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On May 24, the "FT Public Chain and Ecosystem Conference and FCoin First Anniversary Community Representative Conference" co-sponsored by the FT Public Chain Team and Consensus Lab was held in Hong Kong. FCoin founder Zhang Jian focused on the four major characteristics and goals of the FT public chain, saying that the FT main public chain will be launched on the test network on June 6, 2019, and will start the main network switch on June 16, 2019.

The FT public chain is based on the improved DPoS mechanism based on community voting and builds a future financial system infrastructure based on the token economy. The protocol assets and sub-assets of the FT public chain can handle more complex asset structures. In terms of equity distribution, the FT public chain can enable ecological partners such as Token issuers and contract issuers to receive corresponding incentives.

Zhang Jian said that the most fundamental goal of the FT public chain is to solve the problem of how to divide the pie. He said, “Some economists say that how the pie is divided depends on how big the pie is. I believe that how the pie is divided is production relations, and how the pie is divided determines how big the pie can be. We are using blockchain technology to promote the company's evolution into the community. The FT public chain solves the problem of how to divide the pie. "

Zhang Jian also introduced the four major characteristics of the current FT public chain:

1\. Native assets, one-click issuance

Supporting the issuance of native assets is one of the core features of the FT public chain. Native assets are issued and circulated by the underlying components of the blockchain, which not only have extremely high security, but also facilitate unified processing by ecological participants such as exchanges and wallets. Bitcoin and Ethereum are both native assets. but
ERC20 tokens are essentially contract data, not native assets. The degree of security depends on the programming level of each contract developer.

Issuing digital assets must be safe, fast, and low-cost. Issuing ERC20 tokens is not only time-consuming, labor-intensive and costly, but also prone to vulnerabilities. The FT public chain not only supports the issuance of native assets, but the issuance process is also extremely simple. Users only need to fill in the asset information on the wallet interface to achieve one-click issuance.

2\. Protocol assets, allowing circulation to follow rules

Protocol assets are an important feature of the FT public chain, enriching the native asset types. Protocol assets allow asset issuers to define their own circulation rules, which strengthens the controllability of the asset circulation process. At present, the native assets of various blockchain systems, such as Bitcoin and Ethereum, are circulated through unconditional transfers similar to cash. In the real world, most asset transfers must follow certain circulation rules. For example, a certain asset is only allowed to be traded between specific accounts, which can be achieved through account restrictions on protocol assets. For example, KYC rules in traditional finance are account restrictions, but KYC is realized by financial rules, while protocol assets are realized by technology. The protocol assets of the FT public chain can map assets with different circulation rules into blockchain assets. In the foreseeable future, protocol assets will be spread across many fields such as finance, real estate, medical care, e-commerce, sharing economy, and knowledge payment.

3. On-chain snapshots to achieve decentralized community governance

The original on-chain snapshot of FT public chain can be used in smart contracts. This enables on-chain dividends, on-chain voting, and other decentralized community governance functions. With on-chain dividends, you can eliminate the need for intermediate links and distribute digital asset income directly on the chain. With on-chain voting, you can not only vote on community governance proposals on the chain; you can also directly control the digital assets raised through on-chain voting and even control the additional issuance of project tokens through on-chain voting to obtain further financing.

4\. Handling fee allocation mechanism

In the traditional blockchain ecosystem, all accounting fees generated on the chain are obtained by bookkeepers, such as miners and super nodes. Although the issuers of Tokens and contracts have contributed to the entire ecosystem, they do not have any incentives themselves. They can only rely on the price difference generated by Token transactions to obtain income, as if they are outsiders in the ecosystem. The FT public chain allocates 80% of the accounting fees to Token issuers that issue assets and contract issuers that develop application scenarios, so that these participants who contribute to ecological development receive positive incentives. The FT public chain will be the main chain of all participants and the home of all competitors.