Recap: BSV DevCon China 2021

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By Jamie McKane Published: December 3, 2021
Blockchain Devcon 2021 Recap

BSV DevCon China, the second Chinese-language BSV blockchain developer conference, was held in Shanghai on November 13-14, 2021. The event attracted blockchain and technology experts from around the world to discuss and explore the technical innovations enabled by the BSV blockchain.

The two-day conference covered a variety of topics, from building compliance frameworks and smart contract applications to fostering talent in the industry and educating developers about the BSV blockchain. The theme of this year’s BSV DevCon China was ‘Building an honest data network using blockchain’, and speakers encouraged the audience to participate in discussions around this topic throughout the event.

Prominent speakers at the event included Yang Dong, a distinguished professor from China’s Changjiang Scholars Programme, CAA Technical Committee of Blockchain member Professor Yuan Yong, Keyiche Technology CEO and BSV China Hub head Lise Li, Mempool and DotWallet Founder and CEO Lin Zheming, nChain Chief Scientist Dr Craig S. Wright and many more.

The event was attended by a live audience of almost 300 people and was live-streamed to tens of thousands of viewers around the world. If you missed out on BSV DevCon China 2021, we have summarised the event below.

 

Recap: BSV DevCon China 2021

Day 1

 

Day 2 – Forum 1

 

Day 2 – Forum 2

 

Day 1: Welcome – Yang Dong

Yang Dong

The event kicked off with an introductory speech given by Yang Dong, a distinguished professor from the Changjiang (Yangtze River) Scholars Programme of the Chinese Ministry of Education and Executive Director of the Blockchain Research Institute of Renmin University of China.

Dong began by welcoming and thanking the audience for participating in the event, before giving a brief introduction to the Blockchain Research Institute of Renmin University of China. The university has been putting a great deal of importance on the research and development of blockchain technology.

He also spoke about the widespread effects of blockchain on a variety of industries and the need to cultivate expertise to enable these applications.

‘Blockchain technology and its management are closely related to societal governance, financial technology and elements of industrial production,’ he said.

‘We need more innovators, more technical R&D specialists, more talent from the fields of finance and law, as well as other all-around experts from related disciplines in order to carry out the in-depth integration of blockchain technology, finance, law and governance.’

 

Building data integrity by using blockchain – Lise Li

Lise Li

The next speaker to take the stage was Lise Li, the CEO of Shanghai Keyiche Technology and Head of the BSV Hub in China. Her speech focused on data integrity and how this could be enabled by the BSV blockchain.

The advantage of genuine blockchain technology, Li said, is that it can be used to deliver a publicly auditable record of data provenance while remaining efficient and scalable.

‘By its very nature, the blockchain is a publicly-accessible distributed ledger that is also a fresh concept in data networking technology,’ she said. She led the audience through the different methods of recording data over the history of mankind, and then shed some light on the advantages of recording data on the blockchain.

‘BSV is infinitely scalable, boasts a swift speed of transaction, charges a very minor fee and supports omni-functional scripting languages and smart contracts, in addition to being reassuringly stable and secure,’ she told the audience, explaining why BSV has become an optimal choice for blockchain developers the world over.

‘This is a low-cost, globally accepted data network that is trustworthy and publicly accessible for anyone and everyone.’

 

Blockchain engineer qualification program – Chen Yulong

Chen Yulong

CSDN CTO Chen Yulong took the stage next to speak about the Blockchain Engineer Qualification Program which was launched jointly by CSDN and BSV.

The programme evaluates four major modules: basic concepts, fundamental principles, development skills and blockchain infrastructure. Each module has three levels (entry, middle and advanced), and students, developers and blockchain enthusiasts are welcome to apply to the engineer qualification program. Successful applicants will not only master skills for developing blockchain apps, but also be granted endorsements from both CSDN and Bitcoin Association, which will fast-track their blockchain career development.

Chen Yulong and Lise Li

He noted the importance of enabling blockchain talent to grow the number of developers able to create and innovate on the next generation of Internet infrastructure.

‘Blockchains have come to be defined as a sort of infrastructure. We also need to stratify blockchain talents. In the future, there will be people specialized in infrastructure research, which is like those who invent the wheel. But we don’t have to reinvent the wheel. Instead, we need a lot more people pursuing business innovations by means of developing blockchain apps,’ Yulong said.

 

Panel discussion: Ongoing and prospective practices for fostering blockchain talents

Chen Yulong, Lise Li, ad Qing Qin

The next session was a panel discussion moderated by Chen Yulong and featuring the following additional speakers:

  • Lise Li | CEO, Shanghai Keyiche Technology and Head of the BSV China Hub
  • Qin Qing | Chairman of the Students’ Blockchain Association at the University of Science and Technology of China

The discussion was centred around the ongoing and prospective practices for fostering talent in the blockchain industry. The speakers shared their opinions and debated various topics, including some of which they held opposing views. Qin Qing spoke about his own experiences as a blockchain enthusiast and the difficulties surrounding blockchain education.

‘The dilemma in the eyes of all learners of a new technology is how to learn it properly, quickly and efficiently,’ Lise Li said. ‘The launch of blockchain engineer qualification program will not only help more developers identify their respective positions, but also help define the blockchain as a true infrastructure, thereby generating greater values,’ she added.

 

Compliance framework for decentralised blockchain apps – Zhang Feng

Zhan Feng

V&T Partner Zhang Feng took the stage next to explain the details of the compliance framework for blockchain-based applications.

He began with a detailed introduction to the definition of a decentralised application and then proceeded to examine the details of the compliance framework for these products.

Feng also explained the relationship between NFTs and smart contracts, as well as the different aspects of NFTs which may affect their compliance.

‘By nature, an NFT is a sort of technical protocol on non-fungible tokens (NFTs), represents a combination of smart contracts and non-fungible IDs, and operates as a method for marking ownership rights in digital assets.’

At the end of his speech, Zhang Feng detailed four major aspects of compliance for decentralized application products: technical regulation of applications, industrial regulation of property rights and equity interests, financial regulation of asset investments and civil regulation of protocol-based authorisations.

 

The token-less paradigm of public blockchains – Lin Zheming

Lin Zheming

Up next, Fujian Boquan Hash Technology Founder and CEO Lin Zheming took the stage to speak about blockchain applications and token-less paradigms. Zheming graduated from the School of Economics of Renmin University of China and has worked for Apple and Baidu. With ample first-hand experience in the blockchain field under his belt, he has some unique ideas about the industry of which he has been a part for so long.

He posed three questions before exploring the concept of a blockchain ledger’s value and services: ‘How is a blockchain application defined? Why is it necessary to adopt blockchain technology? Can we solve problems without using the blockchain?’

‘Better apps make the ledger’s value exceed its cost. We only need to pay the transaction service providers to cover some costs that arise in the middle of the blockchain,’ he said, arguing that users should not need to pay any fees that could be accounted for by decentralised applications running on a blockchain.

‘The competition mechanism and protection of users’ privacy are the most important tasks in the pursuit of corporate growth,’ Zheming said.

‘We must fully utilize the peer-to-peer characteristics of the BSV blockchain, not allow ourselves to be confined to payments and value transfers, look far into the future, and create more value for the community.’

 

The current state of blockchain and quantum technology – Yuan Yong

Yuan Yong

After Zheming’s address, Renmin University Department of Mathematics Professor Yuan Yong shared a presentation with the audience on the state of blockchain and quantum technology. This encompassed everything from the effect of quantum computing on blockchain cryptography to the establishment of blockchain innovation bases at universities in China.

He noted the Chinese Ministry of Education has mandated by 2025, blockchain technology innovation bases must be established at higher education institutions to foster blockchain technology research teams.

Yong’s presentation also covered topics such as the fundamental concept behind the quantum field, the impact of quantum computing on blockchain cryptology, the impact of Shor’s and Grover’s algorithms on the blockchain, current quantum communication research and practices, and a vision for potential studies to be carried out in the future.

 

New structure for the management of BSV blockchain-based certificates – Zhang Wei

Zhang Wei

After a short break nChain Senior Researcher Zhang Wei took the stage to share his research around a new structure for managing certificates on the BSV blockchain. These solutions can also be applied to scenarios beyond the bounds of public-key certificates, he noted.

‘The validity of a certificate depends on whether or not the corresponding transaction output has been spent yet,’ Wei said.

‘Spending a transaction output to prove that it has not been spent applies only to an application scenario with a limited number of verification times, in which case it is necessary to ensure that the payment and verification are completed in a transaction at the same time.’

His speech explored the technical details of certificate management using the BSV blockchain, as well as the various ways in which it could be made even more efficient with additional work.

 

Future Metanet: Blockchain-based next-generation Internet – Sunny Fung

Sunny

Next up was ShowPay Founder and CEO Sunny Fung, who is also one of the sponsors of MetaID. Fung’s presentation focused on the Metanet, the next-generation Internet running on the BSV blockchain.

‘Although its ultimate form still remains unknown, the Metaverse must be built on the blockchain technology network. Metanet is an Internet that is able to satisfy your highest expectations for blockchain technology. It is happening now, and is not just some imminent visionary concept,’ he said.

This next-generation Internet built on BSV enables the interconnectivity of data and empowers users to truly own their personal information, he said. Thanks to being built on BSV, the Metanet and the Metaverse being built within it are able to serve the needs of everyone around the world using a public blockchain.

‘This brand-new development model and business model has been born. Welcome to the future, everyone,’ he said.

 

Building future-looking apps based on smart contracts – Wang Yiqiang

Wang Yiqiang

sCrypt Co-founder Wang Yiqiang took the stage after Sunny Fung to explain what the sCrypt smart contract language is and give a specific example of a smart contract – a decentralised machine learning competition market.

He began by portraying the evolution of blockchain smart contracts and noting the differing characteristics these can exhibit depending on their implementation. On various platforms, smart contracts can function differently and with varying efficiency. On BSV, he noted, smart contracts are not only highly efficient and publicly auditable, but they are also highly secure.

‘BSV smart contracts are closed data, executed in a functional manner, and impervious to attacks because of their ultra-high security,’ Yiqiang said.

He then provided a demonstration of a decentralised machine learning competition market running as a smart contract on BSV to the audience.

More information on this application can be found in this blog post.

 

The price of consensus and trust – He Rongqiang

He Rongqiang

Following a brief break, He Rongqiang, associate professor and doctoral advisor at Renmin University of China, gave a speech on ‘The Price of Consensus and Trust’.

Rongqiang spoke about single- and multiple-centre consensus and whether the latter offered a more efficient mode of trust. He explored the potential to build trust across multiple centres and the idea of a consensus mechanism as a challenge to this network of trust.

‘Multiple centres compete against each other and therefore have a motive to defraud each other. As such, a certain mechanism must be established in order to enable them to collaborate honestly in order to ensure the accuracy and consistency of the data, hence the name “consensus mechanism”.’

Through a series of detailed explanations, he examined the long-standing misconception that the act of mining based on the proof-of-work mechanism has caused a colossal amount of resources to be wasted and takes a long time to reach a consensus.

 

Fireside chat: the true value of the blockchain record history

Dr. Craig Wright and Steve

To close off the first day of the event, the audience was treated to a frank discussion between nChain Chief Scientist Craig S. Wright and BSV Infrastructure Team Technical Director Steve Shadders.

The dialogue centred on the Bitcoin white paper’s definition of historical records, and the two guests discussed the real value and development of blockchains within this context.

Wright pointed out the importance of public scrutiny as an element of security – a feature provided by the BSV blockchain.

‘Every security system has to be reviewed. There is no other option than open-source,’ he said.

Shadders also questioned Wright on whether the implementation of commercial nodes and node implementation assemblies could occur in the future, with Wright arguing that the importance of the Bitcoin protocol must remain unchallenged.

 

Day 2: Forum 1

 

Introduction to BSV blockchain infrastructure software and tools – Aaron Zhou

Aaron Zhou

The second day of the BSV China DevCon 2021 saw discussions and presentations split into two forums. The first forum featured presentations on the theme of ‘Public blockchain infrastructure and development tools’ and began with Aaron Zhou, a software engineer on the BSV Infrastructure Team, taking the stage.

Zhou’s presentation focused on Merkle proofs and how they interact with the BSV blockchain, focusing on four key topics: Merkle trees and proofs, the standardised format for Merkle proofs, payment verification and a new project released by nChain related to the client processing of block headers. The last topic, Zhou stressed, was crucial to Simplified Payment Verification (SPV).

‘I call it the last piece in an incomplete mosaic. This project is tremendously important and plays a pivotal role in the entire closed-loop of SPV,’ he said.

He also spoke about the future potential of blockchain-verified instant payments, the advantages of BSV’s peer-to-peer mechanism and the possibility of fast local verification as a way to reduce terminal costs.

 

The stratification and evolution of public blockchain infrastructure – Lin Zheming

Lin Zheming-

Next up to speak in the first forum was Fujian Boquan Hash Technology Founder and CEO Lin Zheming, whose talk focussed on the stratification and evolution of the public blockchain infrastructure.

At the beginning of his presentation, he gave a summary of contextual topics, such as the Bitcoin white paper, network topology, Mandala networks and Simplified Payment Verification (SPV).

He then described how nodes are responsible for bookkeeping on the BSV blockchain. ‘

Each node puts the transactional information it receives into a block and tries to locate a task with sufficient difficulty in its own block to prove. Nodes are closely connected with one another, thus forming a small global network,’ Zheming said.

He introduced the Mandala network, which operates a BSV network infrastructure, and spoke about how every node is connected to its peer at each of the higher levels.

Zheming closed his address by exploring the core value of the BSV blockchain and discussing the importance of traceable privacy protection.

‘Privacy protection is only possible when multiple levels of services are available,’ he said.

 

Development of a tic-tac-toe game based on sCrypt smart contracts – Zheng Hongfeng

Zheng Hongfeng on

Up next, sCrypt smart contracts development engineer Zheng Hongfeng delivered his presentation on sCrypt and its utility in easily building smart contracts on the BSV blockchain, even for those with no blockchain development experience.

‘Someone who learns sCrypt does not need to have any experience in developing smart contracts. That makes sCrypt learner-friendly and easier to apply. In addition, sCrypt contracts are Turing-complete and are able to implement smart contracts with any level of technical complexity,’ Hongfeng said.

He described how easily developers can begin to learn about smart contract development on the BSV blockchain. sCrypt developer software is available as a free download and offers a similar IDE to many other popular development tools. This was shown through a quick live coding exercise where Hongfeng guided the audience through the creation of a simple ‘Hello World’ application.

He then introduced Scryptlib to the audience, showing how easily smart contracts written in JavaScript could be integrated into BSV.

‘Scryptlib is the JavaScript/TypeScript SDK duly provided for the sake of integrating BSV blockchain smart contracts compiled using the sCrypt language.’

Hongfeng finished his presentation by encouraging developers to visit their interactive learning website and learn how to build smart contracts on the BSV blockchain.

 

Day 2: Forum 2

 

DotWallet cards: An innovative approach to corporate marketing – Ye Lin

Ye Lin

The second forum was focused on the development and practical examples of blockchain applications, and began with a presentation by Fujian Boquan Hash Technology Operations Director and partner Ye Lin.

Lin spoke about how DotWallet was a prime example of how innovative models in corporate marketing can be analysed before explaining the operations of their Innovative Card Services, which link the BSV blockchain with real-world scenarios.

‘This is an asset management feature launched on the basis of Badge services that helps ordinary users manage an assortment of their own virtual and real-world assets on the blockchain,’ he said.

He also spoke about the Hengjing Digital Collectibles Platform, an NFT service which he said bridges technology and culture.

‘It is launched on the BSV public blockchain and features the core NFT traits of scarcity, indivisibility and uniqueness. In addition, it also allows zero verification of incoming payments, low transaction fees and decentralised verification.’

 

NFTonShow: Embrace a future digital life fully integrated with NFTs – Rachel Tsang

Rachel Tsang

ShowPay Operations Director Rachel Tsang followed Lin with a presentation about the integration of NFTs into everyday life through the power of the BSV blockchain.

‘As a provider of blockchain-based payment and data services, ShowPay is dedicated to promoting MetaID technology to seven billion people around the world to give back virtual rights to ordinary creators,’ she said.

She then examined a few NFT marketplaces available on the market now, whether they are running on a public blockchain, their actual effectiveness and well as their forging costs. She noted that MetaID offers a truly functional NFT platform, NFTonShow, that supports a wide variety of applications on a public blockchain – BSV.

Tsang then introduced MetaBot, which is NFTonShow’s debut commercial project.

‘As the issuer of first-generation MetaBot and a promoter of MetaID, we hope MetaBot can become the most prominent visual identity on the Meta network.’

She stressed that NFTonShow would be a people-focused on-chain platform that features real world authenticity and operates fairly while fostering a culture of collaboration.

 

An introduction to development tools and resources for sensible contracts – Chen Yaohuan

Chen Yaohuan

The final speaker to take the stage in the second forum at BSV DevCon China 2021 was SatoPlay engineer and full-stack web developer Chen Yaohuan.

Yaohuan’s presentation began by explaining the concept of Sensible Contracts, a smart contract solution that offers back-tracing and collaboration while maintaining its state on-chain. His speech focused on four key concepts: compiling smart contracts, querying contract data, deploying smart contracts, and app development.

In his speech, Yaohuan also showed the audience how to use Blockcheck.

‘Blockcheck is a BSV blockchain browser that enables a quick check of token information in sensible contracts and publicly display source codes and the audit status of smart contracts, in addition to allowing DAPP users to examine contract security,’ he said