Blockchain Development Fork Paths: Balancing Credibility and Usability

The development of Blockchain technology presents two forked paths: centralization and decentralization. This fork originates from the trade-off between two core concepts: usability and credibility. Usability refers to the ease of use and quick understanding, while credibility involves expanding the boundaries of human knowledge and establishing trust mechanisms. Bitcoin, as the source, has its basic principles continued by Ethereum, but forks have also emerged during the implementation process.

Some consortium chains have made compromises in terms of availability, as Ethereum does have some usability barriers in practical applications. When the simple transfer function is extended to complex smart contracts, the on-chain logic becomes more complex. Consortium chains show significant advantages in computational, storage, and communication efficiency, and the emergence of this fork is a result of meeting specific needs.

In the entire Blockchain industry, verification is the most critical and challenging aspect. There are mainly three ways to verify: guarantee, accumulative game (approximation), and built-in efficient market hypothesis. Bitcoin uses reconciliation verification, Layer2 employs zero-knowledge proof, while some systems that claim to be decentralized have not truly achieved verification. It is worth noting that Bitcoin has also not fully resolved the verification incentive issue, which has become a key challenge in subsequent developments.

An important contribution of blockchain technology is the construction of a global non-cooperative game system. In this system, participants (such as miners) make decisions based on their own endowments (such as computational power) without needing to establish mutual trust. This mechanism achieves general equilibrium through market pricing, overcoming the dilemmas present in traditional cooperative games.

Decentralized assets are the core product of blockchain technology, and their risk-return structure is markedly different from traditional asset classes. From an information theory perspective, decentralized assets demonstrate greater stability in eliminating uncertainty. Although prices may fluctuate, the transparency and verifiability of the underlying data significantly reduce overall uncertainty.

However, the application of Blockchain technology also faces many challenges. How to replicate traditional financial services in a decentralized environment, how to achieve value capture and retention, and how to maintain an advantage in competition are all questions that require in-depth consideration. Blockchain is not just a simple linear service system, but a complex ecosystem that needs to take value capture and competitive strategies into account from the very beginning of its design.

Overall, the development of Blockchain technology is continuously exploring the best path to balance credibility and usability. Whether leaning towards centralization or decentralization, each choice has its specific application scenarios and value. The future development trend may be the integration and innovation of these two paths to meet the needs of different fields.