The DxChain team shared our viewpoints regarding the blockchain computation and storage, along with the general direction for future blockchain advancement.
DxChain’s CTO and chief scientist Wei Wang was invited and attended the Global Blockchain Conference on April 2nd in Santa Clara Silicon Valley. Along with Wei, the blockchain domain’s fifty most illustrious experts all attended this event. Aside from a startup like DxChain, traditional lead of tech industry like Apple also came and presented their views to blockchain.
“Blockchain has many important and innovative ideations, such as decentralization and immutability. Nevertheless, so far, there are only few real applications, such as financial transactions and tracking assets in a supply chain.” Wei talked about the team’s original intention to the creation of DxChain, “We believe that if we can take full advantage of the feature of the blockchain in the area of storage and computing, we can fundamentally change the advancement of the internet. Based on this concept, we built a decentralized big data and machine learning network, which powered by a computing-centric blockchain.
Wei, as the CTO and chief scientist, is also the co-founder of DxChain. Prior to this achievement, he served as the principle scientist of Blockchain research in AT&T, and has researched Blockchain since 2016. He has also worked at Hortonworks as the principle scientist for big data, parallel computing and artificial intelligence.At the Global Blockchain Conference, Wei had a 40 min presentation and QA session.
Blockchain has been around for almost ten years. Even though, many people have worked diligently towards this ideation; however, to this day, no one can really resolve the problem of storage and computation on blockchain.
Wei discussed DxChain’s innovations and the chains-on-chain framework design. “ Master chain is in charge of transaction-related operations and coordinating two side chains, which are responsible for computation and storage, provide a solution to data computation, storage, and privacy issues.” Wei also denoted, DxChain’s renovation is not without proper scientific value and proof. It stands upon the shoulders of the giant “Hadoop’s” structure and foundation. At the same time, DxChain’s theory utilizes previous Hadoop’s core framework and design for MapReduce.
In addition, professionals in the audience has raised questions to Wei which deepened our understanding for this project. “So, are you going to compete with industry tycoons like Google and Amazon?” Wei responded that eventually, this will occur in the future, “For example, recently, at Facebook, there was an incident of data leakage. Our data storage cannot resolve the problem of data leakage one-hundred percent, but we can let data storage become more transparent. If someone utilizes data, we can track it; unlike currently, all data is controlled by one or two data giants in their little black box.”
With respect to the example regarding Facebook, it is our company’s ideology to revolutionize the next generation of the internet. We are committed to create a distributed blockchain data storage and computation network, and let data storage become more secure, transparent, and decentralized.