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Sea: the best footnote of public chain evolution is survival of the fittest

Time : 26/06/2021 Author : bk3io1 Click : + -
        It has been more than half a year since 2020, and the public chain industry looks ordinary on the surface. However, in the calm, the players in the public chain industry are undergoing earth shaking changes. They have struggled to find landing scenarios and compete for DAPP development team, with little success. Faced with such a situation, some public chains now turn their focus to marketing and secondary markets, and some public chains turn their focus to enabling physical industries, moving away from each other. But just like Friedrich, a German philosopher · Nietzsche's aphorism "those things that can't kill me will only make me stronger" may become the best portrayal of the evolution of the public chain.
        As the underlying protocol of blockchain, public chain is the "operating system" of blockchain world. A large number of public chains have been born in the past two years. They claim to achieve large-scale application, and have taken a series of measures to compete for DAPP development teams. Some rely on technical advantages to attract, and some rely on financial advantages to win over, but there are few active dapps in the end, and even Star Public chains such as Ethereum and EOS are embarrassed. After the exploration of public chain 1.0 bitcoin and public chain 2.0 Ethereum, public chain 3.0 is focusing on solving the problems of system scalability, security and regulatory compatibility to carry large-scale commercial applications.
        In the era of 3.0, the commercial public chain is the real protagonist. Sea public chain, which is positioned to provide empowerment for maximizing the commercial value of nodes, integrates commerce and blockchain for the first time, creating a new ecosystem of node economy, standing on the trend of blockchain 3.0, and its evolution reflects the new direction of development of the whole public chain industry. Sea was initiated by the Singapore V foundation in the first half of 2019. At almost the same time, it reached a strategic cooperation with the well-known domestic enterprise PwC group. The enterprise blockchain field already has mature public chain and alliance chain technology, blockchain e-commerce technology, blockchain exchange technology, blockchain cloud service technology and other leading patented technologies, providing the underlying core technology support for sea public chain.
        Then, compared with most blockchain projects starting from scratch, sea has obtained extremely good initial resources, which can not only greatly save development time and resources, but also obtain more reliable technical support than most blockchain projects. It can be said that sea was born with the "golden key". For any public chain, the prosperity of the application ecosystem is its greatest value. However, due to many reasons such as low performance and high cost, Ethereum is not suitable for commercial application scenarios, except for the token issuance represented by erc-20. For example, Ethereum requires a high gas cost per transaction, which will lead to its inability to be used in scenarios with a large number of users.
        Since its birth, sea has started from node commerce, positioned as the world's first public chain dedicated to the real economy, and strives to create a global value exchange ecosystem. From the technical point of view, sea adopts the main sub chain multi chain structure, and is based on dpos (share authorization certificate) +vrf (verifiable random function) +bft (Byzantine fault tolerance) integrated consensus algorithm. In the 2019 public chain performance TPS test of China Academy of communications, sea ranked higher than the processing capacity of Tencent and Alibaba public chains, laying a good foundation for the next step of application ecology expansion. After the main online line in July this year, sea immediately regarded promoting the implementation of more dapps as the first priority. The business scenarios that sea public chain can implement include traditional business traffic value-added, distributed e-commerce, distributed finance, distributed live video, distributed social networks, distributed games and other diverse fields.
        However, in the past two years, a large number of public chain main networks have come online, and all parties are competing for competent DAPP developers. However, how to motivate developers to be active in their own public chain for a long time, which scenarios are more suitable for giving priority to promoting development, and how to really promote the landing of DAPP in real scenarios, all parties are actually very inexperienced, and there are holes everywhere. "In fact, many traditional enterprises hope to improve the competitiveness of their businesses through blockchain technology, but their specific needs vary, and they are not familiar with how to develop blockchain technology." The head of sea ecology said bluntly. As Zhu Youping, the first person of chain reform, said, chain reform creates a new and efficient economic system; In the future, the chain reform, together with the blockchain distributed ledger and financing function, will replace industrialization + corporate system + IPO, which is a new hope for the economic growth of digital technology and digital economy.
        Unlike the conventional measures that many public chains try to attract third-party developers to develop applications through high bonuses, sea public chain has embarked on the path of chain transformation to empower traditional enterprises, providing full stack chain transformation services such as digital asset management systems, wallets, business model design, economic model design, community construction and operation solutions, and comprehensively helping enterprises transform and upgrade. The chain reform scheme has been verified in many fields, among which Shaanxi jinggutang pharmaceutical and qizuan Zhixin mall, as one of the first batch of key entity projects of blockchain transformation of sea, apply blockchain business thinking to realize economic model innovation, so as to enhance the upstream and downstream Collaborative Value of the industry, reconstruct the business model, solve the problem of enterprise financing and loan, and explore a system, perfect, efficient, easy to replicate Truly operable digital transformation path.
        "The energy brought by chain reform is the power of famine and flood. We will continue to give full play to our rich industry experience and leading underlying technology, promote the establishment of a new decentralized, friendly and mutually beneficial node business model, and fully empower physical enterprises to deepen blockchain transformation and share digital economic dividends." The head of sea ecology said. Nowadays, the development of blockchain technology is still very early, and there are not enough excellent talents and teams. How to judge the feasibility of business blockchaining and how to achieve compliance are difficult problems for all public chains, and more exploration and experience are needed. "Most of our team are immersed in technology and the ecological development of public chain business, and they don't pay much attention to marketing, and there are not enough interactive dialogues with the outside world, which actually leads to the public's insufficient understanding of sea public chain. In this case, although we have been actively expanding partners, the community consensus construction of sea still has a long way to go.
        ”The head of sea ecology pointed out. The market downturn has a great negative impact on the public chain. Last year, the entire encryption asset market entered a cold winter, and the value of digital assets held by the public chain team also decreased significantly. Perhaps, this is also the uncertainty of the public chain as a new species, which is doomed not to be smooth sailing. As an open economy, the public chain is a new thing. It is not a thing that can create value by short-term speculation, but requires team members to operate it as a long-term business. Although speculation has an impact on short-term price fluctuations, it is only a zero sum game. According to the person in charge of sea ecology, the whole industry is still in a golden age: immature technology, distorted market form, lack of sustainable business model, lack of supervision, and a strong atmosphere of speculation and profit &hellip& hellip; In such an environment, it is difficult for any project to be completely independent. For sea, some pain in the development process is a necessary price.
        How can the public chain create value? 2020 is regarded as the "first year of defi", and thousands of defi (decentralized Finance) projects have emerged in the market to compete. At the same time, the public chain, which has been silent for a year, has begun to compete. Although in the new round of the defi circuit, the public chains are actively building the defi ecosystem, and have achieved immediate results by attracting the wool party through "liquidity mining", this practice is easy to abandon the basics without strong technical support. Even with the attraction of arbitrage, users will still vote with their feet. Public chains are betting that the competition behind defi will still be very fierce. More and more public chains will join the defi track, and the head effect will become more obvious. Who can run out of the "window period" of defi still needs time to test.
        "Our team has always had a goal, that is, to use blockchain technology to serve physical enterprises and people's lives, and to use blockchain technology in the scene of creating value. If it is all around marketing and hype, it will go against our original intention of building a public chain." The head of sea ecology said. This is bound to be a difficult process, but after experiencing various puzzles in the industry in the past year, the sea launched by the main website in July has opened the door to the new world. Sea has evolved at many levels: its strategy is clearer, its goal of evolving into a commercial public chain is firmer, and its understanding of the industry is more thorough, which can help sea walk more steadily and solidly on the next path.
        From the perspective of horizontal comparison of the whole industry, the sea team is now in a good or even leading position in terms of technical reserves, business exploration and other aspects. Once the innovative application direction is implemented on a large scale, it will be a major milestone in the development of domestic blockchain, and the acceleration of chain reform is more likely to be the next domino, making the token value into another madness. Looking at the giant companies in today's business world, almost all of them have experienced strategic mistakes and even critical moments of life and death. Mainstream blockchain projects have also experienced many rounds of bull and bear conversion. For a young "dark horse" like sea, the growth path must be a spiral, and the key is how to learn lessons and turn them into motivation and inspiration.
        As Nietzsche said, those who can't kill me will only make me stronger. Both project parties and investors should move forward with this mentality.
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