From distributed storage to Pekka distributed computing, mining or the mainstream of the future

Some time ago, due to the impact of the state's cleanup of mines, many people in Bitcoin, Ethereum, filecoin, Chia and other mining friends began to be anxious. Both to find available energy, but also to consider the future direction of development, according to the relevant statistics, for Bitcoin, China's computing power accounts for 65.08% of the global computing power, therefore, the implementation of this policy, the impact on the blockchain industry has a great impact, we can feel the seriousness of the situation from the degree of cryptocurrency price decline, such an action made the entire cryptocurrency circle take two months to ease up.

Why do countries do this? In my opinion, here are the reasons:

Without the emergence of real economic benefits, the destruction of ecology is not beneficial to society.

Projects like Ethereum for mining, not only need to buy expensive mining machines, but also equipped with the corresponding machine room, operation and technical personnel and many other resources, and the production is only some data, which is very valuable data for people in the industry like us, because it can sell money, this process we call "mining", but from a social point of view, this does not play a great role in the people and the national economy, so some people call this behavior "air digging", and "air digging" The reason why it has been condemned by many people in society is that it not only destroys the ecological balance of the environment, but also produces virtual currency that has no practical value, and occupies a large number of public resources, which cannot provide more labor opportunities for society.

Secondly, our country's goal of carbon neutrality, which is very firm, was strong, and we adopted strong policies and measures during the general debate of the seventy-fifth session of the General Assembly to strive to peak carbon dioxide emissions by 2030 and to achieve carbon neutrality by 2060. To this end, many departments in China have recently put forward "restriction orders" for mining behavior, including Xinjiang, Inner Mongolia, Sichuan and other places have successively cleaned up mines, and it is also the relevant departments that have taken targeted actions to deal with this problem.

The author believes that the mine clean-up work has just begun, the future will increase efforts to promote related work, it is conceivable that the "empty digging" project opportunities are getting less and less, unless to find relevant resources abroad, then, in the face of the impact of national policies, where will the mining industry go? Should we stop developing or try to find a new direction? I think most people will choose the latter because it's full of opportunities and money.

So as a miner, as a miner, what should you do? What is the future of the mining industry?

After the ban on mining in China, we, as domestic investors, can only cooperate with state supervision, and do not try our best to find available resources in some remote areas of the country, because building another mine requires huge investment, and now, the country is once again one-size-fits-all, and it is resigned to fate.

So we can only think about where is the future and trend of this industry?

Not long ago, I participated in a digital new infrastructure forum, and I heard some of the views and opinions of Li Chong, a professor at Columbia University and co-founder of N&TLABS, at the forum, and I hope to share them with you here, hoping to help you.

"Li Chong" is a really great professor, he is Nakamoto & TuringLabs (N&T; Labs) and a venture partner at AvisLair. He is also an adjunct professor at Columbia University. Previously, he worked at Qualcomm Research, where he designed 4 GLTE and 5G systems and was a senior member of the IEE. With more than 200 international/U.S. patents (granted or pending) and published academic papers in top journals including Proceedsofthe IEEE, IEEETransactionsonInformationTheory, IEEE Communications, Automatica, etc. He is also a reviewer of the world's most prestigious magazines and conferences and a member of the Technical Program Committee. Communication, machine learning, controlling society. He was a former Scientific and Engineering Research Council grant reviewer in Canada. Author of "Reinforcement Learning for Network Physical Systems" (Taylor & FrancisCRCpress), his research is very wide, including information theory, machine learning, distributed databases and computing systems (e.g., blockchain), network control and communication, PYH/MAC systems are designed for advance communication (5G and later), I ask through multiple channels, query its patents, etc., it is really not bad, He also looked at his papers through many avenues.

In the next step, we will share with you a few suggestions he made at the meeting:

Cloud business will become the future trend.

Due to the traditional Internet computing power, data sensitivity, data transmission timeliness, memory and other huge market demand, centralized cloud storage and CDN services can not meet the current market demand, at the same time, the potential development of the traditional Internet is not limited to the rapid transmission and acquisition of data, and combined with the current individuals and enterprises, whether it is PC or mobile phone, the world is full of idle memory, arithmetic, arithmetic resources, if you can effectively use these idle resources, Coupled with blockchain technology to encrypt data protection, as well as the adoption of cryptocurrencies to encourage users, in this way, idle resources can fully generate market value - cloud computing power services, will become a new business model and a new generation of Internet infrastructure.

Next, let's take a look at the market in this segment, according to the white paper jointly released by IDC and Seagate, they expect the number of global connections to reach 100 billion by 2025, which is 10 times that of 2015. The worldwide data reserve has grown 5.5 times from 32 ZB in 2018 to 175 ZB, coupled with the rapid development of blockchain and AI artificial intelligence in the future, these demand data will grow exponentially, which is why so many storage projects have emerged in recent years. There are many kinds of blockchain storage projects that we are familiar with, such as fil, bzz, Pha, Pekka, etc., and these projects are very popular recently, so we can draw such a conclusion: cloud computing power mining will become the transformation direction and trend of the entire industry in the future, so there are almost 10 kinds of similar products in such an industry now, where are the opportunities? Here's a detailed analysis and introduction:

Filecoin。

The full name of IPFS, interPlanetaryFileSystem, translates to "interplanetary file system", IPFS is a distributed file system used to store and access files, websites, applications, and data. There is such a sentence on the official website: "a point-to-point hypermedia transfer protocol", IPFS supports the creation of fully distributed applications that allow file data stored on IPFS to be quickly accessible to anywhere in the world, allowing us to access data faster, more securely, and more openly, especially to remind that IPFS is a network transmission protocol, which is neither a token nor a project name, and IPFS itself cannot be mined. And the incentive layer Filecoin on the IPFS network can be mined. Abbreviated FIL.

Summary: From October 2020, the IPFS-Filecoin mainnet that has been brewing for 5 years has been launched, and then many platforms have also launched FIL, many early participants have obtained rich investment returns, which in turn has promoted the mining boom of virtual currencies, coupled with the new and old leeks in the coin circle missed the mining dividend period of early BTC, ETH and other projects, so everyone does not want to miss such blockchain projects, more and more people began to join the wealth wave of such virtual currency mining, since then, A new chapter of mining projects has begun, and many wealth myths have been created.

Divide

Chia was founded in August 2017 with the aim of developing an improved blockchain and smart trading platform. Chia used the Satoshi Consensus algorithm for the first time since Bitcoin — "Proof of Space and Time," which is now.

BitTorrent founder BramCohen is the best network protocol engineer today.

The project caught fire shortly after its inception, mainly due to the wealth effect of the FIL project, and many investors who missed the FIl project wanted to quickly find FIL-like projects in the market to realize their wealth dreams. Compared with FIL, Chia has made some innovations in the concept, Chia mining, no mortgage, no need to lock positions, no consumption of gas fees, the most important point is that the threshold for CHia to participate in mining is much lower than FIL, so that the feeling given to investors is that this project is particularly "close to the people", you can use madness to tell, the whole network is crazy. It also led to the global hard disk outage, when even the 16T hard disk was speculated to 7200 yuan a piece, even the largest hard disk can earn 4 times the revenue.

Many investors who followed the trend naturally followed suit, coupled with the recent downturn in the entire market, and many reasons such as the inability of projects to land, which also created a painful lesson.

Introduction to the PEKKA project.

A project developed by Dr. Li Chongli and his team, PEKKA is a shared computing platform where users can rent their own computing resources to those who need them. The PEKKA community allows users to share valuable assets on the PEKKA platform, thereby saving money by renting these nodes, or making money through escrow. Such as datasets, machine learning models, scientific results, and so on. Pekka can also be used to simulate stock markets, big data analytics, medical research, and even cryptocurrency mining, AI machine algorithm learning, and more, these technologies will rebuild cloud mining business, Pekka plans to create a global, open source, decentralized supercomputer that any online user can access.

Why is PEKKA possible?

First, the key to the project is that the entire team is a group of technology bulls, not only the founders are great, as we have already said, invented a lot of patents, at the same time, the core members of his team are consultants, strategic partners, investors, board members and developers of famous blockchain project companies. For example, Swarm, Ripple, Stem, Lee, Grayscale, Ethereumfoundation, Flor, etc.

In fact, the effective use of these idle resources in the world is what many people think, it should be many years ago many scientists wanted to achieve him, but outsourcing the computing task to a third-party computing power provider, therefore, how to effectively verify the calculation results without redoing the task, is how users can effectively verify the calculation results without redoing the task, this has always been a difficult problem. Many computer scientists have been working on this problem for the last decade, but have not been able to find the best solution.

Pekka's research team started from the pain points of computational verification, combined with blockchain technology, after years of research and multi-party verification, in March 2019, proposed the "honest consensus technology PoH" to solve the problem. In order to confirm that ProofofHonesty was inspired by the "police trapping violators" and had tenant-side users act as "policemen", POH strengthened network security by encouraging users to carry out "trapping tasks" in the network, randomly detecting infringements in the platform, and establishing trust between users and between users. The algorithm can accurately lock the incorrect computing behavior, ensure the correct calculation of shared computing power, and establish a high-security and high-trust network ecology. Subsequently, the R&D team applied for a patent for a "distributed computing network based on blockchain technology", and applied for a US patent in December 2019, which was officially released on March 5, 2021.

In addition to the use of honest consensus technology POH, this project also uses Dr. Li's distributed computing patent, friends who are interested in patented technology can add customer service WeChat, request relevant information, about the reward mechanism and punishment mechanism we care about, the following I want to do a brief introduction:

Reward mechanism: On the Pekka platform, ComputeCoin is the excitation layer to ensure the safe operation of Pekka, perhaps there is an incentive token inside the system, users use ComputeCoins to rent computing power, and vendors are rewarded by completing computing tasks.

Formation mechanism: The evil mechanism adopted by the platform is that the user pays ComputerCoins as a deposit before leasing computer resources, and the computercoins need to pay or donate money to achieve, if the platform finds that the user has improper behavior, the hashrate provider's deposit will be confiscated, and the user will be rewarded through the RewardCoin in the reward pool. In this way, the problem of user evil is solved, but Pekka has a lower cost of doing bad things compared to Bitcoin's mechanism of evil.

Idle state: There are many friends may think, if my computer access to the platform, personal and small and medium-sized micro enterprise platform is not much, the demand for computing power will be very small, and then there will be idle how to do, this you do not have to worry, as long as our computer is connected to the Pekka distributed computing power service platform, if there is an order, then carry out computing related tasks; when there is no task, you can access the mining pool, the ETH, FIL, CRU and other platform currencies for mining. In this way, it not only reduces the waste of idle computing power of the computer, but also avoids the phenomenon of "empty digging" of resources consumed by simply mining coins, and can also achieve "multi-mining".

Comparative analysis: IPFS, XCH, BZZ, PHA.

Note: History is not indicative of the future and is for informational purposes only.

From the above comparative analysis table, we may be able to find out the bear market is the most worthy of attention and participation in the project, in terms of participation threshold, IPFS is well known, participation in the pledge requires a lot of FIL to participate, for ordinary investors, it is more difficult to get started, Chia, Bzz, Pha compared with IPFS The threshold is lower, but the best time to participate has been missed, and the risk of participation is also very high, because the most critical factors are applied and consensus, this is because it is difficult to generate specific value, In the long run, the bubble will burst, so combined with the above factors, the most noteworthy project at present is Pekka, and now the opportunity is huge.