In practical applications, the block chain type required according to the different selection of the trusted environment.
Traditional institutions cannot suddenly change between a complete public chain, and the league chain is an important step in achieving future encryption worlds. Compared to the centralized database, the biggest benefit of the league chain is encrypted audit and disclosure identity information. No one can tamper with the data, even if an error occurs, it can track the wrong source. Compared to the public chain, the private chain is faster, the cost is lower, and respects the company’s privacy. The league chain or in traditional institutions first, and the block chain is promoted to the management and application of the enterprise.
What is a public chain?
Public chain (public block chain), as the name suggests, anyone can participate in the use and maintenance, such as the Bipedcoin block chain, information is completely disclosed; any individual or group in the world can send transactions, and transaction can get the area Effective confirmation of the block chain can participate in the process of consensus.
Publicblockchain is the first block chain that appears in people’s sight, and is also the most wide range of block chains. It is completely decentralized, anyone can read and send transactions, and transactions can be valid on the block chain, and anyone can participate in the consensus process. Each node of the public chain can freely add and exit the network, and the topology relationship between the nodes is flat.
First, the public chain protects the impact of user equity from procedures. Developers in the public chain have no rights interference users, so user equity is easier to get protected.
Second, the openness of public chain is strong. In the public chain, any user can establish its own application to produce a certain degree of network effect. Anyone who meets certain technical conditions can be accessed, that is, as long as there is a machine that can be networked to meet the conditions of access.
Third, the data is disclosed transparent. All data on the public chain is the default, where each participant can see all the account balances and trading activities in the system, that is, the so-called publicly transparent distributed “General” system. However, the anonymity of the block chain allows participants to hide the true identity in the real world, and find a balance between public information and personal privacy protection.
Typical applications for the public chain include bitcoin, EtOAc.
What is a private chain?
Private chain / private block chain is a block chain system that is open to individual or organized, that is, the system controls the write permission and read permissions of the system by an organization. Specifically, each node write authority within the system will determine allocation by the organization, and how much information and data is determined by the organization based on the specific situation. In addition, the progress of the query transaction is limited, and the private chain still has a general architecture that runs in multiple nodes.
Private chain, managed by centralized managers, only the internal few people can use, the information is not open; the private chain has the following features:
First, the transaction speed of the private chain is very fast. A private chain of transactions can be fast than any other block chain, or even near the routine database of a block chain. This is because even if a small number of nodes have high trust, do not need each node to verify a transaction.
Second, private chains have better privacy protection. Participants of the transaction want to openly get data on the private chain of the block chain, because the permissions of their read data are limited.
Third, private chains have a better node connection. The connection of the node in the private chain is very convenient. If there is a failure to intervene in manual way, the transaction time can be shortened using a consensus algorithm.
Fourth, the transaction cost of the private chain is more cheap. For transactions running on the private chain, the confirmation of the process does not require approval of all network nodes, only a few high-strength nodes that have high recognition, which will facilitate the reduction in transaction costs.
The application of the private chain is at an attempt phase, which is suitable for internal data management and auditing of specific agencies. The Linux Foundation project is a typical representative.
What is a league chain?
ConsortiumBlockchain is a system form between the public chain and the private chain, which is often controlled by multiple central controls. Working with a number of organizations to maintain a block chain, the use of the block chain must be a restricted access with permissions, and the relevant information will be protected, such as supply chain mechanism or bank alliance. Some experts pointed out that the essence of the league chain is a distributed managed accounting system, and the system is controlled by the organization’s “authoritative” node control, and these nodes are managed and operated throughout the system according to the consensus mechanism. The league chain can be seen as “partial decentralization”, the public can consult and transaction, but verify that the transaction or distribution of intelligent contracts must be licensed.
The typical feature of the league chain is that each node usually has a corresponding entity mechanism, and only the approval of the alliance can be added or exit the system. All interest-related institutional organizations work closely in the block chain and jointly maintain the development of system healthy and stable. Founded in September 2015, the R3 block chain is the most typical league chain. There are already dozens of international banks and financial institutions to join, members all over the world. These members include New York Merlong Bank, Citi Group, German Commercial Bank, Deutsche Bank, HSBC, Japan Mitsubishi UFJ Financial Group, Australian National Bank, Royal Bank of Canada, France Industrial Bank, Toronto, China, China Ping An, Rui Sibei Bank, Nordic Bank, Italy Joint Credit Bank, Paris Bank, Frantees Bank, Netherlands International Group, Macquarium Bank, Canadian Empire Commercial Bank and other financial institutions.
For the classification of the block chain (public chain, private chain and alliance chain), some scholars divide them from the perspective of permission control, and define the license block chain and the license block chain. No matter which classification purpose is to better analyze the maximum role of the zone chain technology in order to better analyze the different application scenarios. Therefore, although there is still some debate on the classification of the block chain, it does not affect the development of the entire industry.
The public chain is anyone who can participate in the reading, transaction, the block chain, completely detrition, the account information is disclosed, and is not subject to any mechanism. The public chain generally needs to dig into a consensus, so it brings shortcomings of high transaction delay, high cost and low efficiency. The typical representative of the public chain has bitcoin, EtOAc, EOS, etc.
The private chain refers to the block chain items that the account will be mastered by a separate individual or institution. It features the characteristics of accounting, high efficiency, no accounting cost, privacy. Use the scene as an audit within the organization.
The league chain means that the participating nodes have determined in advance, only open all or part of the members within the alliance. Its characteristics are between the public chain and the private chain, the book is semi-disclosed, and the transaction confirmation is faster, the bill is low, and the data has certain privacy. The typical representative is a banking chain called R3.
Whether it is a public chain, a private chain or a league chain, belongs to the block chain, just a different chain of different application scenarios.
As the needs of application scenarios are more complex, the block chain technology becomes more complicated. Whether it is a public chain, private chain is still absolute and unity, often need to choose the right block chain according to different scenes. Types of.
The development and evolution of the block chains reflect the history of economic and financial history, centralization and detrimentary mutual confrontation and repertrans. The application of the block chain reality depends on the needs of the reality. As the founder of the Taiquian said “there is only one regional chain to live in the idea is completely misleading.”