Changyu was invited to be a guest of "Huobi Everyone Says". As the founder of Babbitt and Bytom, he is also an early evangelist of blockchain. Changyu and host Huang He talked about the unforgettable experience of starting a business in the past seven years and the experience of Bytom. The direction of development and the question of how to invest when the bear market is coming.

Changzhou was first famous not because of the blockchain, but because of science fiction. In 2006, 2007, and 2008, he won the "Galaxy Award", the highest award for China's science fiction, for three consecutive years. "Kunlun", "Route 674", and "The Injury of Fusang" are his masterpieces.

Seven years ago, Changzheng founded the Babbitt community and began to promote blockchain technology and participate in theoretical research. The two books he participated in writing "Bitcoin: A Real and Unreal Financial World" and "Blockchain: From Digital Currency to Credit Society" have become essential books for blockchain practitioners.

Changzheng said that from the perspective of currency, the nature of Bitcoin has not changed in the past 7 years, and today's prosperity is expected. But from a technical point of view, Bitcoin is even greater than he thought.

In 2017, Bitcoin underwent a hard fork, which created divisions in the Bitcoin community. Changzheng believes that there are two kinds of forks. One is to create a new chain and replace the original chain. "This is an act of data tampering. For the blockchain, data is sacred." He did not agree with the implication. But he is optimistic about another fork, such as BCH. "The BCH hard fork is a new project with a completely different technical route. BCH is moving towards smart contracts. It respects the rights and interests of the Bitcoin community without causing confusion."

In fact, Chang-Chang expressed welcome to the Bytom Chain for such a fork, which can bring new paths and explore new directions and new possibilities for the Bytom Chain.

Bytom: the connector between the physical world and the digital world

In 2018, Babbitt held the World Blockchain Conference in Wuzhen. Science fiction writer Liu Cixin said: We are on the eve of moving from the real world to the virtual world. People in the future will live in the virtual world.

In 2017, Babbitt established the Bytom chain team and Duan Xinxing as the CEO. In April 2018, Bytom completed the mainnet launch. In Changsha's plan, Bytom is the connector between the real world and the bit world, atomic assets and digital assets, which fits with the era of great migration predicted by Liu Cixin.

Changzhou believes that 2009 is the 1.0 era of blockchain. In 2017, Ethereum launched smart contracts, and the blockchain entered the era of token economy. What is the 3.0 era? Changzhou's understanding is that the blockchain will move from the issuance of tokens to serving the real economy. Based on this, Bytom's plan is to focus on the development of underlying technologies, and is committed to providing underlying application support for the industry, laying a solid foundation for other companies to achieve asset listings on Bytom.

At present, Alipay is a very good tool for managing legal currency and making payments. In the future conceived by Changsha, users can use the wallet on the Bytom chain to manage assets, such as options, equity, bonds, and even homestay income rights. Moreover, even strangers can conduct asset transactions with each other.

What's interesting is that Changzheng believes that by that day, the distinction between assets and currencies will be blurred, because digital assets can also be cut. With currency properties, the same transaction does not require currency to participate.

"In an ideal world, everyone's assets and credit will be clearly displayed on their heads. It is like a blood tank and magic value in a game, so everyone can trade with strangers."

Chang Chong: I and V God just have different ideas

In 2007, Changzheng published a novel called "The Skill of Slaying Dragons", the core meaning of which is: whoever has the ability to calculate will have the core power. Two years later, Bitcoin was born.

In Chang Chong's understanding, the universe is a computer, and even the collision of motion in real life can be understood as a process of calculation. However, blockchain, big data, and artificial intelligence are all computing in essence, and without the improvement of computing power, there will be no such technologies. "Calculation is the essence of all existence." He said, "Those very new consensus algorithms are crooked."

Changzhou believes that POW is the cornerstone of blockchain. He does not agree that POW wastes resources and mine tyrants cause centralization.

In his view, the reason for adopting POW is to reach a consensus. Suppose, in order to reach a consensus, one IP has one vote, then hackers can control many "broilers" and destroy the consensus. In addition, the consensus must be given a cost. When the attacker cannot afford the cost, the network is safe.

"The higher the computing power invested in POW, the higher the barrier to attack." He said.

Many people have the impression that there is a contradiction between V-God and Chang-chao. Chang-chao clarified in the live broadcast. He said that he and V-God are just different in concept. Chang-chao values ​​POW, while Chang-chao is considering turning Ethereum to POS. In addition, the two sides also have different interpretations on decentralization and bifurcation issues. For example, on the issue of decentralization, God V emphasizes the state, while Changsha emphasizes the process.

As early as the 1980s, the concept of artificial intelligence (AI) was popular, but at that time the computing power was not enough. Until 2016, the AI ​​Go program AlphaGo defeated the human chess player Li Shishi, and the strength of AI shocked everyone.

Changzheng likes Go. In his opinion, AI does not have a human mind. AlphaGo cannot understand why it has to take that move. The only thing that governs its choice is probability, but it can do better than humans. "Artificial intelligence can be understood as the use of statistical methods to show intelligent behavior." He said.

Changzheng is very optimistic about the combination of blockchain and AI. He summarized four directions. First, issue Tokens through the blockchain, and then use Tokens to inspire the community. Second, AI is combined with data to protect data privacy through a blockchain decentralized network. Third, AI and computing are integrated, which can save hardware costs. Fourth, the combination of AI and smart contracts can make contracts truly intelligent.

At present, Bytom has proposed an ASIC-friendly consensus algorithm for artificial intelligence-Tensority, which draws on the advantages of BTC, LTC, and ETH algorithms and improves them. Changzheng believes that the Tensority algorithm will have a positive impact on the AI ​​chip industry, such as reducing power consumption, reducing the design risk and payback cycle of AI chips.

From the winner of the three-time Nebula Award to the entrepreneur in the blockchain field. In the past 7 years, Changzheng has witnessed the development of blockchain in China: digital currency has moved from the beautiful imagination of technical geeks to popular public investment, and blockchain-based entrepreneurship has become a trend.

In 7 years, an industry has been changed, and many people and things have also changed. Chang Chai recalled that from 2014 to 2015 was a very difficult period for Babbitt. The company had to move to a very remote park, and for a time it was unable to pay wages.

"Every day, some people leave, and some partners leave. I was rejected by 50 investors at the time. Finally, I found friends in the circle to borrow 2 million and survived this period of time." At present, Babbitt has completed the A round of financing. The business involves media, community, investment, academies, incubators, and public chain development. Changquan said that he is very grateful for the contributions of his partners during the entrepreneurial period, "As long as the ideas are the same, there will always be someone who will walk with you and help you."

In recent years, one of Changshae’s answers to Zhihu is often mentioned. In 2011, a college student asked a question in Zhihu. If there is 6,000 yuan, what good financial advice is there? Chang Chai's answer is to buy Bitcoin, then forget about 6000 yuan, and look at it after five years. At that time, the price of Bitcoin was 3 US dollars, but now the price is more than 6000 US dollars, an increase of 2000 times.

Chang Chai said: "It looks like you have missed a hundred million, but you don't have the corresponding knowledge background. The information is useless to you, and you may soon sell it."

Nowadays, both the blockchain and the currency circle are facing the crisis of the coming winter. Huang He asked Changzheng, what investment suggestions do you have? Changzheng did not say whether to buy Bitcoin. He said: I think it is better to focus on one direction and do something. "

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