On September 12th, during the “Web3 Asia Power” summit at TOKEN2049 in Singapore, Han Feng, a PhD student and visiting scholar at Columbia University, former blockchain consultant at Huawei Central Research Institute, and co-founder of Elastos, shared his forward-looking vision for the future of the blockchain industry. He emphasized the importance of a unified cognitive system and intelligent algorithms, as well as the key role of blockchain in achieving this goal.
Han Feng first emphasized the enormous potential of blockchain technology in creating a unified cognitive system and intelligent algorithms. The huge success of ChatGPT in the field of AI demonstrates that it is entirely possible to achieve unified intelligent algorithms across disciplines. Professor Gu Xueyong and Han Feng had already offered a course titled “Cognitive Foundations Beyond Disciplines” at Tsinghua University back in 2015.
He believes that blockchain can break down the barriers of asset and transaction rights and cognitive barriers among different public chains by developing BTC L2 as an opportunity, using BTC timestamps as the basis to unify the algorithm consensus and cognitive rules of smart contracts on various public chains. This innovation in the unified digital asset and transaction rights cognitive system will not only be a technological advancement, but also trigger revolutionary changes in the entire human economic society.
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Han Feng pointed out that a key feature of the blockchain revolution is its ability to provide “timestamps” for digital asset transactions.
The Bitcoin network has relied on this innovative mechanism to ensure that there have been no counterfeit coins for over a decade. This is a feat that no currency system in human history has been able to achieve, and it is also the fundamental guarantee for Bitcoin’s market value surpassing gold by 2025. Because it ensures the absolute correctness of the causal order cognition of asset transactions.
This technological innovation and the proof-of-work (POW) mechanism will play a key role in realizing a unified cognitive system for public chains in the future. And Elastos, through the mechanism of joint mining with Bitcoin designed by Rong Chen, currently ranks second in terms of computing power in the POW system, naturally making it a strong supporter of building the BeL2 test network.
He also shared the technology stack that the BeL2 team is currently researching, based on the achievements of the MIT Digital Currency Research Institute. This technology uses zero-knowledge proof technology to unify the “timestamps” of different public chains and smart contracts, aiming to achieve seamless connection between the Bitcoin public chain and other smart contracts. This means that different blockchains will be able to share the unified “timestamps” of the Bitcoin network, and there will be an opportunity to build a unified asset rights and transaction system that spans Bitcoin and Ethereum public chains.
Han Feng believes that the true significance of blockchain lies in its provision of a unified “true knowledge” algorithm for the first time in human history. In the past, people had to rely on various authorities to determine what is true and correct, but blockchain establishes the authenticity and correctness of transactions and assets as an undisputed computing standard and mechanism through global computing, timestamps, and consensus mechanisms. This has profound implications for eliminating systems of lies and scams that “call a deer a horse”.
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