What does blockchain private chain mean (blockchain private chain industry chain)
What does blockchain private chain mean? What does blockchain private chain me
What does blockchain private chain mean? What does blockchain private chain mean?
Literally, it refers to “public chains” and “consortium chains.” Because there is no centralized institution involved in blockchain technology, blockchain private chain is more like a decentralized network system, rather than a single technical team. This system can be understood as a new database structure, novel consensus algorithm, and new incentive mechanism. There is a strong complementarity among these three. If Bitcoin is considered as a cryptocurrency or digital gold, then the encrypted currency in the blockchain is also a cryptocurrency, and its issuer can also create some tokens by themselves (such as ETH).
Private chain industry chain of blockchain
The Chain Tower Think Tank released a research report on the private chain industry chain of blockchain, titled “Analysis of Asset On-chain Based on the Public Chain.” It pointed out that in the traditional business field, it is difficult for companies and individuals to transfer their data, transactions, and activities to open and verifiable data platforms. Private chains can realize various functional components such as distributed ledger technology (DLT) and decentralized applications (DApps), and provide corresponding solutions. At the same time, the project realizes the interconnection between cross-chain communication protocols through self-developed technology.
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