Learn more about the top ten public chain coins in one article?

The cryptocurrency field is decentralized. There is no single manager. It is an open network. Public chain coins also have the characteristics of decentralization and openness. The most important point is that it is decentralized. Due to their liberalization and openness, public chain coins are often more difficult to be censored or restricted, which means that public chain coins can circumvent the restrictions of the traditional financial system.

What are the top ten public chain coins?

According to current data records, the top ten public chain currencies include BTC, ETH, SOL, ADA, TRX, AVAX, MATIC, DOT, ATOM and ETC. The following is a detailed introduction of the currencies:

1. BTC

The concept of Bitcoin (BitCoin) was originally proposed by Satoshi Nakamoto in 2008. The open source software designed and released based on Satoshi Nakamoto’s ideas and the P2P network built on it. Bitcoin is a P2P form of digital currency. Peer-to-peer transmission means a decentralized payment system.

Unlike most currencies, Bitcoin does not rely on the issuance of a specific monetary institution. It is generated through a large number of calculations based on a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire p2p network to confirm and All transactions are recorded, and cryptographic design is used to ensure the security of all aspects of currency circulation.

2. ETH

Ethereum (English: Ethereum) is an open source public blockchain platform with smart contract functions. It provides a decentralized virtual machine (called the Ethereum Virtual Machine) through its dedicated cryptocurrency Ether (also known as "Ether") to process peer-to-peer contracts.

The concept of Ethereum was first proposed by programmer Vitalik Buterin between 2013 and 2014 after being inspired by Bitcoin. It means "the next generation of cryptocurrency and decentralized application platform". In 2014 Development began in 2016 through ICO crowdfunding.

As of June 2018, Ethereum is the second-largest cryptocurrency by market value. Ethereum is also known as the "second-generation blockchain platform", second only to Bitcoin.

3. SOL

SOL is the native token of the Solana blockchain. Solana uses a delegated proof-of-stake consensus algorithm to incentivize token holders to validate transactions. As part of Solana's security design, all fees will be paid in SOL and burned, reducing the total supply. This deflationary SOL mechanism incentivizes more token holders to participate, thereby improving network security.

4. ADA

The cryptocurrency ADA is the currency of the Cardano protocol, which can be used to send and receive digital funds. This digital cash represents the future of money and enables fast direct transfers secured through cryptography.

Cardano is not just a cryptocurrency, it is a technology platform that will be able to run the financial applications currently used every day by individuals, organizations and governments around the world. The platform is built in layers, which gives the system flexibility for easier maintenance and allows upgrades via soft forks. After the settlement layer that will run Ada is completed, a separate computing layer will be established to handle smart contracts. These digital legal agreements will provide support for future commerce and business. Cardano will also run decentralized applications, or dapps services, which are not controlled by any one party and run on the blockchain.

5. TRX

TRON was founded by Mr. Justin Sun in September 2017. Since the mainnet was launched in May 2018, it has achieved many outstanding achievements. In July 2018, the TRON ecosystem completed the integration with BitTorrent, a pioneer company providing decentralized Web 3.0 services with more than 100 million monthly active users. In recent years, the TRON network has performed brilliantly. The Tron network achieved complete decentralization in December 2021 and is now a decentralized autonomous organization (DAO) governed by the community.

In May 2022, TRON announced the launch of the decentralized over-collateralized stablecoin USDD, which is supported by the Tron Joint Reserve of the industry’s cryptocurrency central bank, marking that TRON has officially entered the era of decentralized stablecoins. In October 2022, Dominica announced TRON as its officially designated national blockchain infrastructure. TRON has thus become a large public chain that has reached cooperation with sovereign countries to develop blockchain infrastructure.

TRON is authorized to issue Dominica fan tokens - Dominica Coin (DMC), in order to enhance the global visibility of Dominica's natural heritage and tourist attractions. At the same time, TRON’s seven major tokens were granted the status of Dominica’s legal digital currency and legal currency.

6, AVAX

The Avalanche (AVAX) project, formerly known as Ava/AVA, is an open source platform for launching highly decentralized applications, new financial primitives and new Interoperable blockchains. Using a breakthrough consensus protocol architecture, a smart contract platform that can confirm transactions within one second supports the entire content of the Ethereum development toolkit, making millions of complete block producers possible.

The AVA blockchain platform developed by Avalanche is a digital payment and computing platform based on the revolutionary consensus algorithm - Avalanche. This consensus enables the distributed ledger to achieve a high degree of decentralization, high concurrency processing and rapid confirmation of transactions, while also achieving historical record deletion and on-chain governance. The core of the AVA blockchain platform is a set of unified and interoperable infrastructure that enables anyone to build a blockchain network or issue assets on the blockchain according to their own needs in AVA's ecosystem.

7, MATIC

Matic Network is now renamed Polygon. Polygon is a protocol and framework for building and connecting Ethereum-compatible blockchain networks. Aggregate scalable solutions on Ethereum to support the multi-chain Ethereum ecosystem.

Matic Network is a second-layer scalability platform that enables fast, simple and secure off-chain transactions, not only payment transactions, but also generalized off-chain smart contracts. Matic Network is a significant contributor to the Ethereum ecosystem, with outstanding contributions to the implementation of Plasma MVP (Minimal Running Plasma), the WalletConnect protocol, and the Ethereum event reminder engine - Dagger. Matic tokens are used for stake staking and participating in the proof consensus mechanism of the side chain network.

8. DOT

The Polkadot community voted to pass the 100-fold split of DOT. This is DOT that has been split 100 times.

Polkadot will realize a completely decentralized Internet where users have full control. It envisions an Internet where each person’s identity and data is their own – without influence from any central authority.

Polkadot aims to connect private chains, consortium chains, public chains, open networks and oracles as well as future technologies that have not yet been created. Polkadot facilitates the Internet, and independent blockchains can exchange information and transactions in a trustless manner through Polkadot's relay chain.

9, ATOM

Cosmos is a parallel network, and each chain is supported by consensus such as Tendermint. In the cosmos ecosystem, various spaces can communicate, trade, and interoperate with each other. The vision of Cosmos is to break down the barriers between blockchains, create a blockchain Internet, and become the preferred platform for various practical use scenarios.

COSMOS is built on Tendermint’s BPOS+PBFT consensus mechanism. This mechanism involves validators and proposers. PBFT is used to confirm the validity of the block. The number of mortgage tokens determines the power of the validator in the weighting process of voting. BPOS is used to allocate the power of the validator. The proposer of each round will be selected from the validator order list according to the proportion of their votes. Tendermint uses an optimal Byzantine fault-tolerant algorithm selected by a supermajority of two-thirds of the votes.

10, ETC

Ethereum Classic is a decentralized platform for running smart contracts: applications that can run completely programmatically without downtime, censorship or third-party interference any possibility. Ethereum Classic consists of a cryptocurrency (ETC), a blockchain ledger, and an ecosystem of applications and services that run on top of it.

In short, Ethereum Classic provides a way to manage digital assets without intermediaries such as banks and other financial institutions. ETC allows for the writing, deployment and execution of uncensorable smart contracts; it enables truly unstoppable programmable money. Ethereum Classic is a continuation of the original unforked Ethereum (ETH) chain and exists to preserve the principle of "code is law".

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