When the blockchain floated, the entire social group was enthusiastic.
Originally, it was built by a group of geeks, but it gradually became a human drama about wealth, desire, ambition, rights, and anxiety. In this digital world, it crossed the wealth class and crossed the time path of people to obtain wealth. The physical space has become a global battle. Under the multi-dimensional deconstruction and reconstruction, the "coin circle one day, the first year on the ground", the currency circle and the chain circle are rapidly evolving and mutating in minutes. Everyone wants to win a place in chaos.
The blockchain 1.0 era represented by Bitcoin has passed, and many people still don't know what a blockchain is.
Blockchain 2.0, represented by ICO, is still in full swing... but it has been found that leeks are not enough.
When and where will Blockchain 3.0 break out? How will Blockchain 3.0 break out in China? These issues have received much attention from the industry.
Wang Lei, a partner of Xinghe Internet, believes that in September 2017, after seven ministries jointly announced the ICO illegally, ICO has already died in China. ICO 2.0 is not the next opportunity for the blockchain, nor is it the opportunity for blockchains in China.
So in the huge market that cannot be ignored in China, where is the next opportunity for the blockchain?
Wang Lei believes that ERC-721, ERC-721's opportunity to achieve three directions: ➀ map assets to the application of blockchain world, such as encryption cats, bit cars; ä¸ä»‹ intermediary personal digital asset trading scenarios, individual wallet to wallet The transaction will become possible; the conversion of non-standards and standard certificates.
We don't want to give you a fast-food article, the content is brain-burning, it is a rare cold thinking on the whole network. If you are a related practitioner, please read the investor logic carefully. There are surprises at the end of the article. The following is the full text, Enjoy it.
The currency circle is one day and the ground is one year. Bitcoin has become a blockchain yesterday. Although it is still active in major exchanges, although many people still regard it as a legal currency in the blockchain world, it seems to me that bitcoin has become a digital antique. Like the old version of the renminbi in the real world.
Although the face value is 5 yuan, I will not use it to buy a pancake fruit.
The blockchain 1.0 era represented by Bitcoin has passed, and many people still don't know that it is a blockchain.
ICO's blockchain 2.0 is still in full swing...
The voice has not fallen, ICO players have pushed themselves to the corner, there are too many storytellers, and the leek is not enough.
When and where will Blockchain 3.0 break out? How will Blockchain 3.0 break out in China? This is the article I want to talk to today.
The short answer is the physical and virtual world asset chaining. The rude answer is ERC-721 (and a non-standard token pass similar to the 721 mission, sorry for the NEO being represented).
Ethereum's ERC-20 standard, I listen to my ears every day, ERC-721 is a cockroach? We have to pull from ICO1.0 and ERC-20.
ICO1.0 is dead, ICO2.0 is not likely to grow wild again
On September 4, 2017, after 7 ministries jointly announced the ICO illegally, ICO has already died in China.
In the eyes of regulators, ICO is the process by which a project borrows money from its future users and finances investors. The US SEC also holds the same view. The only function of the ERC-20 is the exchange of coins, and the exchange of the project currency for the Ethereum ETH, that is, fundraising. At the same time, the token design of a large number of projects cannot pass the Howey Test, which will be recognized as a substantial security and will be subject to strict supervision by the securities laws.
(Note:)
ERC is an abbreviation of Ethereum's token standard. Common ERC standards are ERC20, ERC721 and ERC825.
The ERC20 is a standard Token interface that specifies the basic functionality of the Token for third-party use.
Howey Test is an important criterion for judging whether a financial instrument is an "Investment Contract". If it is determined to be an investment contract, it will be defined as a security.
The policy side has dual control of public offerings + securities. However, the ICO promoters on the other side do not seem to have stopped. The money-making posture seems to have the feeling that there is no tomorrow.
The listing fees of the exchange, the legal risks of the project and the risk of breaking the market have caused the primary market to cool down quickly. Even where there are no projects, there are still amaranth? (A cool cool ~~)
Real believers have long recognized these issues, and ICO 2.0 is emerging. V God's DAICO attempt contributors can withdraw the investment model. A group of equity crowdfunding practitioners and lawyers in the United States are also facing the Howey Test question. If you can't circumvent it, why not recognize the ICO's securities investment property and make a compliance ICO according to the JOBS crowdfunding bill?
Believers will continue to toss a reasonable and reasonable ICO 2.0 in 2018. However, even if any of the famous clubs are destined to greatly reduce the current ICO's ability to flow, even if any name is tossed, it will not be applicable in the short term. ICO has no suspense in the 2018, but will the ICO's cessation sink with the blockchain? NO!
What is the inevitable relationship between the ICO and the blockchain? Let's put the clock back and read the history together.
The first ICO project to open up is called MasterCard MasterCoin (renamed Omni). In July 2013, it publicly raised 5,000 bitcoins and realized currency exchange, when it raised $500,000. It was not until July 2014, when Ethereum completed the ICO fundraising, setting a record of 30,000 bitcoins.
History illustrates a problem. ICO was not invented by Ethereum, and ICO is not unique to Ethereum. But why do people have such an illusion? This is due to the launch of a killer application, the ERC-20 standard, from Ethereum.
Ethereum's process of creating an ERC-20 standard token is as simple as 10 minutes, and it even provides a programmable currency exchange smart contract.
Since then, the founders of the project have lived a happy life without shame, they can spend a lot of time on storytelling to write white papers without the need to build infrastructure similar to their predecessors. Therefore, ICO was not invented by Ethereum. ICO is not unique to Ethereum, but ICO was promoted on a large scale because of the emergence of ERC-20. ERC-20 has completed ICO.
With the emergence of a toolbox such as ERC-20, a large number of projects that had nothing to do with the blockchain began to issue points, legal coins, shares, and credits in their original systems as ERC-20 tokens, thus working with Ethereum. The token layer is tied to the blockchain. In 2017, a large number of projects with no relationship with the blockchain technology itself were thus ICO.
ICO is a kind of financial innovation, transparent encryption and circulated standard tokens ERC-20 helps it prosper, ICO itself has nothing to do with blockchain technology, ICO is only a means of fundraising in the evolution of blockchain world One is not the ultimate goal of blockchain evolution.
ICO 2.0 is not the next opportunity for the blockchain, nor is it the opportunity for blockchains in China. So in the huge market that cannot be ignored in China, where is the next opportunity for the blockchain?
ERC-721, mapping assets to blockchain world
The application and underlying protocol based on the ERC-721-like standard that maps physical and virtual world assets to the blockchain world will be next big thing.
What is ERC-721? Encrypted cats, lucky cats, and Leitz dogs that are running to you are all created based on ERC-721. Each one is a unique ERC-721Token. Of course, ERC-721 is not. Cats and dogs in front of you.
(Note:)
ERC721 is a smart contract standard interface for non-replaceable tokens, non-fungile tokens, non-replaceable tokens, NFTs, and implementation methods of standard APIs.
1, ERC-20 VS ERC-721
The biggest difference between the ERC-20 and ERC-721Token standards is whether the Tokens are interchangeable, "fungible" or "non-fungible". Explain the following simple examples.
Just as your one dollar and my one dollar have no value difference, my Token XYZ and your Token XYZ are interchangeable under the ERC-20 standard, "fungible".
The same Audi Q7 became a non-interchangeable two cars at the moment of sale, because their owners would control the Q7 in different ways. As shown above, even if the model, configuration, delivery time and price are the same, the driving style of different owners will make their value immediately different. If each Q7 represents an EKER-721 standard Token, they are unique and inseparable, "non-fungible".
2, the application of ERC-721 is not awkward and the cats and dogs in front of the eyes
a. Map assets to blockchain world
ERC-721 was first recognized by everyone, but also because of the high price of encrypted pets. These cats, dogs and dogs are all born from nothingness. The 0th generation of encrypted cats gradually evolved a new generation of encrypted cats. These encrypted cats A rare gene is generated based on a random number, so that there is a collection attribute.
★ Case 1 etheremon.com – Virtual Monster ERC-721 Tokenization
Users can capture a unique virtual monster (an ERC-721 Token) that is unique to the monster. The monster adds strength through the gym and the game to add value.
Website:
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In the virtual game world, the props, skin, and equipment with collection attributes also found a high degree of fit with the ERC-721. After the tokenization, the game equipment has the uniqueness of visible evidence, on the other hand, it can be traced back to its original owner and state.
However, ERC-721 is far from being able to exert its maximum power in the virtual world. Its larger imagination lies in mapping the assets of the physical world to the blockchain and becoming the interface between the physical world and the blockchain world.
From the house, the car to a plane ticket, from a painting, a pen to a certificate, they can find their own mapped digital assets in the blockchain through ERC-721, one-to-one correspondence.
★ Case 2 mybitauto.com – Physical World Vehicle ERC-721 Tokenization
Bitcoin hopes to help 1.5 billion car owners map their vehicles in the physical world to blockchains to become vehicle digital assets, provide management tools, and trade markets.
Website: http://mybitauto.com/
If every dust has an IP address that allows the Internet to access its information, then each dust should also have a token representing its own value, allowing the blockchain to pass its value.
b. Wallet2Wallet to mediate transactions
When all the assets of the physical and virtual world can be mapped, it is conceivable that our digital wallet will become dazzling, up to our own house, as small as a plane ticket, with virtual pets, and with corresponding entities. car.
Imagine a scenario where everyone's digital assets are stored securely in each person's wallet, uniformly measured by a consensus currency unit, and the transfer of value can be achieved through zone cross-chaining, and individual wallet transactions on the wallet will become possible.
★ Case 3 opensea.io – ERC-721 Pass Market
OpenSea is a decentralized digital collectibles trading platform where users can purchase encrypted cats based on ERC-721 certificates and encrypt encrypted digital assets such as punk.
Website: https://opensea.io/
There is one more thing that deserves our deep thinking. There are two reasons for the emergence of currency:
1) In order to solve the inconvenience caused by the movement of general equivalents (such as gold) in the physical world, paper currency is more portable.
2) A unified measure of value to facilitate transactions.
The virtual world has wiped out the first reason, and the ERC-721's monetization of the assets themselves has weakened the second reason. When a token has only the meaning of the unit of measurement, it does not even need to be circulated. It is like the "cm" thing you can't buy anywhere. The ultimate E2-721 push P2P transaction is barter, all the agents are Was removed.
Wait, if the tokens don't need to be circulated, what about the tokens? What about ICO?
c. Mutual conversion between non-standard pass ERC-721 and standard pass ERC-20
Can non-standard pass ERC-721 and standard pass ERC-20 be transformed? What meaningful applications can these conversions produce?
Please answer a question first. Here is the thirty-ninth president of the United States, James Earl Carter.
Is the signed $1 banknote a non-standard pass ERC-721 or a standard pass ERC-20?
This is a classic example of a transition from a standard to a non-standard pass. An ECC-20 standard pass, after being signed by the president, became a unique non-standard pass for the ERC-721 with its collection attributes.
In the blockchain world, I will be very curious to know who owns the first 50 bitcoins in the creation block, and maybe we can find the traces of Nakamoto.
In the reverse direction, when the ownerids of N non-standard passes point to the same institution, this means that the institution may have N suites, N cars, N game accounts, and whether this institution can be issued based on this digital asset pool. 10,000 standard certificates with equity and usage rights attributes?
In the real world, we call him ABS, Asset Backed Security asset securitization, in the virtual world may be called TBT, Token Backed Token.
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