Why is “Coming” ？
For a long time, we have lived in a physical three-dimensional world. The Internet gradually emerged in the 1990s, opening up the dimension of information and creating a channel to connect “parallel universes”. We have successively integrated this the digital world into our lives. We created a sort of four-dimensional world.
Then in 2008, when Satoshi Nakamoto created Bitcoin, the birth of blockchain technology opened the dimension of trust, and the digital world gained another dimension, marking our entry into the five-dimensional world.
In a multidimensionally intertwined world, the boundaries between the digital and physical attributes of our identity, image, communications, and even assets have gradually become blurred. While we are enjoying the convenience and fun brought by the multidimensional world, with the exposure of individual privacy leaks, we have gradually realized that we are practically naked in the digital world, and people have begun to seek new answers.
Using the opportunities of this era, the Signal communication software was born. It solved the privacy problem of communication information through end-to-end encryption. In just a few years, it has accumulated hundreds of millions of downloads. Another opportunity was was grabbed by payment platform Paypal, supporting Bitcoin payments. Adapting to the asset form of the new era. IM giant Wechat expands the ecology by launching small program functions, and strengthens the interaction efficiency between people and the real society.
These applications seem to have filled the gap in the new era, so why do we still insist on developing Coming?
Why not Signal?
“Your serve-side code is doing too much” — — Elon Musk
Although Signal is end-to-end encrypted, the communication process still requires a lot of work from the server, such as caching some pictures and information, which also led to the embarrassing scene of a complete downtime of the Signal service in January 2021. In addition, Signal registration and adding friends can only be done by mobile phone number, which undoubtedly has some “pseudo-privacy” appearance, for example, it is completely possible to query your chat partner on the Server end, and in most areas the phone number is tied to a real name, removing more privacy.
In addition to continuing the advantages of Signal’s end-to-end encryption, Coming will refer to the blockchain’s distributed thinking for the two thorny problems encountered by Signal. On the one hand, it will make the server-side light enough and allow for a broader CDN, adding a MEC structure to avoid downtime. On the other hand, Coming will replace the phone number-based account system to a DID (Decentralized Identity) account system gradually, which fundamentally solves the problem of “pseudo-privacy”. In addition, due to the implementation of DID’s on the blockchain, it can also integrate into the digital economy without much effort.
“Disappointed by this” — — Adam Back
(“This” refers to the announcement by Signal on April 6, 2021 that it will integrate the digital currency MobileCoin application to build a new peer-to-peer payment system)
Adam Back, a pioneer in cryptography, inventor of Hashcash used in Bitcoin and founder and CEO of Blockstream, also expressed our feelings of disappointment in Signal’s peer-to-peer cash payment announcement. We do not deny that the future will be an era where multiple digital currencies are intertwined, but in the early stage of the rise to a digital economy, Bitcoin, which has the highest degree of decentralization and the strongest consensus, should be used as the transaction currency instead of a young digital currency like MobileCoin.
At the beginning of the Coming project, we decided to use X-BTC (BTC after cross-chain) as the circulating currency in the system, because we have always believed that although BTC is called digital gold, it cannot and should not be like gold. Just being stored in a warehouse or worn occasionally, its value should be circulated to the greatest extent. Coming is one of the carriers of BTC circulation. People can realize a second-level X-BTC transfer experience in the software, and this only needs to pay a few cents of fees.
Why not Paypal?
We have always agreed that Paypal is a very good company. From its earliest support for digital currency payments, it can be seen that Paypal is willing to actively embrace the changes of times. But perhaps because the “big wheel” is not easy to turn, or because of its lack of blockchain genes, Paypal seems to completely ignore the friction cost (handling fee) brought by the direct use of Bitcoin in the daily payment process. It seems unacceptable. It’s hard to imagine that I would have to pay a $20 handling fee for a $15 pizza, and I would have to pay a $20 handling fee for a $50 red envelope. In Coming, the problems faced by Paypal digital currency payment will be easily solved because of the transaction fee of X-BTC is as low as a few cents.
Why not Wechat?
Wechat is one of the world’s most recognized IM giants. Its ecological derivation, system stability and convenience of interaction are among the industry’s best in existence. But why don’t we think that Wechat can fully carry the important task of the new era? Regardless of whether WeChat’s communication function or small program function, how stable and good the interactive experience it has, the trend of the times must be privacy and decentralization. As a fully centralized program, WeChat is not the answer for people’s decentralized needs.
As for Coming, we will also integrate the functions of “small programs”, but the difference is that these small programs will be “Dapps” (Decentralized Applications), which means that Coming will aggregate all outstanding public chains. The smart contract platform allows users to freely deploy small programs to the decentralized platform, and have their own small programs instead of small programs that may become paid or removed at any time.
As mentioned above, throughout the world, even if many companies are already promoting the changes of the times and the progress of civilization, there are still many gaps that need to be filled by latecomers, and Coming is willing to be one of them.
We hope that in the future, there is no longer a need for giants like Google to promise “Do not be evil”, but rather they “Can not be evil”.
Coming, an encrypted messaging app with digital asset transfer function. Our communication module is built on the end-to-end encryption protocol to ensure the privacy of communication , and the transfer module will use X-BTC (BTC after cross-chain) as the circulating currency in the system with extremely low transaction fee.