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Usechain Cao Huining: a real practitioner of blockchain community

Time : 26/10/2021 Author : qbmhlt Click : + -
        Professor caohuining, founder and CEO of usechain, Once said in an interview: "Our name is usechain. Although our name is a bit old-fashioned, it is very real. We just hope to make blockchain technology serve the ordinary people. We hope to use this new technology to do some practical applications, and solve the problems of credit investigation, confirmation of rights, certification, records and so on in society. Our team composed of professors of Finance and economics hopes to implement things and carry out project research and development on the premise of compliance. Obviously , the current blockchain technology is a little biased ". In 2008, a mysterious cryptography geek with the pseudonym of Nakamoto released a white paper, marking the beginning of the blockchain 1.0 era.
        In 2011, Satoshi Nakamoto gradually faded out of the community. When he finally appeared, he left a sentence, "I began to do something else", and then disappeared. But he left the community to us, whether it made it better or worse. Subsequently, the traditional concept of "community" was gradually mentioned and valued by more and more people in the blockchain ecosystem, and community construction also began to become a must for all blockchain institutions. Where there are people, there are interests. The more people love blockchain, the more greedy the ugly minds of the community and the outside world are. What Nakamoto didn't think of was that pow reward mechanism made the product of "mining tyrants" appear in the market, resulting in "51% attack" on computing power enrichment, which made the original decentralized design become specious.
        As a true practitioner of the blockchain community, Professor Cao Huining has repeatedly mentioned the need to return the blockchain to the early era of everyone's participation and realize Nakamoto Cong's original intention when explaining the consensus algorithm rpow mechanism created by usechain. 1. The rights of each full node are equal, and it is impossible to predict who will be next; 2. Increase trust through distributed accounting and distributed verification;. 3. The probability of computing power to mining should be controlled at 2-5 times, that is, when the computing power is too large, the probability will be saturated, so as to avoid 51% computing power attack and decentralize the distribution;. 4. We should put forward plans for the actual social pain points, and do things that can't be done by centralized institutions, or things that cost a lot for centralized institutions to solve;.
        "POW is a genius design, but it also has weaknesses. The weakness is that it can be monopolized through computing power." Professor Cao Huining recalled that Nakamoto's perfect design was concentrated by the roasted cat with ASIC. Roast cat was a student in the junior class of the University of science and technology of China. Later, he went to Yale to study for a doctor and came back halfway to design a mining machine to calculate hash numbers. The mining machine he designed was thousands of times faster than others, and soon occupied a significant proportion, so it formed a competition for computing power. Pow, POS, Poa, dpos and other consensus mechanisms have their own advantages and disadvantages. Professor Cao Huining believes that a new consensus mechanism is needed to improve the current situation. Let's take a look at usechain's innovative identity based consensus algorithm rpow (randomizedprofofwork):.
        1. Rpow combines the pass master account information with verifiable random functions to generate a verifiable random number, which can resist hacker attacks to a great extent;. 2. Convert the personalized random number and a public random number into a predetermined weighting system to allocate the hash difficulty according to the random number. In this way, mining nodes will be reduced and energy consumption will be reduced;. 3. Rpow adjusted the mining weight. Mining is contrary to the early successful cases, which greatly reduces the correlation of computing power in the long run and achieves real equalization and decentralization. In short, if you have never mined before, you will have a high probability of obtaining the next mining right, avoiding the concentration of mining rights and 51% attack.
        Rpow is based on usechain identity mapping system. Beyond the traditional technical framework, using identity empowerment technology is a new innovation of consensus algorithm, which enables blockchain to realize Nakamoto's vision and serve the community. "We have achieved equality and decentralization." Professor Cao Huining said faintly. "We hope to build a blockchain that can be used as a chain, rather than endless hype. The most important thing about blockchain is that the community is everyone. We work together to build trust and maintain credit. All public chains belong to the community, so usechain is also community.". From the junior class of China University of science and technology, to the University of California, and then to Cheung Kong business school, all the way to study and preach and teach, modest scholars are everyone's label for Professor Cao Huining.
        This time, he got into the "muddy water" of blockchain, and a little carelessness may damage his reputation. It can't help but make people wonder, what was his original intention to enter blockchain? "Many people ask me why I come out to start a business now." Professor Cao Huining recalled, "I left home at the age of 12, and it will be 40 years as soon as possible now. I am an untimely person. When I was 12, my classmate was 18 or 19 years old, and now I am in my 50s. I compete with others in my 20s, so I am always different from others. I have reached the age of knowing my destiny, and it is incumbent on me.". As early as 2011, Professor Cao Huining came into contact with bitcoin in the Shenzhen Financial MBA program. With his unique vision and keen market insight, he focused on the blockchain industry.
        At present, the direction of the whole blockchain is too short-sighted. Professor Cao Huining said that he hoped that through some methods, blockchain technology could be truly applied and could produce value to society. He believes that this is something we must do in this era. This is a technology that may be more valuable than the Internet itself, especially in the financial industry, because the financial industry is an industry of trust, and blockchain brings us trust among strangers, which is very important. Finally, usechain appeared in public after careful consideration. Professor Cao Huining is forming a super team with outstanding people from Columbia University, University of Southern California, Stanford University and other top American universities.
        "We come together mainly for the sake of our ideals. We hope that we can also reach the realm of Nakamoto Cong, retire with success, and give the blockchain to the community without any money." Cao Huining said.
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