Decryption White Paper Series（7）
As the airdrop approaches, we have begun to publish DW20 white papers, chainless white papers, and comments from experts. The knowledge span of cryptocurrency is enormous. Based on our learning experience, we have launched a white paper series with various authors and perspectives. There will always be one that suits you. There are five versions of the DW20 white paper; there are two versions of the chainless white paper, suitable for different readers. We will publish them starting with the most readable version. Interspersed with commentaries.
Zhu Weisha November 2023
XX:
I read you do represent some people’s views; very good! The more questions, the better. Truth is not afraid of debate.
Discussion follows:
Q: “Whether it is the future bitcoin standard or the DW20 standard currency, a journey of a thousand miles begins with a single step. Let’s see how the public can experience the centralized chainless technology of Yuxing Technology to realize the airdrop of 80% of the total amount of DW20.”
A: 1. What is centralization? For Bitcoin, is it an airdrop through the same program? The conclusion is yes. The decentralization of Bitcoin is different for bookkeepers. Those who get the bookkeeping right will record tokens for themselves. The token itself does not cost money to obtain. Spending money is fighting for the right to bookkeeping. Bitcoin bookkeeping rights and storage are decentralized, but the ledger is still centralized. Which ledger is different? The discrepancy only occurs during the one-hour verification period. Is the same program not centralized? Also yes. Distributed depends on what is distributed. Bitcoin control is decentralized, and the program is not decentralized. Ethereum has a control center – the Ethereum Foundation. Its currency issuance is also a program according to the rules, the ledger is still centralized. The core and essence of cryptocurrency is whether the issuance process and results are transparent and follow the rules. Simply using centralization as the criterion for judging is a one-sided generalization of the Bitcoin system. It only looks at the phenomenon and fails to grasp the essence.
2. Transparency is the core concept of the Bitcoin system. The chainless platform is a transparent system based on the blockchain, which implements the idea of Bitcoin. The bottom layer of the chainless platform is developed based on the Near chain. Still, it is not a blockchain ledger but an index ledger with better privacy protection than the blockchain and a more transparent general ledger. Is it a problem for a project to have a team? Ethereum has a team. The key is transparency and community decision-making.
3. The project that is not Yuxing Technology, is the project of the team.There is a foundation.
4. Our airdrop is based on a pre-written rule and recorded on a transparent ledger after issuing it.
5. Airdrops have been proven to be the best way to acquire customers in cryptocurrency.
Q: “DW20 will only be valuable if it gets users, and users need to see what they can do with DW20.”
A: 1. What is Dogecoin used for? What are meme coins used for? Depends on the narrative. The narrative of DW20 as a standard for Bitcoin is large enough. What is Worldcoin used for? What is PI used for? They chose to get customers first. The sooner you believe in the narrative, the lower the opportunity cost. If narrative happens? Hal Finney dug 70 blocks and stopped digging, 3500 bitcoins. Hal Finney conjectures that it is 10 million dollars each. Interestingly, he believed that this is a vast fortune. He, the great pioneer of cryptocurrency, Satoshi Nakamoto’s Watson, chose a centralized institution to host his wealth.
2. The sooner you believe the narrative, the lower the opportunity cost. “What if it happens?” This sentence was said by Satoshi Nakamoto, which Bitcoin proves. As an early holder of Bitcoin, if only he had known a little technology at that time, the rapid rise of Bitcoin must have fainted. All the bitcoins in his hand may be sold out, and he was full of regret like Laszlo. If you have 5 Bitcoin addresses and are in the first cycle of DW20 issuance, you will get 1 million DW20 tokens. If it works, it will be 1 million US dollars. It will take only a few years to achieve class leapfrogging. The key is that you have not done anything. There are three types of currency: value currency, stable currency, and standard currency. Only value currency (air currency, meme currency, equity currency, asset currency) has this opportunity. It is precisely the design logic of DW20 to realize the triple jump from value currency to stable currency to standard currency.
3. Hard work does not make you wealthy; speculation is hard to get rich; getting rich is about grasping opportunities. With a standard of 500,000 US dollars, DW20 can help hundreds of thousands achieve class leapfrogging.
Q: “How to realize the DW20 airdrop corresponding to the Bitcoin address without the chain, without the Bitcoin network fee.”
A: The total number of DW20 is minted in the Bitcoin system through the BRC20 protocol and transferred to the chainless platform step by step, and the originating team pays the handling fee. The chainless platform has a DW20 indicating register, which shows the total number of DW20 held by the chainless platform. This total and the DW20 value held by the chainless sub-account (user) are in a reconciliation relationship and are completely equal. Data transparency. The first year of transfer within the chain is free, and with the DW 20, they are charged at $1. there is a fee for going to the chain. It is the Bitcoin system fee.
Q: “The decentralized lightning network has realized the fast payment of Bitcoin. Chainless has to face a more powerful, quicker payment function than the lightning network. Users need to make a choice between the two: believe in the decentralization of the POW mechanism, The Bitcoin Lightning Network, and the centralized Yuxing Technology’s chainless and small personal team, who centrally control the release of 100% DW20. When the airdrop started, the value of DW20 was zero.”
A: 1. The Lightning Network is as old as Bitcoin and originated from the community discussion on payment channels in 2009. In 2011, forum user “hashcoin” briefly described a two-layer payment channel that required users to exchange multi-signature transactions, and the timelocks of the transactions depended on each other to take effect. Payment channels and network design have evolved over the years, and all the pieces finally came together in early 2015 to form a complete puzzle. Smart contract trading platform Mirror CTO Thaddeus Tadge Dryja and Joseph Poon published a white paper titled “The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments” in February of the same year. In the summer of 2017, Segregated Witness was finally activated, the basic work of the Lightning Network was completed, and the first transaction was started.
It is a pity that in October 2022, according to the statistics of the 1ML website, there were 86,497 lightning network status channels, and 5,015.23 bitcoins were locked. On August 7, 2023, the lightning network status channel was 68970, and the number of locked bitcoins was 4702.21, and there has been a decline!
After experiencing the wave of BRC20 in March this year, the Lightning Network has not yet risen. Generally speaking, users and transaction volume will show an S-curve growth for a good Internet project. When the indicators do not grow, it is a sign of peaking. Obviously, BRC20 has not promoted the growth of the Lightning Network; relying on the “more powerful payment shortcut function of the Lightning Network” will reflect the power of the Lightning Network. Too bad we didn’t see it. Due to the limited capacity of the Lightning Network, it can be seen at a glance that this is a niche market product, and it is not easy to enter the mass market. From the perspective of the Internet, success can be seen in three years, and it can be achieved in six years. The same is true for cryptocurrencies; look at the leaderboard of cryptocurrencies.
2. The logic of the stock market is to look at the future. Will a project that lasts as long as Bitcoin rise again? Will a project that hasn’t grown up in 14 years grow up? Unless there is a second spring, there is no chance. What is the second spring? Generally have to be reborn. A big project must have grown from a small team and be a new market with huge potential. DW20 is not against the Lightning Network but against the entire fiat currency, uniting with Bitcoin to realize the cryptocurrency elites’ dream of changing the world. Therefore, it needs a clearing, settlement, and payment platform to replace web2, the chainless platform, to accomplish what Ethereum cannot do.
3. “They centrally control 100% DW20 release” is a misinterpretation of centralized control, which I explained in the previous section.
4. “DW20 with zero value at the start of the airdrop”. Didn’t Bitcoin start as air coins?
Q: “The progress of Sats of BRC-20 is accelerating and has no value, but after 5 months of scientific popularization, the number of people who BRC-20 has recognized is increasing. By August 6 and 44.45%, there are 28,075 currency-holding addresses. It is estimated that by the end of the year, The number of users may exceed 50,000 if the digging is completed before.”
A: That is the biggest failure of Sat’s design. Only when 50,000 people get something the fool will carry the sedan chair. How many users does Bitcoin have?
Q: “The Sats are generated in mining, and the price is the handling fee. The SATS of BTC is benchmark to the real gold and silver.”
The value of several dollars is a fixed cost; how to increase it? Bitcoin is a computing power increase mechanism, and DW20 is a user increase mechanism. The value of the chinless platform and DW20 user value resonate to show unlimited potential. What is the increase mechanism of Sats?
Q： “The Sats are completely duplicated and duplicated with Bitcoin SATS in function. The lost 8 million bitcoins were converted into SATS of BRC20 by the civet cat for the prince. The earliest consensus is the 50,000 currency-holding addresses that came in this early stage. DW20 is also facing the postgraduate entrance examination. How to get the 50,000 user address.”
A: 1. How to exchange the lost bitcoins for the prince? The missing Bitcoin account cannot be moved; how do you change it and prove it is lost? Can’t see Sats having this feature. Some people say that Sats can correspond to every address of Bitcoin, but which Sats corresponds to the lost Bitcoin address? First, please prove that the address is lost. And if I didn’t lose it, why should I change it? Who will replace it if lost? It is also the impossibility.
2. DW20 is to revitalize the Bitcoin residual value account. There are more than 50 million addresses with residual value. Airdropping them is to affirm the residual value of the account. These residual value accounts can be sold to others. There are many methods. Chainless supports anonymous registration. That is to say, an address can generate a chainless wallet and then sell it to someone who does not have a Bitcoin address, and others can register with their real names again if they take it.
：In bold letters is XX’s mail
