WEB 3.0 is the next Internet era. We missed the PC Internet era and passed by the mobile Internet. Now is the best time to lay out WEB 3.0.
So, how do ordinary people enter the market early and get the first pot of gold?
After all, WEB 3.0 has entry barriers. Today we will talk about the basics of the basics, including basic knowledge about public chains, blockchains, and Bitcoin. This is the first step for us to swim in WEB 3.0.
What ispublic chain and private chain?
Public blockchains are Public Blockchains (Public Blockchains), which refer to blockchains that are not controlled by any person or institution, and can be read and used by anyone, and anyone can initiate actions on it. Transactions and confirmation of transactions, this is what we often hear about decentralization. Looking back on the history of the entire blockchain, the earliest public chain is the Bitcoin blockchain.
The public chain can also be simply understood as the blockchain infrastructure that everyone can use.
Opposite to the public chain are two chains, Consortium chain and private chain. As you can tell from their names, they are not available to anyone. Both consortium chains and private chains have certain thresholds for users, and they require authorization to access the network. The authorization here weakens the concept of decentralization. However, the use of consortium chains and private chains within and between institutions has great role and prospects.
The stages of public chain development
Phase 1.0: Public chains represented by Bitcoin
The public ledger that supports the circulation of Bitcoin is what we call the “blockchain“. “Blockchain” can be understood as a public ledger.
You can remember it like this, “block” is the accounting of the public ledger, packaged into blocks and uploaded to the chain. “Chain”These blocks are uploaded in chronological order and can be understood as atime chain.
Phase 2.0: The smart contract public chain represented by Ethereum can execute code in addition to transferring money, and can be connected to a large number of decentralized applications. The concept of smart contracts is proposed, and the application scenarios of blockchain expand from transfers to more commercial and non-commercial applications (issuance of NFT, financial system). It can be understood as the Android or iOS system on a mobile phone, and the App built on it becomes a decentralized application on Ethereum, that is, a DApp.
Phase 3.0: The interconnection between chains is also the future development trend.
Public chains are divided into two camps
Public chains are divided into two camps, one is compatible with Ethereum and the other is not compatible with Ethereum.
Compatible with Ethereum: Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, Arbitrum, Celo
Not compatible with Ethereum: Terra, Klaytn, Solana, Cardano, Polkadot/Cosmos
