What is a public chain fork (What are the benefits of a public chain)?

08/14/2023 13:06 • Metaverse & Beyond • 52 views

What is a public chain fork? Blockchain fork is actually a hard split of a public chain.

In the Ethereum network, the update of smart contract code languages (such as C++ and Rust) has led to modifications in consensus protocols and transaction execution logic. However, similar situations have also occurred in the Bitcoin network — Bitcoin miners package the existing blocks into new blocks and broadcast them back to the main network, then transfer from the old chain to the new chain to achieve two-way value exchange. This is called a “public chain fork” because both tokens have the same functionality. Therefore, when a public chain system encounters a problem that cannot be upgraded before being resolved, a hacker attack may occur. To avoid the occurrence of this phenomenon, different technical solutions need to be adopted to fix these problems. What is a public chain fork? Blockchain branching is a new type of distributed ledger technology designed to improve the performance or security of existing systems by enabling faster scaling and improved efficiency of the blockchain. It uses a unique mechanism that allows developers to integrate with existing software.

For example, the EOS team believes that the blockchain can replace traditional database structures without worrying about their data storage capacities. Regarding this, the founder of EOS, BM, said, “We are studying how to use blockchain as a decentralized data layer.”

If the EOS ecosystem wants to become a decentralized application (DApp) independent of the current platform, it must support the interoperability and governance functions of the blockchain, including all necessary audits, and ensure that they are secure and accessible.

At the same time, DApp projects can also choose to accept proposals for blockchain forks. This means that they can create their own branches by changing their architecture, thus gaining more resources to establish more business activities. In this way, DApp developers can easily migrate their development content to other blockchains based on the platform.

In addition, the “community” is also an example of blockchain branching, which attempts to integrate every node in the blockchain, including exchanges, wallets, and even DApps, in various ways.

So why do public chains need to form shards?

Simply put, sharding is actually a separate technical solution that allows communication between two underlying layers, but may not eventually produce anything. Instead, they make the interaction between the two underlying blockchains more efficient, cost-effective, and easier.

However, in the blockchain field, there is another way for blockchains to split: blockchain forks.

Blockchain fork, also known as blockchain mixers.

Blockchain mixers refer to a group of modules that are included in the blockchain protocol. This framework defines a whole. One part of it is operated by a specific application, which is responsible for managing the entire network.

For most blockchains, blockchain forks are not necessarily the same. For example, the Bitcoin blockchain has been in existence for many years, but now it has developed to a very mature position.

What are the benefits of public chains?

According to cryptovest news, blockchain technology has been widely used worldwide. But currently, there is a claim in the market that a public chain is a distributed ledger architecture based on Ethereum, which can realize applications and protocols that anyone can use to run their own systems without trust, thus ensuring the security of the entire network. What is a public chain? What is it? We all know that Bitcoin is an open-source project, but in reality, only one block can be confirmed, and no other transactions can be completed on it. Bitcoin has a private ledger, which means that everyone has their own data and maintains it. In addition, there is also a technology called smart contract platform or similar, which are created by different developers and jointly maintained. So, public chains have many benefits.

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What is a public chain fork (What are the benefits of a public chain)?

What are the benefits of public chains?

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