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What does public chain coin mean (what does a public chain coin wallet mean)

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What does public chain coin mean (what does a public chain coin wallet mean)

What does public chain currency mean In Chinese dictionaries, blockchain is referred to as “distributed ledger”. It solves the problem of data storage through consensus algorithms, encryption technology, and transaction processing methods. For example, the PoW mechanism of Ethereum and the DPOS mode of EOS and other projects use the block rewards generated by Bitcoin mining to achieve decentralized applications or projects. However, due to the high cost of gas caused by Ethereum network congestion, the public chain cannot support large-scale user participation. This also includes ICO (Initial coin offering), private equity (STO) and so on. What does a public chain coin wallet mean? We know that public blockchain is the underlying infrastructure of blockchain. For example, Bitcoin is Ethereum or Bitcoin Cash cash. On the public chain, public keys can be used for management, and private keys can be shared with others without disclosure; And without the need for third-party wallets, they can also be used to store private keys (implemented through smart contracts). So to use Cryptocurrency wallet, public key and password, digital certificate and some tools are all very important In addition, the public chain wallet also includes many application scenarios, such as games.

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