Lava Chinese community online interview

In this period, we will interview the developer of the Lava core development team, Uncle ZHONGBENYING, on some related issues the community is now very concerned about.
Q：What about your team’s recent development progress?
A：
Currently, the Lava technical team is focusing on developing two projects. One is the Cold Firestone we mentioned before. By this far, an alpha version has been fully developed and used in conjunction with mining pools. Yet since the Cold Firestone is complementary to the rest elements of the entire Lava development blueprint, using the Cold Firestone before the development of other elements are completed will unavoidably bring about some flaws in the business (we will talk about this later). Meanwhile, however, the development of the Cold Firestone is the most fundamental part of the entire development blueprint. That’s why the Lava technical team eventually decided to give priority to the development of the Cold Firestone in the whole process.
The second is the Symmetric Cross-chain Atomic Switch which has not been talked about before (the official name has not been decided yet). I guess you might think this is a very obscure name. In fact, the Symmetric Cross-chain Atomic Switch functions in a very simple way, that is, to achieve decentralized and trustless Bitcoin and Lava cross-chain transactions. Imagine how convenient and exciting it will be when Alice holding BTC immediately completes a transaction with Bob holding LV through our switch without any intermediary or the need to recharge BTC, purchase LV, and take LV through exchanges, which otherwise will require a huge sum of transaction fee and trouble users with the worry of exchanges being stolen.
At present, the Lava technical team has completed the technical verification of the Switch and is gradually advancing subsequent development and tests. I believe that in the near future, we will be introducing the design and use of the switch to the community in great detail.

Q： What is the Cold Firestone, can you tell us about its origin?
A：
As we said in our previous live broadcast that the Cold Firestone is the key to our entire development blueprint. Also, it complements other elements. Then how should we understand the Cold Firestone? We shall start with explaining the reason why it was needed, which involves two known defects of the current Firestone.
The first is about private key being leaked. I believe everyone has found out that if you want to use Firestones in finding a block, you have to deposit your private key in the full nodes of the block. However, for those average users, the full nodes are exposed to a network that is not that secure, where you cannot create a firewall to protect your own host like when you are dealing with Firecoins. Some users of huge computing power consumption may put their nodes on the Alibaba Cloud, which in fact is just relatively safer than their own PCs. Even if your storing platform is as strongly credible as the Alibaba Cloud, there is still a possibility of your coins being hacked. There is a man in the community who suffered a painful loss of 50,000 LVs when forgetting to exit the program after logging in the Alibaba Cloud.
The second is the issue of trust crisis. I don’t know if you have seen that the purchase of Firestones has actually developed into two modes. One is that miners buy Firestones for their own, and the other is that token holders buy Firestones for miners and they privately make agreements on dividing the gains of finding blocks (in fact, it is like renting Firestones to the miners). Though both these two modes are actually what we hope to see, the technical team still has some concerns about the latter.
Technically speaking, a token holder buying Firestones for a miner is the same as the token holder buying Firestones for an address that does not belong to him/her. This will cause a problem, that is, mortgage funds will nevertheless be released by the very address regardless of whether Firestones have been actually used for finding blocks or just expired. The decision is never in the token holder’s hands. This also means that the token holder has no choice but to trust the miner address, or in other words, he/she has to face trust risks. We can’t ignore the existence of such risks because we haven’t seen terrible things happening. We need to be clear in our mind that there is no unbroken bottom line in the blockchain world, which may imply that sometimes our loss cannot be covered by our gains.

Q： Can we understand that the Cold Firestone is actually providing us with a safer and more decentralized Firestone lending mechanism?
A：
You may say so. Given the security and trust related issues that we previously described, the Lava team felt it necessary to provide a safer choice for our community users, and that’s how the Cold Firestone came into being.
In using Cold Firestones, you do not need to have your private key stored in block nodes, and it is not necessary to directly purchase Firestones for users of great computing power consumption. Users can directly purchase Firestones to their own addresses and process Firestones into Cold ones by using some new functions (this step only requires the user’s own private key, so it can be operated in an offline environment). The data packet serialized by the Cold Firestones can be transmitted to the users of great computing power consumption (the transmission process can even be through WeChat, mail, etc.). Then users load the packet into their own block nodes based on their received Cold Firestone data and wait for the block generation and the Cold Firestone CRIT. We can see from the whole process that users of great computing power consumption no longer need to import their private key into their block nodes. Also, users do not need to buy Firestones to the address of others. Thus, released LVs will directly return to the purchaser’s address after the Cold Firestone CRIT, eliminating our aforementioned security and trust issues.
Of course, the current Cold Firestone is definitely without flaws:

1. There will still be 320 LVs entering the address of the blockers (the above-mentioned users of great computing power) after the Cold Firestone CRIT, the proportion of which needs to be determined by the two parties through negotiation.
2. The Cold Firestone data packet may be intercepted or stolen by others. Although the release will eventually return to the buyer, the 320LVs after the Cold Firestone CRIT may be siphoned off by hackers.
   These flaws will be gradually resolved and finally perfected after the rest elements mentioned in the blueprint are launched.

learn more link:
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Twitter: https://twitter.com/LavaStorage