What are rules?
Rules, are the basis for achieving collaboration in human society. It is a kind of constraint and guideline to define the boundaries, expectations and results of behavior. In the real world, we are accustomed to observing explicit rules such as laws, contracts, systems, and etiquette; in cyberspace, protocols, codes, and algorithms also constitute “soft rules”.
In the cryptocurrency world, Code is Law means that everything that the system follows is set by the code and executed automatically without human intervention.
What is a Public Blockchain?
Public Blockchain, full name Public Blockchain, is a decentralized blockchain network** that anyone can freely read, send transactions, and participate in consensus.
Its most core features are:
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Openness: anyone can access and use it
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Incorruptibility: once the data is on the chain, it cannot be changed
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Decentralization: no reliance on central institutions through distributed node consensus
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Resistance to censorship: not controlled by a single point or party, transactions cannot be suspended or blocked at will
Classic representatives such as Bitcoin, Ether (Ethereum), Solana and so on.
Public Chain Classification
Public chains can be categorized in many ways from different perspectives:
I. Classification by consensus mechanism
| Type | Representative Projects | Features |
|---|---|---|
| PoW | Bitcoin | High security, but high energy consumption |
| PoS | Ethereum 2.0 | Energy-efficient, block producers chosen via staking |
| DPoS | EOS, Tron | Delegated nodes via voting, high efficiency but less decentralized |
| BFT-based | Cosmos Tendermint | Fast, suitable for consortium chains and modular blockchains |
| PoH | Solana | High-speed timestamping chain, combined with PoS consensus |
II. Categorized by development ecology
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General-purpose public chains: Ether, Solana (supporting smart contracts, various DApps)
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Application-based public chain: Flow (optimized for NFT), Mina (focusing on lightweight privacy)
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Modular public chains: Celestia, EigenLayer (focusing on consensus and data availability layering)
Why do we need public chains?
1. Build a decentralized trust system
In the absence of intermediaries (e.g. banks, platforms), people can still accomplish value transfer and contract execution, relying on cryptography and consensus mechanisms.
2. Facilitating the free flow of assets
Cryptographic assets, NFT, Stablecoin, etc. can be transferred globally without any obstacles, realizing the infrastructure of the Internet of Value.
3. Creating an open financial and application ecosystem
Decentralized applications (DApps) such as DeFi, GameFi, SocialFi, etc. must run on top of public chains that do not require licensing in order to guarantee openness, transparency and fairness.
4. Censorship Resistance and Data Sovereignty
Users own their own private keys and data without relying on platform hosting, and have the ability to “self-sovereign identity and assets”.