* By Starcoin community
On June 18, 2019, Libra released the first edition of the white paper, launching Move, a secure smart contract language. Unlike Solidity, Move is a linear logic language with high security and can easily avoid security issues in many scenarios. Inspired by Libra, Starcoin soon chose Move as the smart contract language.
Both use Move as the smart contract language, Diem (new name of Libra) is the first permissioned public chain to use Move as a smart contract language, and Starcoin is the first permissionless public chain to use Move as a smart contract language. Diem and Starcoin are both well-known public chains, what is their relationship in the entire blockchain ecosystem? This article will analyze and compare the characteristics of Diem and Starcoin in depth, and sort out a clear context.
Same Security Concept
Since Bitcoin was born in 2008, the entire blockchain industry has been seeking or exploring solutions to make assets programmable. In 2014, Vitalik Buterin’s Ethereum introduced smart contract languages, such as Solidity, which changed this current situation. The data on the chain can be expressed, flowed, and enriched. However, with the advent of the DeFi era, endless security issues have gradually emerged, once again plagued the entire industry, causing the blockchain to be criticized by many people, and limiting the development of the industry to a certain extent. So at this time, some forward-looking experts in the industry stepped forward again, hoping to change this situation and get out of the predicament together. Both the Diem community and the Starcoin community embrace this concept of security, hoping to make DeFi more secure and lead the blockchain industry to break the predicament again and move towards a better future.
To Create a Prosperous Move Ecology Together
Blockchain has broad prospects and can accommodate many public chains in various fields at the same time, especially after cross-chain and other infrastructures are mature, each public chain is actually in a cooperative and complementary relationship, and develop the ecology together to make it more Prosperity.
Both Diem and Starcoin have the same security concept, and both choose to use Move as the smart contract language. The Move ecology is still in the wild before the outbreak, and the facilities in all aspects are not complete. As the earliest supporters of Move, Diem and Starcoin are more of a cooperative and win-win relationship than other public chains, to create a prosperous Move ecology togehter.
Each Vision Has Its Own Characteristics, and Each Track Has Its Own Advantages
The visions of Diem and Starcoin each have their own advantages and belong to different tracks.
Diem is aimed to be a Stablecoin platform, although it can technically support various types of legal currencies and currency basket, it currently only supports USD XUS, which is a payment network for USD. The Diem public chain uses BFT as a consensus and has very efficient liquidation capabilities, but Diem is a semi-public network that requires permission to access, and does not open the ability to deploy contracts. The Diem network can be understood as a change to the existing international settlement systems CHIPS and SWIFT.
Starcoin’s vision is a new generation of layered smart contracts and DeFi networks. It can be seen that Starcoin’s strength is the layer, DeFi and other tracks. Starcoin uses PoW consensus, which is a completely open network, anyone can participate in, and the network is not controlled by any individual. At the same time, Starcoin supports anyone to deploy contracts and write their own business, which is a completely open network.
Different User Groups
Both Diem and Starcoin are well-known public chains in the Move ecology, but the user groups they serve are very different.
Diem’s Account system has very clear user roles and only serves the following types of accounts:
- Treasury Compliance
- Designated Dealer: Designated dealer
- Parent/Child VASP: Virtual Asset Service Provider
Starcoin is a completely open network, without any restrictions, without any personal management and control, and treats all users equally. Any user can start a node, participate in the maintenance of the network, or deploy their own Move contract based on Starcoin, release their own products, and do whatever they want.
Different Governance Methods Promote the Benign Development of Their Respective Ecology
Both Diem and Starcoin have a set of mature community governance methods.
Diem is a regulated network, any participating role must clarify the user’s identity through KYC off-chain, and the user can be mapped into an on-chain account only after approval . In addition to the four roles Treasury Compliance, Designated Dealer, and Parent/Child VASP mentioned above, as well as the Validator that maintains network consensus, all of them need to be strictly reviewed and approved under the chain before an account can be created. It can be said that Diem is a governance method combining off-chain and on-chain.
Starcoin is a completely open network with no restrictions on accounts. In order to promote the healthy development of the ecology and help the community reach a consensus faster, Starcoin has built-in a mature on-chain governance DAO scheme. All users make their own rational choices by voting. Anyone can initiate a proposal, and anyone can approve or decline a proposal. Proposals can only be implemented if consensus is reached in the community.
Rich Surrounding Ecology
Diem is a public chain incubated and developed by Facebook. With a huge user base and broad business needs, there will naturally be a rich surrounding ecology. With the support of Facebook, it can be said that Diem is a public chain born with a silver spoon in its mouth. Although Diem is currently in a difficult period, everyone expects and believes that it will eventually be a bright future.
Starcoin is a completely open network that anyone can participate in. It has exploration and layout in the forefront of many blockchains such as the second layer and DeFi, and the direction is very rich. At the same time, given the forward-looking nature of Move, it is still a blue ocean. With the promotion of Move, everyone will accept Move’s security concept, and users will become more and more assured of the data on the chain. More and more people will come in.
Diem and Starcoin, Complementary and Win-win
Because of the same security concept, both Diem and Starcoin chose Move as the smart contract language.
Because of the different visions, Diem and Starcoin are running on different tracks.
However, with the advancement of the general direction of the blockchain and Move, Diem and Starcoin on different tracks are closely linked to create the Move ecology, which complements each other ecologically, and ultimately achieves a win-win situation.