What do public blockchains have (including the construction of public blockchain infrastructure)?

What do public blockchains have? In the blockchain industry, due to the immutability of distributed storage and the characteristics of decentralization, many applications can share data. Therefore, some projects choose to use public blockchains as a solution to achieve faster, better, and more secure data transmission and access speed.

However, as network effects become larger, these issues will become more complex. To solve this challenge, we need to consider what types of public chains exist: consortium chains (Blockchain), private/permissioned blockchains, non-governmental or corporate blockchains. These platforms typically use public key encryption and interact through smart contracts to ensure the security and integrity of transactions; open listing systems that allow anyone to create multiple accounts based on one account and are controlled by a single entity. These protocols are designed to allow people to quickly participate without worrying about owning everything. This situation has not yet occurred, but such services have been developed and have received attention and support from many industries. (Bitcoinist)

So for most companies, their interest in private blockchains is increasing. For example, IBM provides an open-source framework for businesses to manage their private digital asset records. In addition, the company has released a suite of software versions for customers to deploy their own private databases. These software versions include three core functions: peer-to-peer (P2P) publication, anonymous submission (RPC), and verifiable random number (SPO). These three functions are different because they can all be issued and sold in a way similar to Bitcoin or Ethereum.

Although there are no specific technical solutions for handling private tokens, they provide a way to send them directly to exchanges or purchase goods from third parties. If an institution wants to enter the market, it must first obtain approval and then go online on the trading platform without relying on intermediaries such as banks to obtain funds. So these products are also developed based on the Ethereum blockchain platform.

In addition to this, there are many other applications such as DeFi (Decentralized Finance), but they also have their own unique advantages. For example, when you pay someone $100, you can also earn $500,000 in interest on it. Also, if you are willing to invest in cryptocurrencies and do not trust your business partners, you can lend them money to make money. That’s why many people are looking for various private blockchains. What are the characteristics of public blockchains? First of all, it is necessary to understand that public blockchains are actually a general technical concept that can regulate the identity, financial status, and operational methods of individuals or companies, and can be easily used standards. Secondly, everyone has a specific network, and each user has their own IP address, which allows them to freely switch internet services in different places. Finally,

Construction of public blockchain infrastructure includes

Public blockchain infrastructure includes: distributed ledgers and smart contract platforms, decentralized computing networks, scalable consensus protocols, and applications for storing data.

In addition, the information disclosed in the fourth batch of domestic blockchain information service filing lists released by the National Internet Information Office covers areas such as government cloud, industrial big data, Internet of Things, and artificial intelligence. According to China’s “Development Plan for the Communication Industry of the People’s Republic of China,” 27 provinces and cities in the country have achieved phased results in promoting the application of blockchain technology. China has the largest proportion (including national conditions).

At the government level, the focus of the construction of public blockchain infrastructure is to improve the performance, stability, and security level of public chains. This mainly includes the construction of a collaborative mechanism between public resource developers and operators, access management and maintenance of nodes, and the widespread use of blockchain technology. (Economic Daily) [Original Article Link]