How to judge what is a real public chain?

The core of blockchain is decentralization, distributed encrypted ledger (technology), which is embodied in the form of currency.

Coins are divided into:

1. Tokens (tokens)

2. Private chain, side chain, cross chain, alliance chain.

These two are called Tokens internationally, and they only have blockchain elements; they are called OEM blockchains.

3. Public chain.

Internationally, it is called Coin, which can be transferred independently.

The necessary attributes of a public chain include four elements:

1. Have independent open source code

2. Has a block explorer

3. There is a key wallet

4. There are nodes: mining pools, miners, distributed block bookkeeping

The public chain uses six node bookkeeping and consensus mechanism to form blocks. These blocks are superimposed and arranged in chronological order, thus forming the same ledger that is open, transparent, traceable, queryable, non-tamperable, anonymous and secure in the world. .

This is what we call a blockchain. Only with the four elements of source code, block browser, key wallet, and node can it be a complete public chain and be the same as Bitcoin. Decentralization, security, no network shutdown, no attack.

The public chain must be able to query each transfer record of all accounts and the balance of each account through the blockchain browser. It has its own node mining machine, and the deduction must be the mining fee of the local currency.

It is not a private chain, token, platform currency, air currency, or altcoin, because currencies other than the public chain do not have their own node mining machines, and it must rely on the parent chain of its contract for bookkeeping, not local currency. Therefore, all tokens do not have an independent distributed ledger, so they cannot be decentralized at all.