The Difference Between Public Chain and Public Blockchain (Which Coins are in Public Blockchain)

The difference between public chain and public blockchain: From public chain to private blockchain, we all know that it is fundamentally different from Bitcoin or Ethereum. Transactions on the Bitcoin network require a certain amount of computational resources to confirm, while public blockchains use encryption technology to complete this process.

What is the difference between public chain and public blockchain? Public chain is a distributed database system (decentralized application) that allows users to access online data, store and transmit information, and also record ownership on a ledger. Since these digital assets are decentralized and immutable, anyone can easily control their own digital currency.

Public chain consists of a separate network. This enables each node to independently operate validators and perform operations based on rules, providing security guarantees for the blockchain. However, public chains also face two issues: consensus mechanism and governance model. The consensus algorithm in public chains is created based on a block reward economic model, and the public key management scheme relies on the consensus algorithm provided by miners. To ensure network security and maintain the security of the network, notary offices will choose to adopt a sharding approach. The multi-threaded architecture of notary offices is designed to allow trust building protocols among multiple participants, ensuring the integrity of the entire system. In addition, notary agencies also set up smart contract engines to support other services. The main functions of public chains include the ability to achieve cross-organizational coordination. The generating mechanism of public keys works the same way as the proof-of-work mechanism for consensus algorithms. As time goes by, this consensus algorithm is becoming more and more popular, so public chains have the important ability to become the foundation of future financial infrastructure.

Furthermore, as a foundational technology for blockchain networks, public chains must address hidden risks, namely that when attackers’ identities are stolen by hackers, they will utilize the vulnerability of public key generation to steal users’ funds. Both public chain and public blockchain have the following main advantages:

1. Permissionless blockchain, without a central processing unit, while retaining the information of all relevant parties. 2. Serverless, not easily susceptible to attacks. 3. Anonymity and resistance to censorship make it difficult to determine the probability of events occurring. 4. In a “public” state, if something happens or certain circumstances arise, and it is not possible to completely eliminate the possibility of malicious actors, public chains may not respond.

5. The concept of “maximizing public interest” is not new. However, there are currently many different “commercial uses” in the market, such as real estate business and trade financing.

In addition to the above two types, there are many other noteworthy aspects of “credibility”. “Private chains” better reflect market demand, but they do not truly solve the problems at hand.

Which Coins are in Public Blockchain

Which coins are in public blockchain? Today, let’s talk about these public blockchains that are available in the market.

A public blockchain is a cryptographic-based distributed ledger system designed to provide a secure, efficient, and scalable way for humans to store and transfer digital assets, while also allowing other nodes to run and maintain their data sovereignty and cryptocurrencies within the network.

The two most commonly used types of public blockchains are Ethereum (Ethereum Classic), Bitcoin (Litecoin), and EOS (Tron).