Understand in one article what are blockchain consortium chains and public chains?

The essence of blockchain is to realize a database whose historical records cannot be tampered with through distributed maintenance. There is a problem of database maintenance cost. In order for others to help you maintain the database, you need certain incentives, and public chains The incentives are also different from those of the alliance chain. Many investors still don’t know what blockchain alliance chain and public chain are? They want to know what's the difference between the two? Let me talk about it below.

What are blockchain alliance chains and public chains?

Each node on the public chain can freely join and exit the network, and participate in the reading and writing of data on the chain. When reading and writing, they are interconnected in a flat topology. There is no centralized server node in the network. . Bitcoin and Ethereum, which everyone is familiar with, are both public chains. The advantage of the public chain is that there are no restrictions and you can participate freely.

Each node of the alliance chain usually has a corresponding entity organization, and can only join and exit the network after being authorized. Various institutions and organizations form an alliance of stakeholders to jointly maintain the healthy operation of the blockchain.

The write permissions of each node in the private chain are under internal control, while the read permissions can be selectively opened to the outside world based on demand. The proprietary chain still has a general structure for multi-node operation of the blockchain and is suitable for internal data management and auditing of specific institutions.

Among them, the R3CEV Corda platform and the Hyperledger project are private chain projects. In scenarios with higher requirements for transaction efficiency, privacy protection and regulatory control, the application of private chains is the main direction.

What is the difference between blockchain alliance chain and public chain?

So what is the relationship between the alliance chain and the public chain? Is the alliance chain a retrogression of the public chain, or is it a false demand? At the Golden Chain Alliance roundtable meeting, Zhang Yifeng expressed his views, saying that the current more realistic way to commercialize blockchain on a large scale is the alliance chain, and there is no other option. He said: "Blockchain technology Contributions all come from the public chain. You can use distributed ledgers, alliance chains, and permissioned chains to transform some existing traditional bank systems and improve some marginal benefits, but it is not a brand-new business. . It is impossible to create new businesses on consortium chains and distributed ledgers.

Whether it is a public chain, a consortium chain, etc., realistically speaking, the current public chain technology is far from being implemented. If there is a distance, there is only one way we can choose, which is commonly known as the alliance chain. If we look at accounting nodes, today’s form similar to the alliance chain has converged extensive accounting into a small number of nodes.” "The public chain has its advantages and will have very high value in the future, but at this stage, the public chain faces a lot of technical problems, which requires us to really spend energy on the underlying technology of the public chain. I believe in the value of the public chain, just I think the public chain may need more technology than scenarios at the current stage.” Dr. Ao Meng, chief architect of Tencent Cloud Blockchain, explains the relationship between the two: “The public chain is the general ledger. The alliance chain is a bus. The alliance chain is equivalent to an information bus between enterprises, and it is an information bus that spans time and space. When enterprises need to transfer information, they can just throw the information on the bus, and it is stable and cannot be tampered with. It is very developed, but there is no way to connect information between the two companies. The process of confirming that the information is from the official and not tampered requires a lot of costs. How to do it in the traditional way? The strong company requires the weak company to open an interface, and the bank requires the other party to get it. Bank loans require the development of an ERP system, which is very unfair.

Although different institutions have different alliance chains, cross-chain technology is likely to be used in the future to create interconnections and solve various current problems. "Consortium chain" constitutes the problem of many separate blockchain "isolated islands". Opening up different industries and application scenarios is actually a very important point in the real application of blockchain.

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