HUAWEI CLOUD digital asset chain, building a new type of digital economic value
1. Three stages of blockchain development
The first stage is dominated by public chains. The blockchain originally originated from Bitcoin and provides real and secure digital currency transaction functions. This The stage is the blockchain 1.0 era, which is the era of virtual currency.
The second stage is mainly based on the alliance chain. Through smart contracts, the trusted transfer of value is realized in multiple application scenarios such as government affairs, finance, manufacturing, and medical care. This stage is the era of blockchain 2.0, that is, enterprise applications. The main period of exerting force, and most of the current applications are also at this stage.
In the third stage, with the implementation of Cloud Universe and web3.0, the blockchain as its main technical support has realized the construction of its related digital economic infrastructure. The cross-evolution of emerging technologies such as blockchain and cloud computing, big data and artificial intelligence will reconstruct the development ecology of the digital economy and promote the deep integration of the Internet of Value and the real economy. This stage is the blockchain 3.0 era, the value Internet stage.
2. Typical application scenarios of trusted digital assets based
on blockchain Trusted digital assets based on blockchain will provide a new type of economic foundation for the next generation of the Internet. Huawei's digital asset chain uses NFT digital assets. NFT is neither a homogeneous token nor a No Fungible Token. It uses ERC721/ERC1155 as the basic standard and is the only and inseparable token. Typical applications include CryptoKitties, NBA Star cards, etc.
At present, homogeneous tokens and semi-homogeneous tokens are popular on the public chain, but Huawei Cloud Digital Asset Chain currently provides non-homogeneous token digital asset protection capabilities. Based on the HUAWEI CLOUD digital asset chain, applications in related fields such as artworks, collections, games, and asset certificates can be realized.
In the field of artworks, artists use tokens to represent the ownership of their digital artworks, which can greatly improve the liquidity of artworks, avoid creators from paying high fees, reduce the complexity of copyright transactions, and easily sell digital artworks, forming a sustainable sustainable economic model.
In the field of collection, ball cards are the same as stamps. Collectors of digital collectibles will collect digital products they think are valuable to express their support for a certain company, brand or game. Digital collections are different from physical objects, and there is no need for transportation time, maintenance costs and other expenses. Transfers take seconds and never depreciate.
In the field of games, NFT is the basis of blockchain games, which can be used to tokenize, track and transfer unique game items without hosting. Give players complete control over their game items. Players truly own game assets and are not controlled by publishers. The assets earned in the game can be transplanted outside the game at the same time to realize the realization of game investment.
In the field of asset certification, NFT can represent a series of off-chain assets such as real estate, government documents, certificates and degrees, so as to achieve information transparency and automatically execute transactions on the chain. Use blockchain technology to prove the ownership of assets, and support open and efficient authentication verification, improve the efficiency of asset transfer in the real world and ensure the authenticity of assets.
3. Problems commonly faced by digital asset chains
At present, digital asset chains generally face four problems:
1. Performance problems
At present, there are common problems of low transaction performance and difficult scale expansion. In the process of supporting the construction of digital economic infrastructure, it is difficult to realize the ability to provide support for a wide range of application scenarios in the infrastructure of web3 and metaverse.
2. Privacy and security issues
During the storage process of the existing digital asset chain on the chain, digital assets are prone to leakage, loss, tampering, etc., so the security and privacy protection capabilities also need to be improved urgently.
3. Ease of use
Many digital asset chains are incompatible with existing business systems, and the cost of transformation is very high. How to improve the interaction between digital asset chains and existing businesses has also become one of the main problems.
4. The problem of ecological connectivity
After the existing digital asset chain is built, the user's business is only stored in the current digital asset chain, and cannot communicate with other chains, making it difficult to circulate more digital assets.
4. Overview of HUAWEI CLOUD Digital Asset Chain
Service Based on the purpose of empowering digital marketing, simplifying copyright protection, building a game economy, and promoting digital collections, HUAWEI CLOUD Digital Asset Chain Service provides digital assets based on digital copyright protection services and digital payment services. Chain-related service capabilities provide two types of digital asset chains, the exclusive version and the shared version, on its upper layer. The special version of the digital asset chain supports cross-cloud interconnection solutions for public clouds, hybrid clouds, and edge clouds. The shared version of the digital asset chain is an open digital asset chain that can open up the ecology of the digital asset chain. Based on the HUAWEI CLOUD digital asset chain service, it provides effective support for the digital content creation platform, digital asset management and trading market.
1) Business process of the digital asset chain
2) HUAWEI CLOUD digital asset chain supports an open digital asset chain ecology, which is more transparent and neutral
5. Advantages of HUAWEI CLOUD Digital Asset Chain
1. Supports high-concurrency digital asset creation, issuance, and circulation
1) HUAWEI CLOUD Digital Asset Chain is based on cloud native, supports rapid deployment through container service related capabilities, and uses decentralized management contracts. Create distributed alliance building capabilities, provide interfaces such as issuance, transfer, transaction, and authorization, provide capabilities for the entire digital asset scene, and support highly concurrent digital asset creation, issuance, and circulation. 2. 2) Based on Huawei's blockchain engine,
it
provides
3. 3) HUAWEI CLOUD digital asset
chain is the first in China to support decentralized management of smart contracts, which is convenient for building a fair and open alliance system
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4) In distributed cloud scenarios, blockchain nodes Optimal network path selection to ensure reliable connectivity
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5) Digital content management services reach the financial security level to ensure reliable security of content circulation
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6) Secure containers ensure stable and reliable operation of blockchain and contract services
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8. High performance: The trusted Raft TEE consensus supports high-throughput transactions.
The traditional BFT consensus algorithm has a large amount of message interaction, and the message complexity is O(N2). The HUAWEI CLOUD blockchain uses the TEE trusted execution environment to optimize the consensus. The Raft consensus greatly reduces message interaction, and the message complexity is O(N), which is more suitable for large-scale networks. At the same time, it has achieved Byzantine fault tolerance and supports fault tolerance in the case of 3f+1 points.
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10. Hierarchical network management supports ultra-large-scale node networks
In order to support the processing capabilities of large-scale nodes and provide a credible economic foundation for web3.0 and the Metaverse, Huawei Cloud blockchain has transformed the network synchronization capability. Before the transformation, the traditional blockchain network used the Gossip protocol for data synchronization. Since Gossip itself has many redundant messages, the network performance decreases rapidly as the number of nodes increases. After the transformation, the HUAWEI CLOUD blockchain adopts hierarchical management, and data synchronization spreads from the core to the edge, reducing the amount of redundant messages and reducing performance impact, so that the performance will not drop sharply with the number of nodes.
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12. Provide smart contract security detection
In order to ensure the security of the digital asset chain, HUAWEI CLOUD digital asset chain service provides smart contract detection capabilities, and builds highly credible smart contracts through technologies such as static analysis and formal verification.
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14. Support cross-chain interoperability of assets between homogeneous or heterogeneous digital asset chains
In order to achieve the interaction between digital asset chains and improve the connectivity of digital asset chains, HUAWEI CLOUD digital asset chains provide the following capabilities to ensure circulation.
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1) Support cross-chain transactions between two logical chains (channels) or more logical chains (channels) 16.
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) Arbitration mechanism for transaction results to ensure the atomicity of cross-chain transactions Chain transaction privacy 18. 4) Guarantee the authenticity of information transmission in cross-chain transactions 19. 5) Combining trusted hardware and using a trusted execution environment to create cross-chain relays, the status data is credible and the degree of privacy protection is higher. The cross-chain interface is easy to adapt, does not modify the logic of the original chain, and is more friendly to heterogeneous systems. 20. 6) Universal cross-chain contract interface, no modification to the logic of the original blockchain platform, only need to adapt to the smart contract to achieve cross-chain 21.
22. Support adding watermarks to digital assets, which is convenient for users to verify "genuine" assets.
To facilitate users to verify assets, HUAWEI CLOUD Digital Asset Chain provides watermark capabilities, including clear watermarks and dark watermarks, and supports multiple image formats and file formats.
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27. Integrate Huawei + National Copyright Protection Center DCI Confirmation and Evidence Service
Huawei Cloud Digital Asset Chain and the National Copyright Protection Center have jointly formulated a copyright protection standard to provide full life for copyright certificates, authorized transactions, infringement detection, and judicial issuance Cycle support realizes full automation, no user perception, and copyright certification is completed upon completion of work creation. At the same time, it also provides a corresponding interface, which is open to the outside world through HMS Kit, and users can openly use the copyright protection capability.
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