Nangong Yuan: Currency development teams and mining machine manufacturers, who will dominate the future

1. Development teams and mining machine manufacturers, who will dominate the future

Mining machine manufacturer Innosilicon criticized the Sia hard fork: it will support SiaClassic in the future.

Nangong Comment: SIASia is the Chinese name for Cloud Storage Coin. The purpose of this coin is to decentralize cloud storage. The current market value is 1.7 billion. After cloud storage is decentralized, decentralized websites become possible, but this is a huge project because centralized cloud storage is in full swing and shows no signs of decline.

The SIA development team was dissatisfied with the fact that a large number of coins were mined by mining machines made by mining machine manufacturers, so they planned to modify the algorithm and support their own mining machine manufacturers. This is quite interesting. The development team wanted to control the entire industry chain, and the mining machine manufacturers also wanted to control the entire industry chain. The result of the fight between the two was the emergence of two similar coins competing. The first fork of Bitcoin was probably the same.

This is actually a problem that all POW coins have to face. Monero has also changed its algorithm to prevent Antminer from directly causing the original Monero to fork into Monero and Monero Classic. And behind "Monero Classic" is actually the support of mining machine manufacturers.

The development team holds the code rights, the mining machine manufacturers hold the computing power, and the coin holders hold the digital currency. This is the implicit separation of powers in the cryptocurrency circle. The current trend in the cryptocurrency circle is that the mining machine manufacturers are becoming bigger and want to control the entire Congress, which has triggered continuous wars. Before this bull market, when the mining machine manufacturers were weak, such stories never happened.

There is another metaphor: the development team is the ruling party, the mining machine vendors are the military, and the coin holders are ordinary people. The ruling party and the military compete for control of the country. In the real world, either the ruling party surrenders the military's guns or the military establishes a military government. However, in the world of digital currency, the biggest possibility is to split into two countries. Both countries issue citizenship certificates (digital currency) to coin holders, and both hope that coin holders will support them. In terms of propaganda, these two divided countries are of course constantly spraying each other. Everyone has seen the spraying between the big block party and the small block party of Bitcoin on Weibo.

Some people may still miss the early days of digital currency when development teams and miners worked in solidarity, but now that the pie is bigger and the profits are greater, a fight is inevitable.

As for the development team and the mining machine manufacturers, who will dominate the future of the currency?

I have no idea.

I just vaguely feel that the future of the currency should still be in the hands of the coin holders. In theory, the development team and the mining machine manufacturers are working for the coin holders.

Original address: https://bihu.com/article/1579932