How to distinguish public chain, alliance chain an
The essential difference between public chain, alliance chain and private chain is that the access mechanism is different. In other words, the openness of blockchain accounts determines whether it is a public chain, an alliance chain or a private chain. Now, let's talk about these three kinds Type of blockchain.
1. Public chain
Public chain refers to the blockchain that anyone can participate in. The public chain is the blockchain with the highest degree of decentralization, which is not controlled by institutions, and the whole account book is open and transparent to all. Anyone can query the transaction on the public chain Send transactions and participate in bookkeeping. Joining a public chain does not require authorization from anyone, and can join or leave freely. Therefore, public chain is also called non license chain.
The public chain in which everyone can participate in bookkeeping is in an unfamiliar and lack of trust competition environment. Therefore, the public chain needs to have a set of consensus mechanism to select accounting nodes, which is what we usually call "mining"
Competitive bookkeeping rights. Because of the need for mining, public chain bookkeeping has the characteristics of high delay, high cost and low efficiency.Most of the blockchain projects we have come into contact with are public chains. Well known public chain projects include bitcoin, Ethereum, EOS, etc.
2. Private chain
Contrary to the situation that the public chain's account books are open and transparent to all and can be accounted for by everyone, the private chain refers to that the bookkeeping authority of the blockchain is only in the hands of one person or organization, and the authority to participate in the bookkeeping is determined by the organization The read permission can be opened to the other party or restricted to any extent.
For example, for a company's financial budget, only the leaders of the financial department and the boss of the company may participate in the bookkeeping, and the reading authority can be selected to let only the decision-making level or the whole staff of the company know about it according to the needs of the company.
Because there are few accounting nodes in private chain and there is no "mining" competition process, private chain has the advantages of fast bookkeeping speed, no accounting cost and high privacy. Because the private chain is an internal node, bookkeeping
The environment is credible; blockchain technology can prevent single node in the organization from tampering with data, and can quickly detect errors even if they occur. Private chain is suitable for companies or organizations. Many large financial institutions tend to use private chain.
3. Alliance chain
The openness of the accounting books of the alliance chain is between the public chain and the private chain. Alliance chain refers to the blockchain managed and maintained by multiple institutions, and the nodes participating in the blockchain are selected in advance. The alliance chain is only internal to the alliance
Members can open all or part of the functions. The reading, writing and bookkeeping rules of information on the chain are set according to the consensus of the alliance.
For example, 100 universities have established a certain blockchain, and the consensus stipulates that a consensus can only be reached when more than 67 universities agree. Like private chains, nodes need to be authorized to join, so both the alliance chain and the private chain need to be licensed
It's called the license chain.
Because of the good connection between nodes and the trusted network environment, the alliance chain has the characteristics of high accounting efficiency, short consensus time, low accounting cost and privacy.
Alliance chain is mainly applicable to the trade and supervision of industry associations and large chain enterprises to their subordinate units and branches. For example, the R3 blockchain alliance, established in 2015, is an alliance chain of the banking industry, which has attracted more than 40
Major banks, including Wells Fargo, Bank of America, Bank of New York Mellon, Citibank, etc.
Just to sum up
Public chain is a blockchain that anyone can participate in reading, trading and writing. It is completely decentralized, and the account book information is open and transparent, and is not controlled by any organization. The public chain generally needs mining to reach a consensus, so it brings
High transaction delay, high cost and low efficiency. Typical representatives of public chain include bitcoin, Ethereum, EOS, etc.
Private chain refers to the blockchain project whose bookkeeping right is controlled by a single individual or institution. Its characteristics include bookkeeping centralization, high efficiency, no accounting cost and excellent privacy. The use scenario is internal audit.
Alliance chain refers to the blockchain determined by the participating nodes in advance, which only opens all or part of the functions to the internal members of the alliance. Its characteristics lie between the public chain and the private chain. The account book is semi public and the transaction confirmation speed is fast
Account cost is low, data has certain privacy. Its typical representative is a banking alliance chain named R3.Alliance chain development to find Huashang group.