proven track record in advocating for wider adoption of blockchain and cryptocurrencies, notably as a member of the Bulgarian National Assembly from 2015 to 2017, where he pushed for blockchain Chain Solutions' implementation of e-government services, as well as frequent commentary on crypto and digital finance related current affairs to mainstream media including Bloomberg, The Independent and CNBC.

Nexo currently serves over 1 million users in over 200 jurisdictions and manages over $4 billion in assets. The company currently has 150 employees and its management is based in London.

4) Public chain comparison

Compared with other public chains:

a. Its native token, NEXO, is an ERC-20 token issued on the Ethereum blockchain, which means that any on-chain NEXO transaction is verified and secured by the Ethereum mainnet using its Ethash proof-of-work consensus algorithm. Miners compete with each other to add new blocks to the blockchain, and a majority of all nodes in the network must verify records before publishing.