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NTF: public chain and alliance chain

Time : 27/03/2022 Author : nrpbxa Click : + -
        The full name of the public chain is "public chain", which refers to a blockchain that can be read by anyone, that can send transactions, that can be confirmed, and that can participate in the consensus process. It is generally considered to be decentralized. It can be understood as an open and publicly available blockchain. The fully decentralized public chain encourages participants (nodes) to compete for bookkeeping through consensus mechanism and token reward mechanism to jointly maintain the security of data on the chain. The public chain has the characteristics of open source, protecting users from the influence of developers, low access threshold, and default disclosure of all data. Anyone can also send transactions on the public chain, and can also participate in the process of forming consensus on the network at any time, that is, deciding which block can join the blockchain and recording the current network status.
 
        Private chain is a concept opposite to public chain, which refers to a blockchain network that is not open to the outside world and only used within an organization. Its creation and maintenance rights are owned by an organization, and non organization members cannot access or only have small-scale access rights. The private chain has the characteristics of fast transaction speed, good privacy protection, high information security and low transaction cost. In the process of using the private chain, registration is usually required, that is, it needs to submit identity authentication and have a set of permission management system. The value of the private chain is mainly to provide a secure, traceable, non tamperable and automatic computing platform, and also to prevent internal and external attacks on data security.
 
        Private chain is generally used within enterprises, such as bill management, accounting audit and supply chain management. Alliance chain is a blockchain composed of multiple organizations or institutions in the form of alliance. Trust and consensus mechanisms are established between alliance participants through tacit understanding or other forms. The block and link functions constructed are limited to alliance participants, and the access rights can be restricted. Alliance chain is a kind of blockchain that requires registration and license. This kind of blockchain can also be called license chain. It is usually used in multiple environments or multiple member roles, such as payment and settlement between banks and logistics between enterprises. The alliance chain can determine the degree of openness to the public according to the application scenario.
 
        Because there are few nodes participating in the consensus, the alliance chain generally does not use the mining mechanism of workload proof, but mostly uses the proof of rights or pbft, raft and other consensus algorithms. The confirmation time and transaction amount per second of the alliance chain are significantly different from those of the public chain, and the requirements for security and performance are also higher than those of the public chain.
 
        
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