Introduction by Qingfang Shan-Founder of Asch
Asch recently announced a strategic alliance with Bottos, a decentralized AI company. By setting up these alliances Asch wants to promote the development of the blockchain industry in a broader sense.
Next to the technical developments, Asch is currently spending a lot of efforts on building a stronger community. Asch has kept low profile for the last year, mainly focussing on the domestic community, where by now we have grown to a enthusiastic and reliable community. The Asch team has now began to gradually strengthen oversea marketing promotion. Besides research and development, our team is also very active in trying to get Asch on more exchanges. Different exchanges are contacting us at the moment although the scales of them are relatively small. Incremental improvements is exactly the strategy we take and there is a high chance of boarding on a big platform in the future. It is important to know that the concerns of our long-term investors are incorporated into our daily schedule.
Question: The key technological feature of Asch is the use of side-chain technology, can you briefly introduce the theory of side-chains?
Qingfeng Shan: The Blockstream team originally proposed the concept of side-chains in 2014. Asch team aims to develop it further. Why do we introduce side-chain technology? It solves the technical challenges faced by current blockchain such as security and scalability. Side-chains can also be used for new functional requirements such as multi-assets, smart contracts and more complex applications. With traditional blockchain technology these would be difficult to achieve.
Asch Side-chain technology can solve these problems very well. The fundamental technology we offer is asset inter-transaction, which means the asset can be transferred from the main chain to side- chains, and also from side-chains back to main chain. It is called “unidirectional anchoring” if the asset can only be transferred in, or “bidirectional anchoring” if the asset can be transferred back. There are many methods to realize the anchoring, details will not be discussed here since they have been introduced in my previous PPT, and we can talk about more technique details another time. Today I want to introduce more about the concept of Asch side-chain Asch is an application platform based on blockchain, which is also a multi-chains deformed system with a main chain and a series of side-chains in the ecosystem. Asch chain is the main chain of this platform, and the upcoming CCTime and Kwisdom are side chains. Side chains cannot transact with each other unless through the main chain. Tokens are the asset that transacted among the side-chains, such as Asch token (XAS), CCTime token (XCT) and Kwisdom token.
We will work to bring in the external tokens such as BTC in the next two or three months. By then, BTC will circulate in Asch system to participate in the use of our various applications which means any token will be free to go in or out of any chain in our multi-chains system, thus the function "multi-use for a token, multi-tokens in a chain " mentioned in my previous speech is fulfilled. Maybe what I said is abstract and hard to understand, I will explain "multi-use for a token " through the example as follows. If we have BTC, ETH and XAS in hand, we can transfer them to any side-chain application in Asch system to participate in the use of them. For example, we can transfer tokens to Kwisdom to participate in the function such as rewards, prediction, etc. It means that the applications available for any token on Asch platform will be expanded every time when there is a new application adopted in the future, this can be called "multi-use for a token.” In a word, side-chain(s) and this architecture are the characteristics of Asch platform. There are three fundamental technologies needed to achieve this purpose. The first one is the cross-chain protocol based on side-chain technology; it guarantees the inter-transaction of assets between two different chains. The second one is the assets routing which is the function of Asch main chain, it bridges the side-chain and also the transaction of assets among them. The third one is an application called SDK(Software Development Kit), just like Ethereum’s smart contract language. SDK is not a language but an application framework through which even general developers can also develop blockchain application quickly, so that the threshold to blockchain application is lowered. As long as we have these three fundamental technologies, an ecosystem based on cross chain and multi-chains can be efficiently developed. Furthermore, it is also the ideal blockchain ecosystem we intend to accomplish.
Question: OK, Mr.Shan. A friend has the same concerns as I have just now, we know that the concept of side-chains and lightning network were proposed by Blockstream, but we don’t know the similarities and differences between them. Can you talk about this topic in depth?
Qingfeng Shan: Lightning network is mainly used to realize high-performance micro-payment, which is related to the performance of payment. Side-chain is a way to implement cross-chain transactions of assets, which is a cross-chain protocol. However, they also have some similarities. For example, side-chain itself is an innovative blockchain, various kinds of performance optimization can be achieved through it, including rapid transaction and confirmation, Asch can confirm in 10s just like rootstock, for example. Lightning network also aims to solve the problem related to payment and that is their similarity. In addition to solving the problem related to payment, Asch's side-chain can achieve 1500TPS and expand the application scenarios for tokens used in it, that is the difference.
Question: Can Asch and bitcoin connected through the side-chain?
Qingfeng Shan: We are currently working on the connection with Bitcoin chain. CCTime, a DAPP to be launched on Asch platform, and predicting future DAPP Kwisdom both do have bitcoin connectivity.
Host: Thank you, Mr. Shan. I think I finally have a clear understanding of Asch now. One more question, please, just a minute. I have also met with a large number of blockchain projects due to the needs of my work, such as NEO, Bubi Chain, IBM’s Hyperledger, etc. I know that PBFT Algorithm is generally used in projects based on Consortium Blockchain. So, how did you successfully apply PBFT, the Consortium-Blockchain-based algorithm, to a Public Blockchain system with DPOS consensus? Would you please give us an in-depth introduction?
Qingfeng Shan: OK, let’s say you have a series of nodes or bookkeepers, in fact, in consortium blockchain, those bookkeepers are in charge of block production. To realize Byzantine Fault Tolerance while you already have a fixed consortium list is the primary task of PBFT. For DPOS there are two missions to complete: delegates election and Byzantine Fault Tolerance realization. In public chain, the list of delegates is always changing in real time, that is the difference with Consortium blockchain. Besides, the delegates voted by tokens cannot be entirely trusted and blocks produced by them might cause some bad influence, that is also why the BFT realization does not work very well. Delegates produce blocks by turns after being selected is an over simplified and crude mechanism. Any fork happened will be managed just by syncing with the longest chain and that is an inadequacy in consistency of DPOS consensus. In fact, that’s also why BTS and List continually forked before. Adoption of PBFT successfully avoid forking and maintain the consistency of our system.
Host: Asch indeed has many innovations, lots of projects I know usually adopt one algorithm only. Asch is the first one that adopts DPOS to solve the first half and PBFT to solve the latter half of the consensus problem, which makes us feel that Asch chain is more stable than other blockchains from the perspective of development. Ok, Mr. Shan, that is all my questions, I will leave you to interact with the rest of us, in order to make sure that you can communicate better with everyone, I will choose some questions from the discussion list, and you can talk about these questions using voice chat.
Question: Compared to Neo and Qtum, what’s the difference and advantage of Asch?
Qingfeng Shan: I would like to talk about the difference between Asch and Neo first. Antshares began in 2014 or 2015, about two years before the foundation of Asch which started in 2016. Antshares was using ideas from other blockchain projects at first and concentrated on the combination of digital assets and blockchain. Then it began to shift the focus of work to Intelligent Economy and smart contracts platform in 2017. Well, the difference between us and them is that the ultimate goal of Asch is to build an application platform from the very beginning, a scalable and secure platform based on side-chains for developers is our objective.
Question: What’s the mechanism of voting and is it manually or automatically? What’s the rule about it?
Qingfeng Shan: It can be either manually or automatically. The token-holders can log on to the wallet and vote manually or pre-setup it to auto-voting, many delegates have auto-voting script in use now. The voting rule is that the number of tokens determines the voting weight. In other words, the voting right you have is up to the amount of tokens in your account. For example, if you have 10,000 XAS, your voting-weight is a little bit more than 0.0001; 100,000 XAS in your account means you have a voting-weight of approximately 0.001.
Question: What’s the next plan of development since not so many projects based on Asch are available now?
Qingfeng Shan: There are three demonstrative applications we have designed from which CCTime has just been launched. CCTime tokens are released for free to attract users and it turns out to be in real demand, many of the users are from Asch community do subscribe for the airdrop. The free tokens are a gift to the XAS holders. As with the development of other applications, such as Kwisdom, the same strategy will be taken and we hope this helps both Asch and the DAPPS to to grow. Due to time limit I can only briefly talk about this, and if you have more questions about details, please go to our community website: bbs.asch.io and you will get everything you want to know about us.
Question: Will the 101 delegates system cause wealth concentration?
Qingfeng Shan: Well, it depends on what to be compared with, there is no absolute fair system. The 101 delegates are dynamically updated, and the whole voting process is open and transparent. Also, an elimination mechanism is in use for the 101 delegates which make sure new blood keeps coming in.