Lux(λ) |光尘|空灵|GEB
Lux(λ) |光尘|空灵|GEB|May 22, 2025 12:53
The UTXO like model proposed by Sui Chain undoubtedly brings new ideas for the expansion of cryptocurrency. However, to achieve the thorough "adaptive security and reliability" of Bitcoin, it still has at least three steps to go. By delving into these issues, we can not only see the challenges facing Sui, but also gain a deeper understanding of the unique value of Bitcoin as the underlying consensus foundation. The Challenge of Sui Chain: Moving towards Adaptive Security and Reliability Firstly, financial security. The design of Sui Chain should return the dominance of fund security to the Object user holders, rather than relying solely on hundreds of validators. This is closer to the model of Bitcoin users directly controlling assets through private keys, and is the core of truly decentralized asset management. Next is the consensus mechanism. The PoS (Proof of Stake) consensus model may need to shift towards a verification mode of "external P/NP asymmetric interaction". Introducing external energy inputs, like the physical resources consumed by Bitcoin Proof of Work (PoW), can effectively resist "entropy increase". This not only provides a more objective security anchor, but also avoids potential centralization risks that may arise from internal equity allocation. Finally, and most importantly, it lies in the reuse of the underlying account system. We should consider how to reuse the UTXO account base of Bitcoin. The consensus and security of the entire cryptocurrency should come from the vast number of user holders behind Bitcoin UTXO. Only by expanding based on this' maximum consensus' can we ensure that the emerging cryptocurrency system has a solid security foundation. Expanding Bitcoin: Two Completely Different Paths When it comes to expanding the Bitcoin network, it is necessary to distinguish between two fundamentally different paths: The first method is to expand the Bitcoin network based on BTC (a currency asset). This expansion mainly focuses on the financial attributes of BTC, such as lending, derivatives, and other financial products developed based on BTC. This is an upper level application innovation based on the existing monetary foundation. The second approach is to expand the Bitcoin network using a UTXO base based on Bitcoin. This path is more fundamental and is based on Bitcoin decentralized adaptive consensus for extension. This means building broader and deeper applications on top of Bitcoin's core accounting model, utilizing its inherent security and decentralized features. Bitcoin UTXO: The cornerstone of a new order in human society? Don't limit your focus to expanding the financial properties of BTC. In fact, the UTXO account system of Bitcoin is more powerful than the financial properties of BTC. It is not just an accounting system, but also the world's largest decentralized account system in human history. Just as a country is built on the lowest management foundation of population identity, a company is established based on an equity finance system. The UTXO account system of Bitcoin has the potential to establish an adaptive new order for all mankind. This is not just a financial innovation, but also a transformation of the underlying social organizational model. Consensus and security will ultimately return to every user holder behind Bitcoin UTXO. Thinking about how to build a truly decentralized, adaptive, and secure global system on the solid foundation of Bitcoin UTXO may be the ultimate direction for the development of cryptocurrency.
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