Contatract (CNT) Weekly Update (May 25, 2020)

This week, the development of the hybrid consensus mechanism and the economic mechanism will continue. Due to the difficulty of the development and the heavy workload, it is currently negotiating with colleges and universities and hopes to introduce computer students to participate in the development. Students will enter through project cooperation or internship. We will refine and encapsulate the development project into an independent module and send it to students for development. In addition, this week began to seek partners who can participate in the public beta test. This week, the main work is as follows:

  1. Reached a cooperation agreement (https://www.contatract.org/post/63) with Xi'an storage mining machine production giant--Lindensys Computer (http://www.lindensys.com/), the other party will provide a large amount of storage and mining The mining equipment helps to conduct a comprehensive public beta of Contatract Chain.
  2. Started to discuss cooperation and development with universities.
  3. Continueed to develop the hybrid consensus mechanism, PoW and PBFT can run simultaneously, and the PoS deposit confirmation transaction module has been developed.
  4. Continued to develop the storage subnet. At present, the development of the storage miner's time and space proof mechanism is mainly started.

This week, Bitcoin has successfully passed the halving award transformation. According to historical experience, Bitcoin will gradually decline and then continue to rebound. But history does not necessarily repeat itself, and reaching a critical point may go out of a completely different direction. Bitcoin is a public chain of fundamentalism, destined to cause a lot of controversy, and the price will be repeatedly sawed, which is not suitable for most application scenarios. The future of blockchain is still the financial and supply chain applications that stablecoin opens.

The Contatract chain is different from the existing public chain. Its sharding mechanism adopts the structure of PoW + PoS + PBFT, which is unprecedented, and its security has a multiplier effect, but it is also more difficult to develop. The storage is applied based on space, similar to the cloud disk under the current centralization. The Conatatact Chain is both a distributed Dropbox and a distributed Email, and it can develop various distributed intelligent applications based on it. It is a fully functional blockchain. With the development of the development, the development has also entered the deep water area, hoping that the community can be patient and provide assistance within its ability.

Link: https://www.contatract.org/post/65

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