Comparison of popular public chains (11-20)

11. NEAR（NEAR）

1) Introduction

NEAR is a development platform for decentralized applications (DApps). It is built on the NEAR protocol, which uses a proof-of-stake (PoS) consensus mechanism to power its developer-friendly public sharding platform. Its scalability and low cost make it very useful for developers building DApps. It is also climate neutral, meaning the platform is consciously committed to measuring, reducing and offsetting its carbon footprint through green initiatives.

The platform has many features that facilitate the development of decentralized applications. It uses various command line interface (CLI) tools, is compatible with various wallet applications, and includes interoperable modules, providing developers with a comprehensive, intuitive and extensible ecosystem.

Scalability is one of the biggest challenges facing all blockchain networks, and many platforms achieve higher scalability by reducing decentralization and using high-end hardware to increase the throughput of the network. NEAR Protocol is not one of these projects, and it can scale linearly to billions of users without compromising its decentralization.

NEAR is not a specialized, task-specific blockchain, but a general-purpose platform that allows developers to create various DApps on it. As a layer-one protocol, it competes with some of the most popular projects in the industry, including Ethereum (ETH), Cardano (ADA), and Polkadot (DOT). With its operations distributed across hundreds of thousands of nodes, NEAR functions like a "community-operated cloud."

2) Cause

The main driver of Ethereum's steady rise as the second-largest cryptocurrency is the growth and popularity of smart contract-based applications and the decentralized finance (DeFi) space. However, while delayed updates, congestion, and high fees continue to plague the Ethereum network, alternative platforms such as NEAR have emerged that attempt to address these issues.

3) Value

Sharding is an important mechanism used by NEAR, which divides data into smaller blocks for storage by sharding, which enables the network to process computations in parallel, thereby greatly improving throughput. Bitcoin (BTC) requires every node to store the entire history of the blockchain and verify every transaction, which can choke the entire network during periods of high activity.

NEAR solves this problem by splitting the network and removing capacity constraints on nodes on the network for greater scalability. Additionally, while most other sharding techniques involve the use of complex node hardware, NEAR formulates its sharding strategy in a cloud-hosted manner that keeps its nodes simple, lightweight, and efficient.

This sharding system ensures scalability, and by using a horizontal approach (particularly through its recent Doomslug consensus mechanism), the network can run an unlimited number of shards in parallel, making NEAR a compelling and versatile tool for developing DApps solution.

An assigned network of validators maintains each shard, and this division of labor allows for more dynamic distribution of computational tasks. This increases the capacity of the network to nearly 100,000 transactions per second. Additionally, NEAR is designed to offer significantly cheaper transaction fees than Ethereum.

However, scalability and cost are not NEAR's only areas of focus. The collective also focuses on accessibility issues. Blockchain is still a developing technology in an ever-growing industry, so it can be complicated for end users to use or understand projects. It also places a heavy burden on developers, causing some DApps to struggle to gain adoption despite being fully functional.

The urgent need for scalability could also drive developers to create their own blockchain platforms, which is a daunting task and not very economical, like setting up a local server farm to launch a website. Just as the emergence of Amazon's AWS and Microsoft's Azure platforms provided the infrastructure for new online services, NEAR hopes to provide developers with a common framework to build and maintain decentralized applications more easily.

4) Public chain comparison and ETH comparison:

a. Night Shadow Protocol, ETH2.0, Harmony, Polkadot, and Cosmos all adopt the sharded chain model. The difference is that NEAR maintains a separate main chain. Compared with ETH, DOT and other public chains, NEAR is a PoS public chain that adopts sharding technology, which aims to attack the pain points of Ethereum in all directions, not only to reduce the handling fee, but also to reduce block congestion. Each shard on the NEAR blockchain can process 10 times more transactions individually than Ethereum 1.0. The NEAR blockchain will eventually have over 100 shards. This means that NEAR will eventually be able to process 1,000 times more transactions per second than Ethereum 1.0.

Unlike Ethereum, the NEAR protocol is a single blockchain on which individual shards are rooted. Like traditional blockchains, each block contains all transactions for all shards, but this data does not exist in a single physical block; therefore, each node does not store all the data. Instead, validators only store transactions for their specific shard, and the list of all transactions in the block is physically stored in "chunks" for each validator of the network. This mode ensures that NEAR does not double spend in cross-shard transactions without sacrificing high throughput. The "chunk" design and continuous reallocation of resources allow NEAR to achieve more efficient cross-shard communication.

12. LTC（LTC）

1) Introduction

Litecoin and Dogecoin (DOGE) use the same Scrypt-based mining system, so they are often used for merge mining - a mining pool feature that enables users to mine two different cryptocurrencies at the same time. However, there are huge differences in the economic models of the two protocols.

Dogecoin has an unlimited supply of tokens and does not halve regularly. Dogecoin blocks are generated every minute, which is two and a half times faster than Litecoin. However, Litecoin is much scarcer, which makes it more suitable as a long-term holding asset.

Litecoin is a fork of the Bitcoin core source code and has some key differences from Bitcoin: it has a faster block generation time (two and a half minutes compared to ten minutes for Bitcoin), a larger total coin supply, As well as using the Scrypt hash function instead of Bitcoin's SHA-256 encryption.

Litecoin has also implemented several upgrades originally planned to be deployed on the Bitcoin network, such as Segregated Witness (Segwit), aimed at increasing its transaction throughput. It also integrates a layer 2 scaling solution called the Lightning Network.

2) Cause

Litecoin's original goal was to complement Bitcoin's economy, not compete with it. The crypto community was quick to embrace this narrative, calling Litecoin the “silver of bitcoin gold,” making the digital asset one of the most valuable coins and a longtime top five. In November 2013, it witnessed a huge price surge that brought the asset into the public spotlight.

3) Value

Litecoin started out as a fork of Bitcoin with several differences from its predecessor. First, it surpassed its parent protocol's block limit, which was two and a half minutes. Second, as its name suggests, Lee architected the network as a lighter, faster version of Bitcoin.

Litecoin also uses the Scrypt hash function instead of Bitcoin's SHA-256 to avoid being taken over by ASIC-based miners and allow CPU and GPU miners to flourish. However, over time, ASIC miners were actually able to develop Scrypt-based hardware and penetrate the Litecoin mining economy.

Litecoin is designed for speed, while Bitcoin is designed for maximum security and immutability. As a lightweight version of Bitcoin, it processes transactions faster and prevents payment delays. Bitcoin payments are processed in about nine to ten minutes, which can be a bit slow in some cases. However, Bitcoin does offer better security, as it allows information to have more time to propagate to the global peer-to-peer network (or nodes) before the transaction is confirmed.

You can spend Litecoin at over 2,500 stores and merchants, including Travala, RE/MAX, and eGifter.

4) Comparison of public chains with BTC and other public chains:

a. Category: asset class attribute + merchants in some countries accept payment

b. The main difference between LTC and BTC is: 1. Block generation speed: about 2.5min (BTC is 10 minutes), so it can provide faster transaction confirmation. 2. The total amount of Litecoin is set at 84 million, and the market value is about 8 billion US dollars. 3. After halving in 2019, the current block reward is 12.5 LTC, the circulation rate is about 80%, and the mining expansion rate is about 3.96%, which is at a low expansion rate level 4. The algorithm adopted by the consensus mechanism PoW of LTC is the scrypt encryption algorithm , compared to BTC, it was easier to mine LTC on ordinary computers before the advent of ASIC miners.

c. Application prospects in payment: Merchants that support cryptocurrencies generally support LTC, mainly due to the large block generation speed and popularity of LTC, and after the sell-off in the bull market in 2017, the degree of centralization of LTC is relatively low. , more flexible at the payment level.

d. However, the actual number of daily transactions and transfers of Litecoin is still at a lower level than that of BTC and other digital currencies. Currently, there are about 50,000-70,000 transactions per day, and the active addresses are floating around 150,000.

e. Litecoin has always had the title of Lite Silver. With the halving in 2019, the inflation rate has been further reduced, and it also has potential similar to digital silver in the field of payment and stored value. And the current market value of LTC is also within an acceptable range. After BTC is gradually compliant with the regulations, the market value potential of LTC will gradually emerge.

13. ATOM（Cosmos）

1) Introduction

The origins of Cosmos can be traced back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, Cosmos released a white paper and held a token sale the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help keep the project's flagship blockchain, the Cosmos Hub, secure. The cryptocurrency also plays a role in network governance.

2) Cause

Cosmos is a project that solves some of the "hardest problems" facing the blockchain industry. It aims to provide an antidote to "slow, expensive, unscalable and environmentally harmful" proof-of-work protocols such as those used by Bitcoin by providing an ecosystem of connected blockchains.

Other goals of the project include making blockchain technology less complex and difficult for developers, thanks to a modular framework that demystifies decentralized applications. Last but not least, inter-blockchain communication protocols make it easier for blockchain networks to communicate with each other — preventing industry fragmentation.

3) Value

The main concern of some in the crypto industry centers on the degree of fragmentation in blockchain networks. Hundreds of species exist, but few are able to communicate with each other. Cosmos aims to turn that around by making this possible.

Cosmos is described as "Blockchain 3.0" - as we mentioned earlier, an important goal is to ensure its infrastructure is easy to use. To this end, the Cosmos software development kit focuses on modularity. This allows easy building of networks using already existing code blocks. In the long run, it is hoped that complex applications can thus be built directly.

Scalability is another priority, meaning that more transactions per second can be processed compared to older blockchains like Bitcoin and Ethereum. If blockchains are to achieve mainstream adoption, they will need to be able to cope with demand as well as existing payment processing companies or websites — or even better.

Cosmos uses a proof-of-stake consensus algorithm. Validators holding more ATOM tokens are more likely to be selected to validate transactions and receive rewards. Nodes found to be dishonest are punished - they may end up losing the tokens they own.

4) Public chain comparison

Compare with Polkadot:

What Polkadot and Cosmos do is to provide a powerful underlying security system to connect various chains, and different blockchains with various functions can coexist and communicate in this network, which is to form a blockchain network (Internet of Blockchains). ). In simple terms, it mainly solves the problem of information islands between chains, and provides cross-chain infrastructure, enabling information exchange between chains in a secure and trustless manner, and allowing developers to develop cross-chain applications. , For example, the application of views on Ethereum can be used not only in Ethereum, but also in other chains.

a. In order to solve the scalability and scalability of the blockchain, Polkadot defines a set of Parachain and Relay chain to solve scalability and scalability issues respectively. Among them, parachains are responsible for data operations and transactions, and multiple parachains can complete horizontal expansion. The relay chain, as a center of Pokaldot, verifies the blocks given by each parallel chain and gives proof of finality. The relay chain will assign verification groups to parachains, help verify blocks, and participate in deciding whether to allow new parachains to join, etc., to solve the scalability of the blockchain.

b. Polkadot is equivalent to a plug-in board, which can be connected to various electrical appliances: refrigerators, computers, washing machines, electric fans, etc. They can handle different business logic and tasks, and the various electrical appliances connected to the socket are different parallel chains of Polkadot. Parachains are various separate Layer1 blockchains running in parallel on Polkadot as an external system of Polkadot. Most of the computing work in the entire Polkadot network will be delegated to each parachain for processing, and the parachain will be responsible for the implementation of specific business scenarios. Polkadot does not impose any restrictions on the functions of parachains. Parachains can be used as application chains to realize any application scenario, but they do not have the consensus capability of blocks themselves. They transfer the responsibility of consensus to the relay chain. Share security guarantees from the relay chain. Parachains can communicate with each other through ICMP (Interchain Message Passing), and they are also subject to block verification by the validator assigned to it. But a parachain may not be a specific chain, which is defined in Polkadot as: a parachain is a data structure specific to certain applications, which is globally consistent and can be performed by the validator of the Polkadot relay chain. verify. Some parachains may be Dapp-specific chains, or they may be parachains that focus on specific functions such as privacy or scalability, and there may be some experimental parachains. In short, parachains are not necessarily essential in nature. is the blockchain. Parachains are maintained by network maintainers called collators. The role of the collector node is to maintain the full node of the parachain, retain all the necessary information of the parachain, and generate new candidate blocks to pass to the relay chain validator nodes for verification and inclusion in the shared state of Polkadot. Validator: Validate and finalize the candidate block of the parallel chain, put it into the block of Polkadot, and get DOT reward after completion. Fishermen: Punish various malicious behaviors through phishing law enforcement in the network, and collect penalties as rewards.

c. Cosmos believes that coins can be off-chain. Tendermint, the core consensus mechanism of Cosmos, enables tokens to be transferred across blockchains. Tendermint is also an earlier POS consensus engine based on Byzantine Fault Tolerance in the blockchain world. Cosmos names the blockchain on the network composed of many independent and parallel running blockchains as a zone. For example, if the Bitcoin public chain is integrated into the cosmos ecosystem, the Bitcoin public chain is a part of cosmos. Area. Some of these areas are called hubs, and different areas can communicate and interoperate with each other through the shared hub. The first zone on the Cosmos network is the Cosmos Hub, a chain developed by Cosmos itself. Tendermint is a protocol layer and the Cosmos Hub is a relay station type application layer. All cross-chain asset transfers on the Cosmos network go through the Cosmos Hub, which means that the Cosmos Hub acts as a central bank settlement. The Cosmos Hub is responsible for managing each independent zone, tracking the total amount of tokens held by each zone, and ensuring that the total amount of tokens in all zones remains unchanged. Each Zone is obliged to report the real-time status of the new blocks it produces to the Hub. The Hub and the Zone communicate directly through the IBC (Inter-Blockchain Communication) protocol, while the Zone and the Zone communicate indirectly through the IBC protocol and the Cosmos Hub. This IBC can be seen as the TCP/IP protocol of the cosmos blockchain. When a Zone establishes an IBC connection to the Hub, it can automatically access other Zones connected to the Hub, which means that the Zone does not need to be connected to other Zones, but only to the Hub. Why not establish an IBC connection between each zone directly, but need to go through the Cosmos Hub as an intermediary? As the number of zones connected to the network increases, communicating in a direct way results in a quadratic increase in the number of links. For example, if the Cosmos ecosystem has a total of 10 zones other than the Hub, and each zone needs to establish a direct connection with other zones, there will be a total of 10*(10-1)/2=45 communications link, and only 10 communication links through the Hub. If there are 100 zones, 100*(100-1)/2=4950 must be created. If it is 1000 zones, 1000*(1000-1)/2=499500 must be established. The rapid growth of communication links can overwhelm the cosmos network. If there are too many connected chains, all zones will not be involved in a Hub, there will be multiple Hubs, and each Hub will be connected to some chains. IRIS, a popular project in the first half of the year, is a Hub on Cosmos.

d. Differences in underlying design concepts. Polkadot advocates centralization, that is, the block verification of the side chain ecology will be provided by the central Relay chain of Polkadot, and it also needs to be responsible for computing and security. With this design, sidechains accessing the network do not need to recruit validators themselves. Cosmos is just the opposite. Cosmos advocates decentralization. As the center of the entire architecture, the Cosmos hub only acts as an interaction coordination function to record and transmit data. Other side chains connected to the network need to complete their own ecological governance by themselves. Compared with Cosmos, Polkadot's management philosophy is more inclined to the central package. From a certain point of view, Polkadot is more like serving an architecture like Dapp. Since Dapp has no validator ecology and only connects users and chain data, the entire security is provided by Polkadot itself, and the tokens of Dapp users are also Polkadot's token Dot. Polkadot's concept is longer-term and more ambitious, and Polkadot emphasizes the data exchange of each chain. Cosmos, on the other hand, is more pragmatic and more practical, and emphasizes the value exchange of tokens.

e. The focus of cross-chain is different. Polkadot is designed to enable arbitrary message passing between parachains. Cosmos, on the other hand, focuses on cross-chain asset transfer, and its protocol is relatively simple.

14. ALGO（Algorand）

1) Introduction

Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are safe, scalable, and efficient, all key properties for effective real-world application. Algorand will support computations that require reliable performance guarantees to create new forms of trust. The Algorand mainnet went live in June 2019 and as of December 2020 was able to process nearly 1 million transactions per day.

2) Cause

Algorand was invented to speed up transactions and increase efficiency to counter the slow transaction times of Bitcoin and other blockchains. Algorand is designed to reduce transaction fees and eliminate the need for mining (like Bitcoin's energy-intensive process) because it is based on a permissionless, pure proof-of-stake (PoS) blockchain protocol.

3)Value

The Algorand blockchain is a permissionless, pure proof-of-stake blockchain protocol. Unlike proof-of-work (PoW) blockchains, where the root block must be verified by a randomly selected validator (using computing power), in pure proof-of-stake methods, all validators are known to each other and only consent next block to create a new block.

4) Public chain comparison

Compared with ETH and Polkadot:

The three projects all want to realize a decentralized permissionless public chain platform to carry decentralized applications.

a. Algorand's vision is to be a financial platform to carry various financial assets and financial products. This is similar to the current positioning of Ethereum, but the difference is that Algorand has been firm in this direction from the beginning, making Algorand's entire underlying protocol and product line optimized for this application direction. Algorand not only has the performance sufficient to meet the speed requirements of financial transactions, but also provides various features required for the realization of financial products at the protocol layer, such as atomic transactions and ASA (Algorand Standard Asset), etc.

b. Algorand uses a consensus algorithm based on verifiable random numbers (VRF, Verfied Random Function). The Algorand consensus algorithm decides whether to participate in each round of consensus by running a VRF algorithm similar to lottery drawing locally on all nodes. The chosen node will be able to propose a block and validate it with the rest of the nodes and reach a consensus on it. Algorand uses a pure proof-of-stake mechanism (PPoS, Pure Proof-of-Stake) as a node access mechanism, that is, the probability of each node participating in the consensus is positively related to the stake it has (that is, the number of ALGO tokens). Algorand consensus algorithm is the first consensus algorithm that uses cryptographic tools to improve performance. It is simple and elegant. Many well-known public chains including Difinity subsequently use VRF as a tool to implement consensus algorithms.

c. The development of Algorand consists of two parts: using Algorand's native features and developing Algorand smart contracts. The two native features provided by Algorand are atomic transactions and Algorand Standard Assets (ASA). These two functions are the two most commonly used in financial products: standard assets are used to issue tokens, which are used to substitute financial assets; atomic transactions are used to realize the exchange of tokens without intermediaries. Algorand smart contracts are divided into stateless contracts and stateful smart contracts. The difference between the two is that the state storage space on the chain needs to be used. If only a simple logical judgment function is required, the stateless contract can complete this process quickly and at low cost; and if some data needs to be stored on the chain, then It needs to be implemented using stateful smart contracts.

d. The development of Algorand is from thrift to luxury. If the application only needs to issue and trade a token, then the native ASA and atomic transaction functions of Algorand can already meet the needs of users; if the application wants to go further, hope If you can implement some automated custody and services, stateless smart contracts can meet the requirements; if you want to implement more complex logic, such as voting and asset mortgages, you can use stateful smart contracts. Simpler applications can be implemented with simple logic, which not only makes applications easier to develop, but also ensures application security.

e. Algorand's ecology is currently mainly composed of various assets, not only stable currency assets including USDT and USDC, but also security tokens and functional tokens including Props and Republic. In addition, Algorand is also actively building a financial application ecosystem, and has reached cooperation with various well-known organizations to provide them with decentralized solutions.

15. FTM（Fantom）

1) Introduction

Fantom is a Directed Acyclic Graph (DAG) smart contract platform that provides decentralized finance (DeFi) services to developers using its own custom consensus algorithm.

Along with its internal token, FTM, Fantom aims to solve problems associated with smart contract platforms, particularly transaction speed, which the developers say they have reduced to under two seconds.

The Fantom Foundation, which oversees the supply of Fantom products, was originally created in 2018 and launched Fantom’s mainnet OPERA in December 2019.

2) Cause

Aims to create a smart contract platform with scalability, decentralization and security.

3) Value

Fantom attempts to use a new consensus mechanism built from scratch to facilitate DeFi and related services based on smart contracts.

The mechanism, Lachesis, promises higher capacity and two-second transaction completion, as well as security improvements over traditional proof-of-stake (PoS)-based platforms.

Matching Ethereum, the project attracts developers looking to deploy decentralized solutions. According to its official documentation, its mission is to "give compatibility between all trading institutions worldwide".

Its internal PoS token, FTM, forms the backbone of the transaction and allows fees and staking activities, as well as user rewards represented by the latter.

Through its 2018 token sale, Fantom raised nearly $40 million in development funding.

Andre Cronje, founder of YFI, announced the launch of the Loot-like game Rarity on the Fantom chain. The game contains 11 kinds of characters. Players can upgrade after gaining experience points through exploration. Players who are leveling up can use character traits to create props, which can be sold in the secondary market.

In addition, the transaction aggregation protocol OpenOcean has been extended to the Fantom network. It is reported that OpenOcean has added Fantom to its network list, and will also connect with Fantom-based DeFi projects, including SushiSwap, SpiritSwap, SpookySwap, and Curve.

Even the most expensive on-chain data tool, Nansen, announced support for the Fantom blockchain. According to the announcement of Fantom, the on-chain data tool Nansen announced that it supports the Fantom blockchain, and users can now query Fantom-related on-chain data through the Nansen website.

As previously reported, Nansen is an on-chain data tool for professional blockchain users. The monthly fee ranges from $150 to $2,500. It is still in the Alpha development stage.

4) Public chain comparison

Compared with other public chains:

Fantom is a highly scalable blockchain platform that supports smart contracts based on DAG (Directed Acyclic Graph Distributed Database) technology, suitable for DeFi, cryptodApp, and enterprise solutions, and aims to break through the "old brand" by using the Lachesis protocol. "The biggest difference between the restrictions set by the blockchain and other public chains is the change in the storage method of transaction data brought about by DAG technology.

f. In Fantom, each transaction information can generate a separate unit, and the unit and the unit only need to be connected to each other for verification, and it is not necessary to combine the transaction and package it into a block as in the general blockchain. Therefore, the transaction is completed. The transaction concurrency is increased, and instant transactions are realized.

g. Since Fantom is compatible with the Ethereum EVM virtual machine, Ethereum's DeFi applications can be moved to the public chain with one click, enjoying the low rates and high-speed transactions of the public chain.

h. Fantom incorporates various chains into its network by bridging, such as Ethereum, BSC, Polygon, and Avalanche, to accommodate the future multi-chain trend. At present, major Ethereum projects such as SushiSwap and Curve have all migrated to Fantom, and traffic has also been introduced.

16. BCH（BCH）

1) Introduction

Bitcoin Cash is a peer-to-peer electronic cash system that aims to be a sound global currency with fast payments, small fees, privacy, and high transaction capabilities (in large blocks). In the same way that physical currency (such as dollar bills) is delivered directly to the person being paid, Bitcoin Cash payments are also sent directly from one person to another.

As a permissionless decentralized cryptocurrency, Bitcoin Cash does not require a trusted third party nor a central bank. Unlike traditional fiat currencies, Bitcoin Cash does not rely on currency intermediaries such as banks and payment processors. Governments or other centralized companies cannot censor transactions. Likewise, funds cannot be confiscated or frozen - as financial third parties cannot control the Bitcoin Cash network.

2) Cause

In 2017, the Bitcoin project and its community were split in two due to concerns about Bitcoin's scalability. The result was the creation of a hard fork of Bitcoin Cash, a new cryptocurrency that proponents see as a legitimate continuation of the Bitcoin project as peer-to-peer electronic cash. All Bitcoin holders at the time of the fork (block 478,558) automatically became owners of Bitcoin Cash. Bitcoin, invented by the pseudonym Satoshi Nakamoto, remains an independent cryptocurrency.

Unlike Bitcoin (BTC), Bitcoin Cash is designed to scale to meet the demands of a global payment system.

3) Value

Bitcoin Cash combines the scarcity of gold with the spendability of cash. With a limited total supply of 21 million coins, Bitcoin Cash is provably scarce and, like physical cash, easy to use. Transactions are fast, and transaction fees are often less than a tenth of a cent. Anyone can accept Bitcoin Cash payments from their smartphone or computer.

Bitcoin Cash has various use cases. In addition to peer-to-peer payments between individuals, Bitcoin Cash can also be used to pay participating merchants for in-store and online goods and services. Extremely low fees have enabled a new economy of microtransactions, such as tipping content creators and rewarding app users with pennies. Bitcoin Cash also reduces fees and settlement times for remittances and cross-border trade. Other use cases include tokens, simplified smart contracts, and private payments using tools like CashShuffle and CashFusion.

4) Public chain comparison

Compared with the BTC public chain:

a. Unlike Bitcoin (BTC), Bitcoin Cash is designed to scale to meet the needs of a global payment system. When splitting, the Bitcoin Cash block size increased from 1MB to 8MB. The increased block size means Bitcoin Cash can now process more transactions per second (TPS) while keeping fees extremely low, addressing the payment delays and high fees that some users on the Bitcoin BTC network experienced.

b. As of October 2021, Bitcoin Cash has a block size of 32MB, while Bitcoin has a block size of 1MB.

c. BCH is based on the UTXO model. UTXO is simpler and easier to achieve decentralization. At present, in the entire blockchain world, no project has reached the level of Satoshi Nakamoto’s system design, that is, it can support high TPS, and the entire system is relatively robust. , BCH can support 500-1000TPS by simply changing the block size and shortening the block time.

17. TRX（TRON）

1) Introduction

The platform was founded in September 2017 by tech entrepreneur Justin Sun, who is currently the head of the TRON Foundation, a non-profit organization that assists the development and growth of the TRON ecosystem. It raised a total of $70 million through an initial coin offering (ICO) and launched its mainnet in June 2018. Since then, it has grown into one of the top 20 cryptocurrencies by market cap, and briefly made the top 10.

As a blockchain with smart contract capabilities, TRON allows developers to build and deploy powerful decentralized applications (DApps) that can be designed for almost any purpose - including online gaming, decentralized exchanges , Yield Farm, Open Lending Platform, etc.

2) Cause

TRON is an advanced blockchain platform designed to decentralize and democratize the content distribution industry through a series of permissionless tools, platforms and protocols.

3) Value

TRON is similar to EOS in that users on the network need to acquire resources in order to transact or interact with smart contracts. On TRON, these resources are divided into four types: bandwidth, CPU, storage, and RAM. Users need to freeze (temporarily lock) their TRX to gain bandwidth and energy.

Bandwidth points are consumed when users make regular transactions, and smart contract transactions also consume energy. Both bandwidth and energy are gradually restored within 24 hours.

Like most smart contract platforms, TRON has its own virtual machine — in this case, called the TRON Virtual Machine (TVM). TVM is essentially an operating system for running smart contracts in a secure, decentralized, yet reliable environment. TVM is said to be Turing complete, but its full capabilities are still being uncovered.

TRON is secured by a Delegated Proof of Stake (DPoS) consensus mechanism that uses a network of 27 Super Representatives (SRs) to validate transactions and package them into blocks. These Super Representatives are voted in place through an open election, where TRX holders vote for their favorite SR based on their merits.

Super Representatives are also responsible for proposing improvements to the TRON network – which are then voted or rejected by other SRs and a second type of nodes called SR partners.

TRON is designed to power a decentralized internet where individuals can access content without geographic restrictions, censorship or restrictions. It includes a number of features to help achieve this, including:

On-chain governance

TRON joins a growing number of blockchain platforms to support on-chain governance - allowing TRX holders to play an active role in shaping the future of the platform by selecting Super Representatives and Super Representative partners who ultimately enforce the will of the community.

Users who participate in the voting process by staking tokens will receive a small percentage of the network reward in return.

Token Support

Like other competing smart contract platforms including Ethereum and Binance Smart Chain, TRON supports multiple token standards that help developers support a range of novel use cases. These include TRC-20, TRC-10 and TRC-721 (non-fungible) token standards.

High scalability

TRON is designed to support massive on-chain scaling, allowing developers to build applications that can support potentially tens of thousands of users simultaneously. Currently, TRON’s DPoS consensus system can easily handle around 2,000 transactions per second (TPS), but there are plans for further improvements in the future.

Perfect Ecosystem

As one of the first smart contract platforms to enter the mainnet, TRON now has a well-established ecosystem of DApps and DeFi products. This includes the decentralized file-sharing protocol BitTorrent, the decentralized exchange PoloniDEX, and the JUST ecosystem of DeFi platforms.

Since Tron's virtual machine is compatible with the Ethereum Virtual Machine (EVM), developers can easily port their DApps from Ethereum or other EVM-compatible blockchains to Tron.

4) Public chain comparison

Compared with BTC:

a. Bitcoin market value: 4.5 trillion, TRON market value: 40 billion

b. The development of foreign bitcoin public chains is relatively early, and there are many people who support them. The development time of the domestic TRON public chain is a little shorter. Although the market value ratio is much worse, I believe that there are very few people who really understand and support TRON in China. With China's huge population, in the next few years, only the more Many Chinese support TRON, and the market value of TRON has exceeded one trillion yuan. There is no problem at all.

c. There are few applications on Bitcoin, it is mainly used for payment and storage, and the less development of DAPP limits its further development. DAPP, DeFi mining, and various airdrop welfare activities on the domestic public chain TRON are basically once or twice a week, which are more attractive to new users. TRON adds tens of millions of users every month. 100 million TRON users, this is also the reason why they are optimistic about TRON.

Compared with ETH:

a. Ethereum market value: 2 trillion, TRON market value: 40 billion

b. The market value of Ethereum still has a big bubble in this round of bull market. Its valuation should be only tens of billions, which is not stronger than that of TRON. Now the experience of Ethereum is very poor, the handling fee is high, and the deduction fails. Its upgraded version is still several years away. The domestic public chain TRON is improving every week and every day, the system network is stable, more and more projects are developing Dapps on TRON, and the project parties are also optimistic about TRON, and they have chosen to cooperate with TRON.

Compared with EOS:

c. Grapefruit market value: 39 billion, TRON market value: 40 billion

d. Since the development of the grapefruit public chain, many people have been scammed. There are many unreliable DeFi projects on the grapefruit.

The security of EOS is no better than that of Ethereum. Due to the continuous congestion of Ethereum, some DAPP teams have shifted their positions to EOS. Justin Sun once said that there are many loopholes and dangers in Ethereum smart contracts, so before determining that it is 100% safe to lock up with smart contracts, TRON would rather use a simple cold wallet for lock-up. In addition to cold wallets, the white hat bounty program launched by TRON is also used to consolidate network security. On top of the PoS algorithm, TRON proposed the TPoS algorithm. This mode makes TRON's transmission speed superior to other public chains. The TVM virtual machine has been launched on the main network of TRON, which is compatible with the Ethereum virtual machine environment, and subsequently compatible with the EOS virtual machine. TRON opens the entrance of TRON DAPP in multiple directions. DAppRadar, DAppReview, SiderStore, Cobo Wallet and Math Wallet all support access to TRON DAPP. TRON said that it will build the DAPP ecosystem through strategies such as the TRON accelerator and the game supporter program.

18. XLM（Stellar）

1) Introduction

Stellar is an open network that allows transferring and storing funds. When it was released in July 2014, one of its goals was to promote financial inclusion by reaching the world's unbanked — but soon after, its priorities shifted to helping financial firms connect with each other through blockchain technology connect.

The network’s native token, lumens, acts as a bridge, reducing the cost of transacting assets across borders. All of this is designed to challenge incumbent payment providers, who often charge high fees for similar services.

If this all sounds familiar, it’s worth noting that Stellar was originally based on the Ripple Labs protocol. The blockchain is the result of a hard fork, and the code is subsequently rewritten.

2) Cause

Fostering financial inclusion by reaching the world's unbanked — but soon after, its priorities shifted to helping financial firms connect with each other through blockchain technology

3) Value

Cost is a sticking point for many. However, the high cost of cross-border payments is not limited to fiat-based payment solutions like PayPal – transaction fees have been known to soar on the Bitcoin and Ethereum blockchains due to congestion.

Stellar is unique because it only costs 0.00001 XLM per transaction. Given that at the time of writing, a unit of this cryptocurrency costs just a few cents, this helps ensure users keep more of their money.

Few blockchain projects are able to form partnerships with big-name tech companies and fintech companies. A few years ago, Stellar and IBM teamed up to launch World Wire, a project that allows large financial institutions to submit transactions to the Stellar network and trade using bridge assets such as stablecoins.

While other blockchains have community funds, meaning grants can be made to projects that help to further develop the ecosystem, Stellar allows its users to vote on which businesses should receive this support.

Stellar Lumens (XML) is the base currency circulating in the Stellar network payment system (Stellar). Users can transfer any currency through it, including USD, RMB, EUR, JPY, or Bitcoin, which is easy and fast. Relying on the Bitcoin blockchain technology, it can connect 180 currencies in the world within 2-5 seconds, connect banks, payment systems and the general public, and reduce transaction fees and stellar time delays caused by cross-border payments. Stellar (Stellar) is a platform that connects banks, payment systems and the general public for fast, reliable and virtually cost-free money transfers.

4) Public chain comparison

Compared with other public chains:

a. The current Stellar development is slow. After many years of development, TVL is about 1.5 billion US dollars so far, ranking 40+ in the public chain. The speed is far less than the emerging public chain that has just started.

b. The reason for the slow development of Stellar is that the ecological incentive mechanism is unreasonable. At the beginning of Stellar's creation, in order to prevent the circulation of XLM from decreasing, an inflation mechanism was set up. The annual inflation plan produces tokens equivalent to 1% of the total Stellar supply. Accounts with more than 0.05% of Stellar's total share can receive additional XLM coins. The establishment of the inflation mechanism is intended to motivate, but from the analysis of Coinmetrics, due to the early participation of the foundation, and most of Stellar’s ​​participants joined in the outbreak period in 2017, speculative users are mainly, and the ecological participation is not high. . This caused 98% of the additional XLM coins to go to SDF (Stellar Development Foundation), which did not benefit the Stellar project.

c. Continue to expand financial partners: In the context of the explosion of DeFi projects, multi-currency and cross-chain transfers are the pain points of the current blockchain, and Stellar provides one of the solutions, defining a new standard for global payments. As a global cross-border payment solution, Stellar has been recognized by the market by expanding payment companies, national banks, financial institutions, etc., and has been affirmed by many parties and has many strong partners.

d. Compatible with EVM: Stellar contracts are not compatible with EVM, which means that developers cannot quickly deploy projects on Ethereum to Stellar. In February 2021, FlareNetworks has announced the integration of Stellar Lumens (XLM) with its smart contract platform, providing compatibility with the Ethereum blockchain. If successful, Stellar will be more scalable.

19. ICP（DFINITY）

1) Introduction

The Internet Computer is the world's first blockchain that operates at network speed and has unlimited capacity. It also represents the third largest blockchain innovation alongside Bitcoin and Ethereum — a blockchain computer that can scale smart contract computations and data, run them at network speed, efficiently process and store data, and Provide developers with a powerful software framework. By making this possible, the Internet Computer enables a complete reimagining of software - offering a revolutionary new way to build tokenized Internet services, pan-industry platforms, decentralized financial systems, and even traditional businesses systems and websites. The project was founded by Dominic Williams in October 2016 and has attracted a lot of interest from the crypto community. DFINITY raised $121 million from contributors including Andreessen Horowitz, Polychain Capital, SV Angel, Aspect Ventures, Electric Capital, ZeroEx, Scalar Capital, and Multicoin Capital, as well as several prominent early Ethereum backers.

On May 10, 2021, DFINITY launched the Internet Computer into the public domain. This major milestone means that the Internet can now function as a decentralized global computer - marked by the release of the source code of all Internet computers into the public domain, as well as the ICP utility that allows tens of thousands of community members to manage Internet computers Token Network.

2) Cause

A blockchain computer that scales smart contract computations and data, runs them at network speed, efficiently processes and stores data, and provides developers with a powerful software framework. By making this possible, the Internet computer enables a complete reimagining of software - offering a revolutionary

3) Value

The purpose of the internet computer is to extend the public internet so it can also be the computing platform of the world. Today, the Internet is a network that connects everyone and everything, but systems and services currently run from private infrastructure. The scientific breakthrough behind the Internet computer is the chain key technology, which includes dozens of advanced technologies such as novel consensus, non-interactive distributed key generation (NI-DKG), network nervous system (NNS), Internet identity, etc. Chain key technology consists of a set of cryptographic protocols that coordinate the nodes that make up the computers of the Internet. It was one of the fundamental breakthroughs behind the internet computer, allowing it to have a single public key. This is a huge advantage because it allows any device, including smartwatches and mobile phones, to verify the authenticity of artifacts from computers over the Internet. In contrast, this is impossible with traditional blockchains. A single public key is just the tip of the iceberg: chain-key technology is the engine that powers internet computers and makes it possible to run them. It allows adding new nodes to form new subnets to expand the network indefinitely; replacing failed or crashed nodes with new ones without stopping; recovering subnets even if too many of them fail; and upgrading seamlessly Internet computer protocol that allows the network to fix bugs and add new features. The DFINITY R&D team invented a new non-interactive key-sharing protocol. Each old signer only needs to broadcast a message to the new signer. To ensure this is done securely, we use many concepts from advanced cryptography, including forward secrecy and encryption with non-interactive zero-knowledge proofs. Because it is non-interactive, the key resharing protocol operates in a way that is well suited to an asynchronous environment, with benefits including key preservation. Throughout the lifetime of the subnet, it is known by one public key, and other parties on the Internet computer do not have to keep track of the changed public key.

A scientific breakthrough called chain key technology allows internet computers to run at network speeds - query calls are executed in milliseconds, and update calls take 1-2 seconds to complete. What's more, at Genesis, the block rate for internet computers will hit 2.5 blocks per second (bps), then quickly hit an industry-leading 10.3 bps, and hit about 1,000 bps by the end of the year. In the case of the open version of Reddit running on an internet computer, when a user browses the forum, a custom view of the hosted content will be formulated and served to their web browser by executing a query call that runs in the vicinity of milliseconds node, providing a great user experience. However, when the user wants to post occasionally or provide a token hint to the post author, this will involve an update call,

4)Public chain comparison

Compared with other public chains:

a. Consensus design is a highlight of DFINITY. DFINITY adopts a bottom-up four-layer structure involving PoS, VRF, PSP, and BFT.

b. DFINITY adopts a multi-chain structure, and the network, storage and consensus are divided by chain as a unit, and the multi-chain consensus protocol stack is used to achieve scalability. The network requires 2 blocks and a threshold group relay to achieve eventual consistency, with an average confirmation time of about 7.5 seconds.

c. DFINITY further enhances the capabilities of the P2P network, forming a unique enhanced hybrid network (partially semi-structured and part fully-structured), which effectively completes the information transfer between chains while dividing the network in each chain.

DFINITY has a Blockchain Nervous System (BNS), and all ICP holders can vote on proposals such as system upgrades and freezing of malicious accounts. A certain fee is required to apply for a proposal. If you are unwilling to vote by yourself, you can also delegate the right to vote to others.

20. HBAR（Hedera）

1) Introduction

Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy, allowing individuals and businesses to create powerful decentralized applications (DApps).

It was funded through an initial coin offering (ICO) in August 2018 and first launched open access to its mainnet a year later in September 2019. As part of the ICO, investors were able to buy the platform’s native utility token (HBAR) at the lowest possible price.

First, HBAR is the fuel that powers Hedera services, such as smart contracts, file storage, and regular transactions. Second, it is used to help secure the network, as HBAR users can stake their tokens to help maintain the integrity of the platform.

2) Cause

Be a fairer and more efficient system that removes some of the limitations faced by older blockchain-based platforms - such as slow and unstable performance.

3) Value

Hedera Hashgraph uses a new type of consensus system called Hashgraph Consensus to secure its network.

This uses a rotating management committee of up to 39 highly diverse organisations spanning up to 11 different industries. These involve directing the Hedera codebase, voting on platform decisions, and operating initial nodes on the Hedera public network. Hedera uses a novel form of Proof of Stake (PoS) that allows HBAR users to stake their resources to help secure the network. Currently, all Hedera nodes are managed by Hedera itself or by members of the Governing Council, but there are plans to switch to a permissionless system in the future.

Overall, Hedera's security settings ensure that it achieves "asynchronous" Byzantine Fault Tolerance (ABFT) - meaning it guarantees the timing and order of a set of transactions, even if some data is delayed or lost.

4) Public chain comparison

Compared with other public chains:

a. Unlike most other cryptocurrency platforms, Hedera Hashgraph is not built on a traditional blockchain. Instead, it introduced an entirely new distributed ledger technology called a hashgraph. The technology allows it to improve on many blockchain-based alternatives in several key areas, including speed, cost, and scalability. The average transaction fee for a Hedera transaction is just $0.0001, and it typically completes within 5 seconds. Overall, Hedera Hashgraph claims it can process over 10,000 transactions per second (TPS), compared to around 5-20 for most popular proof-of-work (PoW) based blockchains.

b. The platform provides several major network services. These include:

A token service where users can easily configure and mint fungible and non-fungible tokens (NFTs) on Hedera with just a few lines of code.

A consensus service that acts as a trust layer for any application or network that requires secure, verifiable event logs.

Smart contract tools that allow developers to build powerful and efficient decentralized applications.

Decentralized file storage service with features such as proof of deletion, controlled variability, and time-based file expiration.