Analysis of Genesis public chain

Public chain is also called “ The chain of public ”, Bitcoin is the first common chain in the world , The difference between public and private is whether the nodes in the chain are controllable .

Public chain means that anyone in the world can access the system at any time to read data 、 Send confirmatory transactions 、 Blockchain for competitive bookkeeping . The public chain is generally considered to be “ Completely decentralized ” Of , Because no individual or institution can control or tamper with the reading and writing of the data .

Role of public chain

The public chain can protect the rights and interests of users from the influence of program developers . In the public chain, the developer of the program has no right to interfere with the user , Therefore, the public chain can protect the rights and interests of users using the program . Besides , Highly decentralized distributed data storage is also one of the biggest characteristics of the public chain , Trading data is open and transparent 、 Data can't be tampered with , So that the public chain can effectively protect the data security of users ;

Public chain can produce network effect . There is an inherent need for interconnection in an information product , Because the purpose of people producing and using them is to better collect and exchange information . With the expansion of the network , Users can get more value from it , Needs are met more , The public chain is open , Therefore, it has the opportunity to be applied by many external users and produce a certain degree of network effect ;

The public chain can be applied to actual business scenarios . In addition to financial applications , Any trust in 、 Application scenarios with high security and persistence requirements , Such as asset registration 、 vote 、 Management and Internet of things, etc 3.0 Application of the times , Will be affected by the public chain on a large scale .

Genesis Public chain

The public chain is going through bitcoin 、 After the development of Ethereum , The transition to 3.0 Time ,Genesis Public chain 3.0 A typical representative of stage , It is also the world's first public chain integrating commercial and financial fields .

 

Genesis The original consumption contribution of the public chain proves that （Proof of Consumption) The mechanism greatly guarantees the fairness of the public chain network , The consensus mechanism and economic incentive for users to mine by taking the contribution made by participating in the smart contract behavior on the chain as the assessment base , The consumption contribution is converted into computing power to participate in the competition for bookkeeping rights, so as to obtain block rewards . thus , Every participant in the public chain ecology can get Genesis Block rewards of the public chain .

Besides ,Genesis The public chain has a more inclusive idea , It puts all blockchains known to be issued , Including bitcoin , The etheric fang ,EOS, Wave field, etc , All integrated into the ecology . No matter which application scenario in the future , It can be in Genesis Integration in public chain ecology ！