Since the advent of the Internet, the cost of information dissemination in human society has been significantly reduced. This leap in communication efficiency has unleashed tremendous productivity. However, traditional internet infrastructure primarily focuses on the efficiency of information transmission, while neglecting the confirmation of ownership and attribution of data. As a result, persistent and structural issues such as “naked data” and “orphaned information” have emerged. Some forms of information carry strong value attributes—for example, remittance and payment details—which still require third-party intermediaries to ensure security and trust. Consequently, the cost of value transfer remains high today.
The emergence of blockchain technology offers a potential solution to this dilemma. With its open, transparent, tamper-resistant, and intermediary-free nature, blockchain enables secure, efficient, and low-cost value transfer. Humanity now has the opportunity to build a trustworthy, programmable value transmission network on top of blockchain technology. In the era of the value Internet, the cost of transferring value will be drastically lowered, once again unlocking significant productivity gains.
Blockchain’s unique strengths—such as verified data ownership and efficient value transfer—make it applicable across various industries, including financial services, contract management, charitable causes, and the Internet of Things. In the years ahead, blockchain is poised to transform the landscape of many sectors. It is far from a marginal technology; rather, it has become a critical battleground in global technological competition. Much like how the Android operating system laid the foundation for the mobile ecosystem, blockchain is establishing the technological bedrock of the next-generation digital world.
Throughout history, we’ve seen that foundational technologies first gain recognition, then evolve into widespread application. Blockchain is entering this next phase. “Decentralization” is the cornerstone of blockchain architecture, while “fairness, openness, and justice” represent the core values it embodies.
Core technologies are the strategic assets of a nation. Blockchain is widely regarded as the next major IT wave following the Internet, and its applications are now rapidly advancing worldwide—from sparks to a raging wildfire.
Blockchain technology has now entered the 3.0 era, making large-scale commercial applications theoretically possible. However, its limited data processing capacity still falls short of meeting the demands of high-frequency, large-scale use cases. In other words, constraints at the infrastructure level are hindering the full potential of upper-layer applications. While the vision is promising, realizing it will take considerable time. Fundamentally, the core issues facing blockchain today are its limited throughput and slow transaction finality.
To address these challenges, the blockchain industry has been exploring several approaches:
1）Larger block sizes: This involves increasing the storage capacity of each block. Bitcoin experimented with this approach—originally, each Bitcoin block had a 1MB limit. In late 2017, SegWit2x proposed increasing the block size to 2MB. However, due to security concerns, the SegWit2x hard fork was eventually canceled.
2）Off-chain transactions: This method includes building solutions like the Lightning Network or sidechains outside the main chain to process transactions off-chain. Ethereum is actively pursuing this path. By locking up a certain amount of ETH or BTC as collateral, users can conduct off-chain transactions through alternative protocols or networks.
3）Delegated consensus protocols: This involves selecting a group of super nodes to form a smaller consensus group. EOS, for instance, uses a "parliamentary-style" delegated consensus mechanism in which a limited number of nodes produce blocks and broadcast them to the entire network to achieve consensus.
Despite these efforts, none of the three approaches has fully resolved the trade-offs between transaction speed, decentralization, and security. The inherent tension among these three dimensions continues to pose a bottleneck.
The LORA public chain aims to address this challenge by developing a next-generation blockchain infrastructure that is highly scalable and compatible. Its mission is to help the industry move beyond proof-of-concept and toward true, large-scale commercial adoption.
Blockchain is widely regarded as the fourth fundamental technological revolution following the steam engine, electricity, and the internet. If steam engines and electricity once liberated physical productivity, and the internet reshaped the way information is transmitted, then blockchain—serving as the core engine for building trust mechanisms in the digital age—holds the potential to reshape the structure of production relations within the global digital economy.
In the financial sector, especially in cross-border financial services, institutions have long faced high costs and complex processes for reconciliation, clearing, and settlement. With its inherent characteristics of traceability and immutability, blockchain technology significantly reduces inter-institutional reconciliation and dispute resolution costs, while improving the efficiency of payment processing—thus opening new channels for small-scale cross-border transactions. As early as December 2017, China Merchants Bank successfully completed the world’s first blockchain-based cross-border RMB interbank clearing transaction, marking a preliminary validation of blockchain’s feasibility in real-world financial applications.
At its core, blockchain aims to solve two structural challenges of the digital age: first, the visibility of asset flows; and second, the low-cost construction of trust mechanisms. Unlike traditional economic systems where the circulation of physical money is often opaque and difficult to control, blockchain ensures that every transfer of value leaves a verifiable record on the chain. More importantly, blockchain enables trust to be established without the need for third-party intermediaries, profoundly transforming the foundations of modern credit systems.
As Yang Yanchao, a researcher at the Intellectual Property Center of the Chinese Academy of Social Sciences, puts it: blockchain’s greatest significance lies in its ability to build a foundation of trust within an anonymous network environment—releasing unprecedented innovative potential. The technology is rapidly expanding into areas such as healthcare, education, philanthropy, and social governance. For instance, in the cultural industry, intellectual property protection has long been plagued by low copying costs, enforcement difficulties, and complex evidence requirements. Blockchain’s end-to-end rights confirmation and traceability mechanisms are now fundamentally reconstructing the trust foundation and business models of content industries.
In summary, blockchain, as a forward-looking and general-purpose technological infrastructure, is demonstrating strong development momentum and cross-sector applicability. It is expected to profoundly impact global economic structures and production paradigms over the next decade.