Public Blockchain explained in 3 minutes
Wang is a real estate salesperson, and each house he sold needs to be registered on the Internet by his Manager Li. Amy, the girlfriend of Manager Li is also a real estate salesperson. So Manager Li frequently took Wang’s sales performance in selling house as the sales performance of Amy. Wang explained the problem to the company, but the company needed Wang to prove that “the house was sold by Wang, but not Amy.” That makes Wang so frustrated. Because no one except Manager Li in the company can prove that he sold the house. At this time, the company sets up a WeChat group. Everyone including Wang and Amy who sells a house can send a sales message in the WeChat group in a timely manner, as well as look up previous sales records in the group.
This is the decentralized blockchain technology.
Likewise, public blockchain, as a type of blockchain, is like an open WeChat group that records a lot of information. The participators and writers of the WeChat group can be not only you, but also everyone you meet in your life. You can compile other people’s records as a writer. This open WeChat group is now commonly referred to as the public blockchain of the decentralized blockchain technology.
Every group is open and transparent. And everyone can compile the information in the group, download, view and record every record freely; but there is no way to edit the previous records that have been sent successfully. By this way, the information can not be tampered or bribed, and the consistency of data can also be ensured. And this method helps to reduce the risk and improve the security, as well as greatly improve the efficiency of work and reduce operating costs.
Anyone in the world can access to the system at any time to read data, send blockchains that can confirm transactions and compete for bookkeeping.
In this open and transparent group, group owners (i.e. developers) do not have the authority to interfere with anyone in the group, so the decentralization is achieved completely. And the requirements for joining a group are also very low. As long as there is a network, you can participated in the public blockchain, and do the following things such as choosing to hide or disclose your true identity, ensuring your own safety through publicity, and checking all the records.
We know that it’s easy to participate in “the group chat”, but about setting up “the group chat”?
Although many people have said that blockchain is a technology that can change the world, the power that can change the world by using a lever can not to be underestimated. Setting up a group chat (that is, developing a public blockchain) involves a lot of development work: such as building a test network, adjusting consensus algorithms, optimizing the development of node-side software, UI and wallet development that need to be solved one by one. Only for the design of data structure, great efforts are needed for the constant refinement and iteration of the structure. The biggest difficulty in developing a public blockchain lies in how to support enterprise application in technology. It not only needs the application cases and subsequent experiments on distributed database, but also a large number of tests to find out what critical points are easy to be forked, how much pressure can produce congestion and the simulation of the cost attack and defense. That sounds complicated.
The development of the public blockchain technology requires not only a few of professional technicians, but also a lot of basic work, data cases and experimental verification, so besides the competent technological strength, more business accumulation and time validation are much needed.
So far, the competent “group chat “providers, include Ethereum, Hyperledger, NEO, Qtum, Ruff Chain, etc., all of them have relatively mature and widely recognized public blockchain providing capabilities.
Among them, Ruff Chain claims to be a dominant power of the public blockchain system in the filed of the Internet of Things, because it has achieved the goal from building the underlying IOT operating system to the scene landing of the business end in the IOT. As a strong promoter and reform pioneer of the block chain in the field of IOT, Ruff Chain has been focusing on the implementation of the public blockchain in the IOT industry.
Ruff Chain combines the framework of IOT with the framework of blockchain, and extends the point-to-point network consensus mechanism in the virtual network world to the offline. That helps the implementation of the blockchain technology in the IOT world, at the same time promotes the upgrading of the industrial chain of traditional industry. Its real significance includes eliminating the defects of the traditional transactions such as being tampered or bribed; solving the problems of high costs of the central clearing and the difficulty of high technical pressure; greatly improving the security, reducing the operation cost, enhancing the work efficiency, and creating the new industry value greatly.
In the future world of the Internet of Things, the decentralization will be realized truly, and the real right transactions that are no longer be dependent on third-party platforms will also be realized completely. And all of these may be done by public blockchains such as Ruff Chain.
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