What is the public blockchain?
It is easy to understand that the public blockchain is a completely open data management and operation system based on the consensus of non-specific participants.
Of course, there are not a few project parties that focus on the private blockchain and the consortium blockchain. Compared with the public blockchain, the private blockchain and the consortium blockchain are not fully open. The private blockchain, its read permission can be selectively opened to the public on demand, and the consortium blockchain needs to be authorized to log in and log out the network.
From the perspective of this feature, the public blockchain has the advantage of decentralization. In general, the higher the degree of decentralization, the higher the level of trust and security, the lower the transaction efficiency. In other words, the public blockchain is one of the most in line with the ecological development needs of the blockchain.
From the perspective of the current well-developed public blockchain projects, most of the functions are digital currency transfer, storage, trading, sharing, etc. Only a few public blockchain projects have the development and privacy protection features of smart contracts.
This phenomenon also fully shows that the development of the public blockchain is on the right track and is gradually expanding other technological upgrades. For example, smart contracts, privacy protection, etc., these are the problems that need to be resolved in the later development of the public blockchain.
The two most common public blockchain projects, one is Bitcoin, which is also the earliest public blockchain, from 2008 to 2018, developed for nearly a decade. Another is Ethereum, which is based on smart contracts, making many projects to launch coin on its platform and quickly becoming the largest “app store” in the blockchain world.
The ten-year development of Bitcoin has not been smooth sailing, and it has been conducting dark trading since the beginning. Even the mysterious creator, Nakamoto, has said: “Its technology is not perfect enough, it shouldn’t appear prematurely.” Therefore, during this decade, there have been various discussions and solutions on transaction speed, cost, storage and so on, and people have always been exploring its application value.
The other project, Ethereum, grew up in the myth of getting rich under public opinion. Take the game field as a example, from the pet game to the Fomo3D game, it just grabs the limelight for a period of time, and will soon fade out of people’s sight. Even though more and more projects can be issued on Ethereum through smart contracts, the killer application does not appear.
Judging from the common two public blockchain projects, it has not yet reached a stage of full maturity.
Recently, the emergence of the AtoX project based on blockchain 4.0 technology has pushed the development of the public blockchain to a new level. AtoX attracts the attention of the industry with its three technical advantages: the technology of atomic cross exchange, which can realize the security protocol of value exchange between different blockchains; Lightning network technology can realize unlimited high-speed transactions on a blockchain; The technology of storage before consensus, the transaction of the database table can be pre-executed in the database and then sent to the blockchain network for consensus.
In addition, the project team established a AtoX Swap cross-chain wallet and decentralized exchange on the AtoX public blockchain system, and cooperated with Alibaba, Amazon, MasterCard and other commercial top enterprises to build Swap daily payment system to achieve more landing application.