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Youth is in full swing, BTS debut
BMs initial appearance was arguing with the founder of Bitcoin, Satoshi Nakamoto, on the issue of Bitcoin transaction confirmation speed and cost in the coin talk forum. In July 2010, BM pointed out that compared with banks, Bitcoin is 10 minutes The confirmation time of a transaction is too long, which is slower than using a traditional credit card, and the handling fee is relatively high. If the consensus mechanism is changed, it may be possible to change it. And this debate ended with Satoshi Nakamoto saying If you dont understand it, forget it, I dont have time to talk to you, sorry, BM stopped replying and let it go.
But not responding does not mean admitting defeat. In 2013, BM began to fully develop BitShares. His original intention of this project was to create a platform that is more convenient and faster than Bitcoin. The phrase beyond bitcoin is enough to prove his ambition.
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Prosperity and decline, the death of BTS
After the product was launched, the experience of BitShares version 1.0 was not satisfactory. Strictly speaking, it was not a qualified product. Due to the short product cycle, it was released without sufficient testing, and the user experience was extremely poor. At the same time, bugs appeared frequently and the system resource occupation ratio was too high, which made users miserable.
In response to this, BM began to develop graphene tools to optimize products, but faced with a very serious reality, research and development of graphene requires a lot of money, and it still needs continuous upgrading and investment. Therefore, BM chose to launch PTS and AGS for financing. The financing of PTS is similar to mining. First, a temporary currency PTS is issued, which can be used to exchange BitShares. By mining this currency, it can be exchanged for BitShares at a ratio of 1:5000. Due to a large number of mining Poached by a small number of people, the result of relying on PTS financing ended in failure. The financing of AGS is similar to ICO, through the issuance of Angel Coin (AGS) to raise Bitshares, and in the future, AGS will be exchanged for Bitshares at a certain rate, so that the project can continue. This round of funding was a huge success. Although BM finally successfully released the graphene blockchain tool and upgraded BitShares to version 2.0, which is more powerful and easier to use. However, the financing of PTS and AGS caused the initial community investors of BitShares BTS to frequently question this decision, and the subsequent launch of the high-risk BTSX made the community dissatisfied. Every decision has led to a big split in the BitShares community, and a large number of community fans have left, and even the remaining communities have criticized BMs decision.
The real trigger happened in November 2015. In the BitShares community’s council vote on lowering transaction fees, the proposal to lower transaction fees gained more support, and the community defeated BM 7:4. BM may think that he can no longer control the BitShares BTS that he has put a lot of energy into. After that, BM published the famous why? in the BitShares community. why? why? 》, and announced to leave BitShares.
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Abandoned Steem, run away again!
After leaving BTS, BM started his second project steem, Steem is the digital currency of the new social media website Steemit, S
Teemit is a content social platform based on blockchain technology. On Steemit, users can post, reply and discuss. The platform will give users a certain amount of Steem rewards based on their behavior and the quality of their posts. Steemit follows the graphene blockchain underlying technology previously developed by BM in BitShares, and satisfies users in terms of transaction performance and user experience.
Different from the BTS period, the development of steem is very ordinary. During the Steem period, BM rarely spoke publicly, and even disappeared for a while. The life cycle of a blockchain project requires continuous innovation and technological breakthroughs to maintain it. As a social platform, once the rules are formulated, only the energy of operation and maintenance is needed in the later stage. At the same time, like most traditional social products, the Matthew effect also appeared in the later stage of the Steem ecosystem. A large number of old users rely on their high rights and interests to praise each other to get rewards. As a result, user growth stagnates. The content is gradually becoming non-nutritive, and steem is in an embarrassing situation. At the same time, due to different development concepts in the next step, BM and its partner Ned Scott fell out. In mid-2017, BM left two short sentences on his own steemit page and announced his resignation.
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Youth needs to be early, how can it be young
In this way, BM started his third project in the currency circle—EOS. EOS is a blockchain architecture platform similar to an operating system, which aims to realize the performance expansion of distributed applications. EOS provides accounts, authentication, databases, asynchronous communication, and program scheduling on hundreds of CPUs or clusters, and can support millions of transactions per second, while ordinary users do not need to pay usage fees.
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Internal and external troubles, EOS is in a difficult situation
EOS once dominated the market, and its price has been rising all the way, but the development of EOS is not as smooth as imagined. First, the project planning has been delayed again and again, and many things that were originally promised to be implemented have become slogans, and the mainnet The release of . The shortcomings of DPOS have also gradually begun to appear. There are 21 super nodes in EOS, and these nodes have the highest rights. Once the 21 nodes do evil or disagree, the EOS ecology will face a devastating blow.
The technology is difficult to break through, the community has a lot of disagreements, and the super nodes are too centralized. Although the main network is finally launched after several delays, the ecological development after the main network is almost zero, and the community participation is too low. Perhaps due to the exhaustion of talents, after the EOS ecology stagnated, EOS released VOICE, a social application based on the underlying technology of EOS. This application is essentially the same as Steemit, the second project of BM. After Voice, the development of EOS ecology has almost no bright spots to follow .
Under the DEFI upsurge, EOS had the opportunity to overtake in a corner by virtue of the advantages of almost zero-cost transactions and second-level chain confirmation, but the official was not warm, and the attitude towards DEFI was not as enthusiastic as expected. In the end, with the EOS Ecologically, the emerald EMD ran away, and EOSs DEFI completely failed.
In terms of the performance of the currency price, EOS has also completely lost the confidence of investors. The currency price trend has no waves, and the market linkage under the big market is also lacklustre. Finally, on January 10, 2021, BM officially announced on the VOICE platform that he would resign as Block.one CTO and would no longer be in charge of the EOS project.
Review BM’s three times of “not leaving”: In 2014, BM stated that it did not announce any new projects and would not leave BTS; in 2016, BM stated that it did not announce any new projects and would not leave STEEM; in 2018, BM stated that it did not announce Any new projects will not leave EOS either. Today, BM has once again left the project he created himself. It is reported that BM will create another innovative project.
The boy genius who had a heated discussion with Satoshi Nakamoto on the future of the blockchain may have died after the failed vote in the BitShares community, and until today, the boy was completely buried. For BM himself, the label of scumbag seems to be with him for a while.
