Weekly Update of Contatract (CNT) (May 17, 2020)

Recently, Contatrac is still focusing on the development of economic mechanisms, developing mortgage mechanisms, reward mechanisms, punishment mechanisms, etc. In fact, the workload is still very large, the complexity is high, and it is prone to errors. The tolerance is very low. At present, the main work is as follows:

  1. Determine of the implementation plan of PoS related content. The consensus of Contatract is PoW + PoS + PBFT, and the current solutions to be determined include: the selection of PBFT candidate nodes needs to establish a mortgage mechanism, the PBFT block generation needs a punishment mechanism, the punishment needs an open and transparent information collection module, and the PBFT reward distribution mechanism (Mint module). These contents, including PoS and PBFT, have been implemented by major PoS chains. Contatrac will mainly draw on these projects for development to reduce the workload and the probability of errors.

  2. Test and redevelop the relevant modules of the reference project. Start to find the relevant modules of the reference project to study, find the interface, and encapsulate, in order to facilitate the subsequent parameter adjustment and integration.

  3. Code integration. Start to integrate the code of the tested module into the Contatract. The embedding of these modules is a process that requires continuous redevelopment and debugging.

  4. Design the public beta program. At present, the newly launched chain has a set of plans for participating in the public beta, including selection criteria and reward mechanisms. Since the testing stage is mainly to find problems, it needs to cooperate with qualified test nodes. At the same time, it is necessary to design a point mechanism and a reward mechanism in order to motivate public beta participants, openly and transparently incentivize and attract more participants.

The above work is complicated and arduous. In addition, the work of the storage subnet needs to be further improved before the accounting subnet can be easily advanced.

A lot of things have happened in recent times. Bitcoin has halved its reward of every block and Bitcoin has returned to around US $ 10,000. Bitcoin is almost a barometer for the blockchain industry. Bitcoin is still a social experiment, as is the blockchain. China regards blockchain as a national strategy, but how to develop it lacks a road map. In short, the world of blockchain is still in the initial stage or even the experimental stage. Its main achievements are being absorbed by DCEP and Libra to make it used on a larger scale, but its players have become countries or large technology companies. As a public chain with anarchy, it is really unpredictable where to go in the future, but as the other side of the government, anarchy seems to always have a logical basis for existence.

Contatrac is a public chain. During the epidemic, it seems that the government is very important. Anarchy is just adding chaos, such as group immunization, which lacks humanistic care and feasibility, but in the long run, history is difficult to judge right or wrong. Human history is more like a natural evolution process, as is blockchain. The future development of the blockchain is also impossible to stay in simple transfers or closed smart contracts. It needs to have a data storage function to form a distributed Internet ecosystem. In this process, space-based storage is necessary as a distributed cloud service. This is also the basic logic of the existence and development of the Contatract.

Link: https://www.contatract.org/post/62