Boca’s opponent is ETH. 70 blades over ETH?
When it comes to which track is the most popular these days, it’s DOT Poka, the money transfer function (which means that other core functions will be available soon, and poka will be fully launched soon), and it’s divided into a billion tracks.
However, the action is second, mainly landing expectations to cash, the market is good, DEFI recently lowered the temperature, Boka department took over the flag. The cross-chain plate has been on fire recently under Boca and Astro Boy has doubled in a short period of time.
Boca took a few hits when it started transferring money, dropping to around $2.70 on a post-split basis, but bounced back quickly to its current $4.80 in a week. Successive spikes made it impossible for anyone to ignore Boca.
Boca now has a total of 1 billion. At a price of $4.8 billion, the total market value of Boca comes to $4.8 billion. It has reached the seventh place in the market value ranking, dropping into the top 10, which is really impressive. Although some DOT have not escaped the unlock period, the impact is not big, will be unlocked soon, the top 10 is also relatively stable.
The hot market has created a rosy picture, and many Doters are already imagining a rosy future for DOT prices. Some think that by the end of February next year, DOT will surpass ETH in market value.
We all know that Boca is one of the cross-chain duos, and after the COSMOS operation went into a tailor-made phase, boca was the most likely cross-chain unicorn.
But actually we are wrong about poca, in fact, cross-chain is only a function of Poca.
Boca’s rival has always been ETH. What Boca wants to do is also a smart contract platform, but it has cross-chain functionality, and it’s the highest level of cross-chain.
What Boca really wants to do is to create a blockchain within a blockchain. Instead of a single blockchain, it links hundreds of blocks together through a mechanism of relays and parallel chains.
With Poka, these hundreds and thousands of blockchains can communicate with each other and share security.
But the most important feature is cross-chain. Why is cross-chain so important? Because today’s public chains are isolated islands of information with different technical architectures.
It is said that blockchain should build WEB3.0 and build Dapp ecosystem, but the phenomenon of information island between public chains is very embarrassing for Dapp developers. Even if the same Dapp is developed in different public chains, the same Dapp cannot smoothly transfer transactions and interoperate smart contracts.
The current situation of poor interoperability between blockchain is greatly limiting the implementation of blockchain applications, and the experience is extremely poor. Such Dapp often falls into a disadvantage in the competition with the Internet, which can bring great convenience to our real life, but the current blockchain Dapp cannot.
That’s where cross-chain technology comes in. Cross-chain is born to realize asset transfer, information exchange and application collaboration between different blockchain platforms. It is similar to a bridge between different public chains, realizing data transmission between different blockchain networks and greatly reducing transmission costs.
In order to solve the scalability and extensibility of blockchain, Boca defines a set of parallel chains and relay chains to solve the scalability and scalability problems respectively. Parallel chains are responsible for data computation and transactions, and multiple parallel chains can complete horizontal expansion. As a center of Boca, the relay chain verifies the block given by each parallel chain and gives the final deterministic proof. Relay chains address blockchain scalability by assigning validation groups to parallel chains, helping validate blocks, and participating in decisions about whether to allow new parallel chains to join, among other things.
02
Boca’s strengths and Ethereum’s weaknesses
This is the architecture of Boca. The core is the relay chain connecting the parallel chain. With this architecture, these parallel chains can be combined into a whole. With cross-chain functions, shared security and modular combination, parallel chain connection is also convenient.
Let’s look at the architecture of Ethereum 2.0. The ETH 2.0 backbone is called the beacon chain. The main load on the beacon chain is proof or validation. They are votes on the availability of shard data and the validity of beacon chains. Ethereum 2.0 requires only a beacon chain to initiate phase 0. In Phase 1, Ethereum will have 64 simple shard chains to test the final determinism of the beacon chain. Each shard submits a cross-link to the beacon chain, which contains information that identifies the shard data. Later, in phase 2, sharding implements the eWasm interface, takes care of the virtual machine, puts the smart contract function online, and finally makes the system available.
As we can see, like Ethereum 2.0, Boca has a main chain called a relay chain. The parallel links connected to the relay chain can also be thought of as fragments. Sharding slots can be shared between the chains, much as small airlines share a gate at an airport. In order to interact with other chains (such as Bitcoin and Ethereum), Boca will also have a bridge that provides two-way compatibility.
Ethereum 2.0 and Boca both use a hybrid consensus model. Boca pairs of parallel chains use the cross-chain messaging XCMP protocol to send arbitrary messages to each other. Parallel chains open connections to each other and can send messages over the channels they have established. ETH2.0 also has information passing between shards, but how it will be implemented technically has not been finalized.
It can be seen that if boca main network is online, the direct target is ETH 2.0. ETH 2.0 is still in development. Boca is technically beating ETH.
And just so we know, Boca is coming online soon, and all of that is about to happen. For Ethereum, ethereum 2.0 is a risky upgrade. Can achieve is one thing, achieve also may have a lot of problems. It’s hard enough to build a new blockchain, let alone upgrade one that already has thousands of users and smart contracts.
Ethereum 2.0 focuses more on decentralization and scalability than ecosystem sustainability. Ethereum 2.0 has not yet focused on optimizing the ecosystem for third-party developers and projects, and the ecosystem could be significantly affected once 2.0 hits the ground. Ethereum 2.0’s design is also hampered by ETH 1.x, and switching to Ethereum 2.0 May require a contract rewrite for existing ETH 1.x smart contracts.
More important, of course, is the timing of ethereum 2.0’s arrival. So far, the Ethereum 2.0 team has not released a specification for messaging between shards. Without a development plan, it is far from clear when ETH 2.0 will be released. The beacon chain has been delayed until the end of this year at the earliest when the plan has been finalized for Phase 0. We will be thankful for phase 1 next year. Then there is the fusion of the old and new chains in Stage 1.5, and finally stage 2, which may not come out for another two or three years.
All we can do is wait, and in the meantime it’s a good opportunity for Boca to build its ecology and recover ETH’s first mover advantage.
03
Will technological leadership prevail?
I know that the whole blockchain world is now empty, not to mention how much real value is generated. It’s all about us making fools of ourselves.
Because if you look closely at the blockchain and cryptocurrency industry, our infrastructure today is the public chain. The most commonly used public chain is ETH, and those who have used it all know how imperfect ETH is. In fact, the biggest beneficiary is the Ethereum miners. Fee income has skyrocketed, and now 20% of ethereum miners’ mining income is fees. Ethereum has done what Bitcoin did not.
Thor is thinking, the original blockchain is not purporting to get rid of middlemen, can not exempt middlemen to earn price difference? Isn’t the low commission a reflection of the commercial value of blockchain? Why is it the other way around now? I’ll leave it to the middleman.
The bottom line is that blockchain infrastructure is completely inadequate. Public chain a brother ETH performance is too poor, turtle speed operation, handling fee will be extremely high. This is the biggest reason why a bunch of killers emerged in ’17. ETH 2.0 is also intended to solve this problem, but it is not known how many years it will take to fully arrive.
As mentioned earlier, if poca is technically superior to ETH, even poca is comparable to ETH 2.0. In other words, Boca is not only technologically superior to the current ETH, but I can say it’s as good as something new that you don’t know what life (at least two years) will take. How else to say That Lin (founder of Boka, ethereum technical director) is a geek.
But is blockchain really technology over everything?
I’m afraid not. Otherwise EOS would have beaten Ethereum long ago.
Ethereum is long gone. As the biggest application of Ethereum at that time, Ethereum will not disappear after The disappearance of Icio, and ethereum can still survive strong, and the birth of DEFI, which may inspire the next bull market, the future is very imaginative.
I have to say ethereum is really strong in this area. Blockchain is by no means a technology-first success story. Otherwise, bitcoin would have been overtaken, wouldn’t it?
, even in the etheric fang chain computing resources is so tight, but there are many projects will try other assets across the chain to the etheric, so a new asset also can enter the DeFi ecology, as collateral or entering into more complex derivatives market, although it will take up the etheric lane network resources, improve the transaction fee. The recent proliferation of bitcoin anchor coins is a prime example. Although ETH does not have cross-chain technology, there are projects to ensure security through a series of custody and collateral mechanisms to move bitcoin liquidity to Ethereum, so that Ethereum DeFi can use BTC alternatives, and Bitcoin can be invoked by smart contracts, thus becoming part of open finance.
ETH technology is not the best, but users like to use ETH. It is the choice of users and the project side after weighing. Do not underestimate the first mover advantage and network effects of ETH, which exchange does not have ethereum trading pair, which multi-chain wallet does not have Ethereum chain, which public chain does not copy the model and code of Ethereum project. Why many DEFI projects on Ethereum are like that, pioneering, and other public chains are copied.
ETH, which is owned by money and people, has been attracting all kinds of resources, and there are also all kinds of resources willing to contribute to the problem of ETH, which also makes the performance of The poor Ethereum more and more powerful.
Hence the example of DEFI flourishing in Ethereum. DEFI, when combined on Ethereum, could create even more unimaginable applications. This is why ethereum DEFI apps have been born at such a fast rate that they can grow on their own.
04
Is Boca the next EOS?
A lot of people are saying that a bunch of boca fanatics are advocating that Boca will surpass ETH in the future. The graph above is not someone’s prediction. By February of next year, Boca will surpass Ethereum in market capitalization with a price of over $70. Now there is a 10-fold gap between Boca’s total market value and Ethereum’s, and Boca is up another 20-fold, directly taking over ETH.
Many old leek understand the above truth, blockchain can not be all about who has the advantage of technology. They feel that DOTer’s talk of transcending ETH, the idea that Boca can break through the sky and bring them wealth and freedom are all illusions. The most painful lesson is that the previous EOS has advantages in the same technology, but also challenges ETH and subvert ETH in terms of performance. But finally in return is the public spit. They feel that EOS holders are the fate of DOTer.
But is it?
Thor also voted in EOS and was stupid when he thought EOS was better than ETH. ETH is garbage, so expensive, so slow, and so hard to use.
But after all these years, Thor felt that EOS’s mistakes were inevitable. It’s not so much that we were wrong to assume that any project could easily challenge ETH’s supremacy as that we were wrong about BM.
I still think that if B1 and BM do their work conscientiously and do not slack off, EOS can challenge ETH. Now it ranks the top five in market value and its price is above 60. Most people will not be so trapped, it is not a difficult thing. In the bull market, with new opportunities, EOS will definitely have another chance. In fact, there is still a chance for EOS at present, and the market opportunity from the high cost of ETH can keep EOS alive, but this chance is very small, and once the deployment of ETH Layer 2 is complete, this chance will be gone, and then EOS will be desperate.
In short, the EOS project side does not act as the pot I think is bigger. Pomelo fans overestimate BM’s determination to mend its ways.
Please pay attention to the wechat public number “Da Pa Saibi”
Gavin Wood aka Lin is much better than BM. Look at what Lin said above, someone else graduated from ETH, BM from BTS and STEEM before that are called dropout, colloqualism is called dropout.
What’s more, the level of the project made by the two people is also different. Lin created the “world computer” ETH, and how many people still pay attention to BTS and STEEM?
For this alone, Boca is much better than EOS.
Then there is the ecological disadvantage of Boca compared with ETH. Boca technology is ahead, but ecology is not as good as ETH. You need to complete the make-up lessons before ETH 2.0 comes out. For now, Boca is doing pretty well. Compared to EOS project parties, Boca will spend and will spend. Lin’s appeal is also big, many people are optimistic about boka ecology, willing to join boka ecology. This is clear when you look at the chart below for ecological funding.
B1 has made so much money on EOS but not a penny. Mainnet has only funded 34 projects and spent $1.7 million since launching 2 years ago. Even before boca launched its main network, the ecological layout never dropped, and it has funded 129 projects.
The 129 projects funded by the Web3 Foundation are distributed across all levels of the Polkadot technology stack, from the underlying infrastructure to ecosystem components such as switching Bridges, developer tools, clients, browsers, wallets and other basic ecosystem components and technology improvement implementations, as well as upper-level applications such as finance, gaming, Internet of Things, and social.
From 2019 to 2020, Web3 Foundation sponsorships are divided into six quarterly batches.
As can be seen from the figure below, from the first quarter of 2019 to the second quarter of 2020, the number of projects funded by Web3 Foundation has been gradually increasing. In 2020Q1 before the launch of the main network, 37 projects were funded, and one new funded project was added every three days in this quarter. In Q2 2020, a new project will be funded every four days on average.