Contatract (CNT) Weekly Update (Mar. 16, 2020)

The most important task for the week is to test and improve the consensus mechanism and storage subnet. Relevant test reports have also gradually formed.

Another major task is to improve the economic mechanism. Although our white paper describes the economic mechanism, it needs to be improved in detail to become a code. For example, the total amount of MD (1M space * One day) in Bancor, how many farmers are maintained by each storage block (Chuck), etc. Sale and purcase mechanism of space use rights, etc.

Here is a simplified explanation of the pricing mechanism.

Cloud disks, as we generally know, are charged based on time and space. At present, blockchain storage charges are based on files, so cloud disk services have not been provided, only file storage services. For example, blockchain projects under IPFS distributed storage protocols such as Filecoin are bidding on each file. Filecoin also proposes permanent storage of files. I think this is a waste of resources. Most files do not need to be stored permanently, and it is not economically realistic.

Cloud disks are needed to establish various distributions on the blockchain. Imagine that the blockchain is a world computer, it has a transfer function (such as Bitcoin), a computing function (such as Ethereum's smart contract), but no storage function. This is why the blockchain has not developed an important DApp for 11 years. Therefore, the future of the blockchain is the emergence of a blockchain that can provide cloud disks for DApps. The Contatract public chain is exactly such a blockchain.

Therefore, the space of the Contatract is not organized or charged according to files, but is charged according to space and time. But the problem is that the space on the blockchain is distributed storage and no one is pricing it. Therefore, we have introduced a mechanism that has been relatively complete in theory and practice, namely the Bancor mechanism. If you deposit MD and CNT in public accounts, you can calculate the exchange price of both according to supply and demand. For details, please refer to the white paper.

The following are the relevant updates of the consensus mechanism, storage subnet and economic mechanism this week:

Consensus mechanism:

  1. Fixed the problem that the block cannot continue to be generated due to deadlock in some special cases in the PBFT consensus;
  2. Fixed the view number error in the PBFT consensus due to incorrect update when connecting new blocks;
  3. Fixed the problem that the block request verification failed occasionally due to incorrect parameter configuration in the request phase in the PBFT consensus;
  4. Fixed the occasional chain fork problem in the PBFT consensus due to incorrect verification and processing of information in the pre-confirmation phase.

Storage subnet:

  1. Optimized the claim space function, when the number of available file copies is less than the maximum number of copies, other storage nodes can continue to claim;
  2. Changed the hash signer of the file transfer process from the authorized agent to the file owner;
  3. Improved the storage node file synchronization verification, from the consistency of the file hash of multiple storage nodes to the file hash, and obtain the RSV inverse calculation through signature to check whether the address of the owner is consistent with the latest modification of the file;
  4. Changed the owner of the space to change the verification of permissions, from reseller to storage node.

Economic mechanism:

  1. Improved the Bancor mechanism and added the space use rights sales mechanism;
  2. Improved the space mining mechanism, and the latest modification height and user signature mechanism have been added to the space verification.