I put together a rough translation for who is interested:
Q1:
What are the optimizations of Neo N3 compared to the new version of Neo blockchain just released?What are the reasons for making these optimizations?
Da: let me answer the second question first.Neo's vision is to be the Open Network Foundation of the intelligent economy,and Neo N3's purpose is to provide minimal trust and permission to access any physical and digital assets.The new version has made several efforts in order to break the boundary between the digital and physical worlds：
New economy and governance: the new governance framework will enable important "resiliently manageable" functions, which make it possible for a social-based jurisdiction system to interact with the blockchain.According to Neo N3's new on-chain governance and economic model, the governance body Neo Council will exist in a dynamic form,and council members will be updated regularly based on votes.The new GAS distribution mechanism will also motivate members of the entire Neo community to participate in voting governance.Since any individual and institution can run for the Neo Council, the Neo blockchain will be able to achieve dynamic regulation based on the compliance background of each council member.
New features*: this time, three new components, including the decentralized storage system NeoFS; trusted link between on-chain smart contracts and off-chain data-built-in Oracle Oracle; and neoid, a Decentralized Identity solution that bridges the gap between on-chain assets and physical identity.From a functional point of view, directly solve the link needs of the on-chain and off-chain world.\*
New architecture*: Neo has been committed to overcoming the shackles of“scalability+high performance+security " can not be both at the same time, and strive to start from the technology itself and simplify the development experience, for enterprises, projects and developers to provide a complete set of tools and mechanisms necessary for the future of large-scale blockchain commercial landing in the intelligent economy.N3 redesigned NeoVM, upgraded the original consensus mechanism to dBFT 2.0, simplified the Smart Contract Architecture, and enhanced systems such as ledgers, communications, and storage.Achieve 10-100 times the performance improvement,and at the same time bring a more secure, more stable network experience.\*
New ecology*: to realize Neo's vision of an intelligent economy, it is not enough to improve its own platform.Neo N3 will help projects and assets easily enter the Neo ecosystem through the interoperability protocol alliance Poly Network, which has been joined by nine blockchains (still growing), making Neo a key platform hub.Integration with Poly Network will not only improve the scalability of the Neo blockchain, but will also optimize the flow and use of assets on its chain.\*
So it is new in: governance,economic model,function,architecture,ecology
Q2:
What is the design thrust of Neo N3 and what kind of blockchain platform do you want to create?
Da: being able to link with the real economy has always been Neo's pursuit
*** Erik: * * \* in order to achieve these two purposes, N3 has made some designs,such as high performance,high reliability,built-in Oracle (Oracle), massive data storage(NeoFS), etc
Q3：
Why should Neo N3 start a new chain?
*** Erik: * * * because the architecture is completely different
Da: N3 is a revolutionary upgrade, the architecture is completely different, so it is more reasonable to choose the mode of starting a new chain
Q4:
Not sure what's the question... (Likely 'what's new on N3')
Erik: first, UTXO is removed,and all assets are defined with the latest NEP,such as NEP-11, NEP-17
Second, all logic on the chain is defined in smart contracts,including native contracts and user-defined contracts
Third, dBFT2.0, ensures the certainty and stability of consensus
Fourth, NeoVM has also been completely updated,a new instruction set architecture,plus a lot of advanced features
Q6:
Thanks to Zheng Wen's answer ~ [social society]just da shu also mentioned a new governance and economic model, can you share in-depth your ideas on new governance and through”flexible management“to solve the differences in real-world jurisdictions?
The most important and complex new change in Da: Neo N3 is its new dynamic on-chain governance mechanism.
Neo's governance board members can be any registry, informal organization, anonymous organization or individual, voted by NEO holders and dynamically change, the voting results of the top 21 candidates will form the board, of which the top 7 are consensus nodes, responsible for the block.The results of the ballot are updated every 21 blocks.
NEO holders can get more incentives by participating in governance.The term of office of the council is theoretically 21 blocks,and voters can flexibly adjust their voting strategies.
The status of Neo board members will be diverse, and some of these entities, or as compliance agencies within a particular sovereign region or legal jurisdiction, will be subject to compliance restrictions in the region in which transactions are processed.Board members face different policy environments, regulatory frameworks, and compliance standards, and anonymous nodes are not affected by this.
When processing transactions, different nodes will react differently to different types of transactions, which will affect the type of business processed on the Neo network to varying degrees.For example, for a particular type of transaction, more than 1/3 of the consensus nodes are affected by local justice can not pass such transactions, then the impact of justice on such a particular transaction that is reflected in the Neo Network.
In the framework of dynamic elections, NEO holders will then make a decision whether to continue to vote for the affected nodes in the next term.Node candidates can also make adjustments according to the voter's strategy.Gradually, Neo's business attributes and council morphology are formed in a repetitive game of voters and node candidates.
The Neo community will determine the direction of Neo by actively participating in governance and expressing its position,which is also the embodiment of Neo's unique community value, experimenting in a resilient and controllable network.
To sum up, the community can decide to make Neo more compliant or to make Neo more open
This is a huge advantage of dBFT consensus mechanism+Neo's on-chain governance
But also from the goal of connecting to the real economy.
Q7:
Uncle spoke in detail~I believe we also have a certain understanding of Neo N3 new governance and economic model,then the next question, can please give us a brief introduction to the long-term ecological development plan after the launch of Neo N3?
Da: Neo N3 is a community-driven platform, its launch will enable the project side and the developer community to build their ideal projects, together to contribute to the future of the smart economy.
Community developer involvement is critical on the road to achieving Neo's vision.In order to engage the community more widely and bring more technological innovation, the Neo Foundation has set up a number of grants and incentives for Neo-related development and research.In order to reach more new developers and further improve the N3 ecosystem, we also plan to hold a hackathon event for all developers interested in N3 on the N3 test network.
On the other hand, the Neo team will continue to support the full development of the project and partners through the EcoBoost program.
In addition to EcoBoost, Neo will continue to support the growth of the project through Ecofund, an investment fund established by the Neo Foundation.The fund will continue to support Neo N3's infrastructure, dApps and blockchain ecosystem projects.
After N3 goes live, the Neo community and ecosystem project will enter the migration phase.In order to achieve a smooth transition from Neo Legacy to Neo N3, Neo will also launch an Early Adopter Plan during the N3 migration phase to motivate developers and project parties to quickly launch on N3.
Q8:
Thank you for the detailed answer ~ it seems that the next will be a busy and fulfilling period of time[Hey ha] in fact, when it comes to the large-scale landing of blockchain technology,we will naturally think of cooperation with some international organizations and large companies, after the launch of Neo N3, what is the layout in terms of industry cooperation?Can you introduce uncle tat?
Da: as a forerunner in the blockchain field, Neo's leadership position in major key institutions further proves its unique leading position.By joining.Neo is promoting the mainstream application and standardization of blockchain technology.
Neo founded the InterWork Alliance (IWA) as one of the five initiators, working with industry leaders including Microsoft, Accenture, IBM, SDX, Nasdaq and UBS to develop and promote widely applicable blockchain standards.
We also cooperate with the blockchain-based Service Network (“BSN”) to become its first public chain partners, aiming to reduce the threshold of blockchain development, accelerate the large-scale landing of Block Technology, and jointly promote an interconnected, truly frictionless world.
In addition, Neo interoperates with many blockchains through Poly Network.As an advanced heterogeneous cross-chain interoperability protocol, Poly Network has integrated many blockchains such as Bitcoin, Ethereum, Neo, ontology, Elrond, Ziliqa, Binance smart chain, Switcheo and Huobi ecological chain.
As of the first quarter of 2021, Poly Network's cumulative cross-chain assets have exceeded $ 3.3 billion.In the future, Neo will continue to use Poly Network to optimize the efficiency and liquidity of N3, and as the infrastructure for Neo Legacy to Neo N3 migration, Poly Network will also make Neo the first platform to achieve a major upgrade through cross-chain technology.
Through the above industry cooperation and the continuous burst of innovation, Neo N3 will become a milestone for Neo and the entire blockchain community.With Neo's rich accumulation and development vision, Neo N3 will further optimize the amount of spit, reduce the development threshold, achieve decentralized governance, and bring a higher level of security.Through these efforts, Neo will work with many industry partners to help the era of large-scale blockchain landing and realize the future of intelligent economy.
Q9:
Blockchain technology has evolved and evolved at an alarming rate over the past few years.Public chain, as the most important foundation track in the entire industry,the competition between platforms is also extremely fierce and three-dimensional, from the early performance of the dispute, gradually evolved into a comprehensive competition that includes developer experience, infrastructure and ecosystem.How did the two see these rivalries?What role does Neo intend to play in it?
Da: building a world-leading protocol system and corresponding developer infrastructure is an extremely difficult task, especially without sufficient community support.
Therefore, most smart contract platforms naturally choose a technology system similar to Ethereum, more or less drawing on or directly forking Ethereum's codebase, EVM, and toolset.In order to quickly cold start the entire ecosystem and application scenarios, bypassing the long technical and code Reserve stage in the early stage.
These platforms will soon find that choosing a shortcut also has a price.The system of inheriting ethereum also means inheriting many of the shortcomings of Ethereum and putting them in direct competition with Ethereum.
Although the current PoW-based Ethereum has many shortcomings, but also for these competitors to provide its short-term comparative advantage stage, however, with the landing of Ethereum 2.0 and the maturity of expansion technology, the window of opportunity for these competitors is rapidly closing.
Not because of convenience, compromise to accept the shortcomings of other platforms, and is committed to providing the industry's best solutions and user experience in every possible aspect: as a pioneer to lead the popularity of new consensus mechanisms; adhere to the original code base; and build multi-programming language compatible development infrastructure.Neo chose to go his own way.
This is my positioning for Neo's role.
Erik*: to be honest, I haven't seen any strong competition yet.Not to say how well NEO is doing,but the current blockchain is basically building an overhead world,rarely related to the real world, at least outside the transaction hype this relationship has not happened.This shows that the development of blockchain is even in its early stages so far,so I say there is no competition.*
The goal of N3 is to serve large-scale commercial applications,serving the real economy.This is very different from the model of other blockchains.NEO is ultimately going to become the next generation of the internet, there are too many things to do, we step by step, I firmly believe that we are in the right direction.
The next few questions are from the live audience.
Q1:
Everyone is very concerned about the transition between Neo N3, a new chain, and Neo Legacy.Do I need to migrate, how do I migrate,do I need to change tokens?
Da: Token needs to be migrated
Erik: to migrate, to change the token.How to migrate,there are several programs, is not sure.One possible scenario is through cross-chain.Of course, it's still subject to the final announcement.
Q2:
Well, the next question,but also the group of tv friends want to know:NEOFS is similar to FIL miner economy?Is the threshold for participation high?
Da: not the same. Filecoin requires a dedicated miner to mine, and NeoFS storage nodes can be implemented with an ordinary server
Erik: pretty much.The difference is that NeoFS uses GAS as a token, is a component of NEO smart contracts, and can also be used alone.But whether it is used in the NEO contract or alone, GAS is used as a token.The income received by miners is also GAS.In N3, GAS application scenarios will be greatly expanded, NeoFS is one of them.
Da: Filecoin mining also needs to pledge a large number of FIL,the value of the Fil that needs to be pledged is several times higher than the miner.No pledge is required to participate in NeoFS.
Taken together, in the Filecoin economic model, less than 10% of the cost is used for storage itself and 90%is used for meaningless mining; NeoFS does not have such a design before the cart is put before the horse
Q3:
Question 1: How does toracle accomplish the consensus from the physical internet world to the blockchain world?Because the physical internet world itself has a lot of fake content?
The role of Oracle in Da: Neo N3 is to get the URL content of the internet
Neo is the Digital Asset Protocol for the next generation of the internet (or Web 3.0), and Oracel is the channel connecting Web 3.0 and today's internet
With built-in Oracle capabilities, Neo N3 can seamlessly connect to current internet applications and websites
Erik: N3's built-in Predictor allows smart contracts to access internet resources at runtime, access URLs through Oracle nodes, BFT consensus on the results, and then transfer the results back to the contract's callback function.So it only implements a simple Url crawling function,is not responsible for identifying false content.Complex Predictor can be based on the N3 built-in predictor to achieve.
Da: through N3's built-in Oracle, you can read the internet's asset prices,weather forecasts,microblogging content,and even picture content, and so on
Q4:
Thank you for answering ~ the third question from the group tv buddy:FS is storage,blockchain is the system, now there are a lot of computing power projects, then NEO will become a decentralized cloud computer?
Da*: the objects in the design of NeoFS are for smart contracts on Neo and other App services that can call NeoFS across chains*
Q5:
da shu and Zheng Wen how to see the market on the domestic project public opinion "domestic cool"."Domestic annihilation
".And so on for the entire blockchain field at home and abroad differences
Erik: is NEO a domestic project?
The one that asked the Q: I personally don't think so, neo is a community-based open source project
Erik: so, there's nothing to say.
Da: Neo has always paid great attention to community, internationalization and decentralization
After N3 is launched, it will accelerate the process of community, internationalization and decentralization
Q6:
Issue 5. DEFI than traditional financial derivatives in efficiency, security and operational amounts are several orders of magnitude higher, NEO team how to see the DEFI trend,N3 on DEFI action?
Da: Neo is a protocol that focuses on digital assets,so DeFi must be the key direction of Neo
You will see a thriving DeFi ecosystem in N3
Q7:
Question: the community has a lot of small partners always say that neo can surpass ethereum, how to see [Wang Chai]
Da: Neo's goal is to become the most important Open Network for the smart economy,and as long as this is done, it will naturally surpass other blockchains
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