What is a main network public chain (how long does it take to develop a main network public chain)
What is the main network public chain and what is the main network public chain? What is the main network public chain? It refers to a platform that is managed and applied through blockchain technology The so-called “main network online” refers to a country’s ability to directly or indirectly issue its own digital currency or public products based on blockchain technology under existing rules. This approach, known as the “Internet Public Chain”, is a distributed network architecture that can be used by any organization or government agency, consisting of various nodes to operate a decentralized global computer system We know that Bitcoin was a very early country, but it has now developed into the world’s largest smart contract platform. However, due to the slow transaction speed and high cost of Bitcoin, it has become one of the least secure options among most mainstream crypto assets
Ethereum is an early project. Although it has powerful functions, it cannot meet the needs of the public, so it must have sufficient security measures to ensure its security. And this is the main reason why many people believe that the main network public chain will solve these problems. Therefore, today there is an increasing amount of research on the main network public chain, and it has become increasingly deeply rooted in people’s hearts: why is such a system structure needed? Because they not only need to undergo time verification, but also must obtain a certain level of recognition in order to achieve this goal. So what is the main network public chain and how does it operate? What makes the main network public chain so valuable Simply put, the main network is the connectivity protocol between all parties involved, allowing different types of people to send messages to each other and be able to transmit information to others and their devices. For example, when a company wishes to purchase data from a third-party server, it does not need to provide this service to the third party; If users want to access this data from outside, they must download the corresponding code before continuing to interact with it; Even when you want to store some data to another cloud, your machine may lose your data, causing the operation to malfunction In order to simplify the specific process of understanding the main network public chain, everyone should first understand the basic concepts and knowledge:
1. What is the main network public chain? Simply put, it means connecting a group of separate networks with the same working principle together to form a unified main network launch plan. Specifically, a new mechanism can link different nodes together to generate communication relationships, while also promoting consensus algorithms throughout the system. For example, Ethereum uses PoW mining to support thousands of Transaction processing per second, while in the traditional PoS consensus mode, it relies on computing power competition to reach an agreement, ultimately achieving the goal of more than one million TPSs Under what circumstances are payments made through the main network public chain? In general, the main network public chain is generated in the form of block packaging.
How long does it take to develop the main network public chain
According to Coindesk, engineers of the Ethereum Foundation have completed the development of the main network launch of the blockchain main network. However, for how long after the main network goes online, these chains will need to update their code to function properly. Therefore, they usually need to spend several months solving some key issues, but this does not mean they must migrate to the new platform to continue development, as there are many testing and optimizations currently underway, and most of the testing is completed at some point in 2018 or 2019.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/21974/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Gitcoin and Index Coop Community Launch Gitcoin Stacked ETH Index
It is reported that Gitcoin and the cryptocurrency index agreement Index Coop community recently voted to adopt a proposal to jointly launch the Gitcoin Stacke…
-
#7:00-12:00: Understanding zkBridge and Its Impact on Binance and Gemeis
7: 00-12:00 Keywords: zkBridge, Sentiment, Binance, Gemeis
Summary of important updates during the afternoon on April 5th
The rapid development of blockchain technology has introdu -
#Ethereum Gas Costs: All You Need To Know
According to reports, data shows that the median cost of Ethereum GAS has just reached 47.077GWEI in the past hour (7-day moving average), reaching a 10 month high.
Ethereum GAS fe -
Hong Kong SAR Government Continues to Promote Financial Technology Infrastructure Projects
It is reported that Chen Maobo, the Secretary for Finance of the Hong Kong SAR Government, said in his speech on the 2023-2024 fiscal budget of the SAR Governm…
-
Klaytn’s Orakl Network: A Decentralized Oracle For The Klaytn Ecosystem
On April 4, it was reported that the Korean blockchain platform Klaytn planned to launch the decentralized oracle machine network Orakl Network designed specifically for Klaytn, wh
-
Cryptocurrency as a smoke alarm for the failing financial system
On March 17th, Arthur Hayes, the founder of BitMEX, wrote that the Federal Reserve’s Bank Term Financing Plan (BTFP) had undertaken quantitative easing of $4.4 trillion in another way, even exceeding the $4.189 trillion printed in response to the COVID crisis. Although the BTFP plan is mandated to last only one year, it will almost certainly be extended preventively. The Federal Reserve is expected to either start cutting interest rates at its upcoming March meeting or a severe recession in a few months will force it to turn. Since the outbreak of the banking crisis, the yield on two-year Treasury bills has fallen by more than 100 basis points. The market is crying out for deflation supported by the banking system, and the Federal Reserve will eventually listen to the market. In this banking crisis, cryptocurrency has once again proven to be a stinky, wasteful, smoke alarm for the legal tender driven Western financial system. Founder of BitMEX: BTFP plans…
-
Data: Bitcoin has achieved an average volatility of over 60% in 30 days, surpassing Ethereum for the first time in a year
According to reports, Kaiko data shows that Bitcoin\’s 30-day average realized volatility exceeds 60%, surpassing Ethereum for the first time in a year. Previously, Ethereum\’s 30-da
-
AIP-226: ApeCoinIRL – Decentralized Event Network Proposal
It is reported that the ApeCoin community has launched the proposal AIP-226, which mentions that it will create a decentralized event network, ApeCoinIRL, to attract more Web3 and
-
PeopleDAO and WTF Academy Collaborate to Test Soulbound Reputation NFT Protocol
On February 21, PeopleDAO cooperated with WTF Academy, the Web3 open source learning community, to try out the Reputation NFT protocol Soulbound on the Goerli …
-
Summary of important updates during the afternoon on April 8th
7: 00-12:00 Keywords: Ava Labs, Magic Eden, Sui Foundation, Moonbirds
Summary of important updates during the afternoon on April 8th
I. Introduction- Brief explanation of the topic -
Korean Currency Market Under Regulatory Scrutiny
On March 2, the Financial Intelligence Unit (FIU) under the Korea Financial Services Commission (KFSC) will start on-site inspection of the GDAC of the country…
-
The Importance of Strong Risk Management in Banking and Fintech: Insights from CFPB Director Rohit Chopra
According to reports, Rohit Chopra, director of the United States Consumer Financial Protection Agency (CFPB), said that the recent failures of medium-sized U.S. banks showed that
-
The Federal Reserve of Australia’s Skepticism on CBDC for Retail Payments
According to reports, the chairman of the Federal Reserve of Australia, Lowe, said he was skeptical about the use of the central bank\’s digital currency for re…
-
Euler Finance Attacked, Millions worth of Ethereum Transferred
According to reports, on March 16, 2023, Euler Finance attackers transferred 2601 ETHs and 100 ETHs to 0xc66dFA84BC1B93df194bD964a41282da65D73c9a and 0x2Af24E5575045a582d9C53FebD48724473E67407, respectively, according to the Beosin EagleEye security risk monitoring, early warning, and blocking platform monitoring of Beosin, a blockchain security audit company. Euler Finance attackers transferred approximately $4.46 million in funds Analysis based on this information:As reported on March 16, 2023, Euler Finance suffered an attack that resulted in the transfer of millions of dollars worth of Ethereum (ETH). According to the Beosin EagleEye security risk monitoring, early warning, and blocking platform, the attackers transferred 2601 ETHs and 100 ETHs to 0xc66dFA84BC1B93df194bD964a41282da65D73c9a and 0x2Af24E5575045a582d9C53FebD48724473E67407, respectively. Euler Finance is a decentralized finance (DeFi) platform that operates on the Ethereum blockchain. It aims to provide a range of financial services such as trading, lending, and borrowing, without the need for intermediaries. However, the platform’s smart contracts were vulnerable, allowing the attackers to exploit them and steal a significant amount of Ethereum. Beosin…
-
Cryptocurrency and Securities Laws Are Complementary
According to reports, Gary Gensler, chairman of the Securities and Exchange Commission of the United States, said that cryptocurrency and securities laws are c…
-
The Impact of the Silicon Valley Bank Collapse on NFT Trading Volume
On March 17th, according to a report by DappRadar on March 16th, before the collapse of the Silicon Valley bank on March 10th, NFT trading volume hovered between $68 million and $74 million, and then fell to $36 million on March 12th. From March 9 to March 11, the daily sales volume of NFT decreased by 27.9%. DappRadar: The collapse of banks in Silicon Valley has led to a significant impact on NFT trading volume Analysis based on this information:The NFT market has been rapidly growing in recent months, attracting investors and art-lovers alike. However, a recent report by DappRadar suggests that the Silicon Valley bank collapse has had a significant impact on NFT trading volume. Before the collapse on March 10th, NFT trading volume was hovering between $68 million and $74 million. However, after the collapse, the volume fell to $36 million on March 12th. This indicates that the collapse had a sudden and dramatic effect on the market….