Metaverse CTO Chen Hao talks about digital identity via a Live-streaming Show [part4]

Note:This part is the Q&A part during live-streaming show. Chenhao answered below questions when they instantly posted on live-srteaming.

Q: How are infrastructure nodes selected in public blockchains?
A: Generally, only full nodes built by institutions and miners provide these services. An ordinary user does not need to select nodes. In the whole P2P network, node selection is random.

Q: What is node credibility?
A: Node credibility is related to consensus. If the network is not isolated and produces two separate networks, this is a fork. Chains grow in different ways, but eventually they will merge into one chain, with the other becoming a waste chain. Forking usually causes very bad results. Thus, we only need to ensure that the entire network is not isolated, and all transaction broadcast can be accepted and verified. Then the network will run smoothly.

Q: How is the credibility of the underlying technology protected?
A: The credibility of the underlying technology is protected by computing power. The amount of computing power level determines whether the blockchain is easily tampered with or not. The higher the computing power is, the more stable the blockchain.

Q: Is computing power level connected with centralization?
A: There is no connection between computing power level and centralization. Large amounts of computing power only indicate that there are many miners. There will be no issues as long as we ensure that there are several mining pools and create a competitive mining situation.

Q: What will happen if one mining pool represents 80% of the computing power?
A: If that happens, it will be very dangerous and the mining pool will be able to tamper with the ledger. However, it cannot tamper with all ledgers because of the number of blocks needed to safely confirm a transaction. In Bitcoin, 6 confirmations (6 blocks) are required, after which it is almost impossible to modify a transaction.