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Bitcoin market trend, how to understand the parallel thread of blockchain?

Time : 26/09/2021 Author : nmyhz6 Click : + -
        At 0:00 on the 21st, bitcoin, which had been trading sideways for several weeks, suddenly rose from about $42000 to $43000, and then fell one after another. On January 21, the latest quotation of bitcoin was $38786, down more than $3000, with a 24-hour decline of 7.1%. Up to now, the price of bitcoin is $34603. As we all know, the value of bitcoin is based on blockchain technology, and parallel thread is the concept that parallel chain temporarily participates in (block based) Boca security without renting a dedicated parallel chain slot. On January 18, the old encrypted asset trading platform Ouyi announced that it was officially renamed "Ouyi OKx". As one of the world's earliest cryptoexchange, Ouyi OKx has invested in hundreds of blockchain projects around the world and witnessed the rise of decentralized finance, NFT and metauniverse and the infinite possibilities it brings.
 
        A portion of the parallel chain slots on the relay chain will be designated as part of the parallel thread pool. In other words, some parallel chain slots will not be attached with parallel chains, but will be used as a space so that the winners of the parallel thread cost auction in block by block can include their candidate blocks. The organizer will provide the bid specified in dot to include parallel thread block candidates. The relay chain block generator can select a block containing a parallel thread from these bids. Obviously, their motivation is to accept the candidate block with the highest bid, which will bring them the maximum profit. The pass from the parallel thread bid may be divided into 80-20, which means that 80% of the part goes to the Poka Treasury and 20% to the block generator.
 
        This also applies to the splitting of transaction costs, and like many other parameters in Boca, it can be changed through the governance mechanism. From a development perspective, parallel chains and parallel threads are very similar. It is conceivable that the chain developed with substrate can present one of the following three states at different stages of its life cycle: independent chain with safe bridge, parallel chain or parallel thread. It can switch between the latter two states with relatively minimal effort, because the difference is more economic than technical. Parallel threads have exactly the same benefits as complete parallel chains in connecting to Boca.
 
        In other words, it can send messages to other parallel chains or parallel threads through xcmp, and is guaranteed under the complete economic security of Boca's verifier set. The difference between parallel chains and parallel threads is economic. Parallel chains must be registered in the normal way of Boca, such as through governance proposals or parallel chain slot auctions. Parallel threads have a fixed registration fee, which is actually much lower than the cost of obtaining parallel chain slots. Similar to dot being locked during the parallel chain slot and then returned to the winner of the auction, the deposit of the parallel thread will be returned to the parallel thread at the end of its term. In addition to registering the parallel thread code to the trunk chain of Boca, registering parallel threads does not guarantee more.
 
        When a parallel thread makes progress by generating a new block, it must pay a fee to participate in the auction of each block to be included in the verification of the next relay chain block. All registered parallel threads are auctioning for their parallel threads to be included in the progress. There are two interesting observations about parallel threads. First, because they compete on a block by block basis, they are similar to the way in which transactions are included in bitcoin or Ethereum. Therefore, a similar cost market may develop, which means that the price of parallel threads will rise during busy periods, while the cost will be lower when there are few activities. 2、 This mechanism is obviously different from the parallel chain mechanism. As long as the parallel chain mechanism holds the parallel chain slot, it ensures the collection; Parallel thread registration does not grant parallel threads such rights.
 
        
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