Alliance chain development - what is alliance bloc
To understand what an alliance blockchain is, or, in other words, what blockchain implementations the alliance needs, let's take a look at an example. Banks want to create a blockchain to make transfers easier, faster and cheaper. Well, their needs are as follows:
1. Speed: they need the blockchain network to be close to real-time confirmation of transactions. At present, the network block time of Ethereum blockchain is 12s, and the client usually needs to wait a few minutes before confirming the transaction.
2. Permission: they want the blockchain to have permission. Permission itself has many meanings, such as permission to enter the network, permission to create blocks, permission to send specific transactions, etc.
3. Security: POW is not secure enough for private networks because it has only a certain number of participants, so it does not generate enough computing power to ensure its security. Therefore, a consensus protocol that can make the blockchain secure and unchangeable is needed.
4. Privacy: Although the network is private, privacy is needed in the network itself. There are two kinds of privacy.
Identity privacy: identity privacy makes identity untraceable. Previously, we saw that the way to obtain identity privacy is to use multiple Ethereum account addresses. However, if multiple Ethereum accounts are used, the smart contract cannot pass all the authentication because it is impossible to know whether all these accounts really belong to the same user.
Data privacy: sometimes, we want data to be visible only to specific nodes, not to all nodes in the network.
About Alliance chain development - what is alliance blockchain? That's all. If you want to know more about it, you can pay attention to the website of Huashang group, and we will continue to update more relevant information.