The BlackPearl Public Chain Project (BP), since its official establishment in February 2019, has been supported and loved by many friends around the world from LinkedIn and the Telegram community.
At Thanksgiving 2019, our team sincerely wishes you a happy holiday. At the same time, we also want to announce the achievements of our project in the form of a reply to “Hard Problems in Cryptocurrency: Five Years Later” posted by Vitalik Buterin on November 22, to help everyone to understand our team’s lots of hard research and development results in the field of public chain. We also hope that the BlackPearl team can contribute to the future progress of the public chain industry.
Vitalik, as the inventor of Ethereum, the most widely used second generation public-chain, is awesome for his contribution to the cryptocurrency world, and the cryptocurrency problems he raised five years ago are all very good questions. Below we try to respond with our solutions one by one.
Vitalik’s original post’s link:
Chinese translation to Vitalik’s post:
1 Blockchain Scalability
In the blockchain industry, there are various scalable technologies such as DAG, HashMap, sharding, and multi-chain. Ethereum’s sharding has progressed but is still in the theoretical stage;
BP has run internal test with sharding and has solved the sharding security issue.
Ethereum circumvents the issue of timestamps with “the client does not accept declared blocks with timestamps earlier than the client’s local time”. This approach will have challenges when running with PoS.
BP, by design, uses a state machine to synchronize, so that the formula does not depend on high-precision local time, and it smartly solves the timestamps problem.
3 Arbitrary Proof of Computation
Ethereum’s solution has yet to be landed;
BP has done a lot of work in solving the efficiency and concise proofs. The proofs are relatively long to explain. The core is bilinear maps, homomorphic hiding of multiplications, and elliptic curves.
4 Code obfuscation
Ethereum is slow to progress on this issue;
BP uses dynamic code generation techniques to probabilistically implement safe code obfuscation.
5 Hash-based cryptography
Ethereum uses the SPHINCS “stateless” signature scheme, the backup is STARK, the problem is that the size is too large;
BP uses a hash-based encryption technology similar to the BLS aggregate signature, replacing the length problem with computational complexity. The theory behind the design is Moore’s Law.
6 ASIC-resistant Proof of Work (PoW)
Ethereum has some ways to solve this;
BP did not use PoW as its main consensus, but used PoS as stated by Vitalik: “in the long run, proof of stake is a better choice for blockchain consensus.
7 Useful proof of work (PoW)
Ethereum’s approach may not be feasible;
All of BP’s computing power is used in the smart contract application of the blockchain itself.
8 Proof of Stake (PoS)
Ethereum has theoretical progress;
BP has implemented PoS.
9 Proof of Storage
Ethereum has made some theoretical progress;
BP has a solution by using an asymmetric algorithm for encryption and decryption.
10 Stable-value cryptoassets
Ethereum MakerDAO has made some progress, using an undisclosed oracle;
BP draws on algorithm based on a basket of fiat currencies to better resist collective plunder.
11 Decentralized Public Goods Incentivization
Ethereum has made some progress, proposed individual contributions, and encourage network effects by application charging.
BP learns from the socialized consumption, supply, tax, and Gas models of the real economy, and uses time-based resource value algorithms (deposits, loans, leases, services), and market-based provident fund incentives.
12 Reputation Systems
Ethereum is slow to progress on this issue;
BP uses a smart contract credit score algorithm.
13 Proof of Excellence (workload / contribution)
No progress on Ethereum handshake airdrop;
BP tried to verify the difference between human creativity and AI, and has encountered the Turing test paradox.
14 Decentralized Contribution metrics
Ethereum has changed since its beginning;
BP uses a decentralized contribution formula based on a value-equilibrium algorithm, combined with anti-collusion, and anti-bribery voting techniques.
15 Anti-Sybil Attack System
Ethereum has tried many ways, and some progress has been made.
BP, by using trusted computation, verifiable device ID, NFC, and large memory DAG algorithm’s PoW workload, has created a “Unique Identity System” close to one person, one vote.
16 Decentralized success metrics
Ethereum has made some progress on oracle machine;
BP introduced AI consistency evaluation to achieve Decentralized success metrics.