What is the difference between L1 public chain and public chain?

The terms L1 public chain and public chain help investors better understand the architecture of the blockchain. L1 is the abbreviation of Layer1, which refers to the basic layer in blockchain technology. A public chain refers to an open, decentralized blockchain network in which anyone can participate without obtaining specific permissions. For many novices, it is still difficult to understand the difference between L1 public chain and public chain? According to data analysis, L1 public chain and public chain are actually different expressions of the same concept. They both refer to the first layer (Layer1) blockchain, also known as the basic layer blockchain. The following is Let’s talk about it in detail.

#What is the difference between L1 public chain and public chain?

The main difference between L1 public chain and public chain is the name. In fact, both refer to the first layer (Layer1) blockchain. Although conceptually, L1 public chain and public chain are the same and both refer to an open, decentralized blockchain network at the base layer, L1 public chain may be used more in some contexts to emphasize its role as The role of the base layer is to distinguish it from the upper application layer blockchain or second layer solutions (Layer2 Solutions). Public chain is more commonly used to refer to any open, decentralized blockchain network, whether it is the base layer or other levels.

L1 is another name for the underlying blockchain. Binance Smart Chain (BNB), Ethereum (ETH), Bitcoin (BTC), and Solana are all Layer-1 protocols. They are called L1 because they are the main network in their ecosystem. In contrast, off-chain solutions and Layer 2 solutions are both built on the main chain. In other words, the L1 protocol is able to process and complete transactions on its own blockchain, while bringing its own native token for paying transaction fees.

The public chain is a consensus blockchain that anyone in the world has the authority to read, send and obtain valid confirmations. The characteristics of public chains include high transparency, high degree of decentralization, and high security. Data and transactions on the public chain are public and jointly maintained and verified by multiple nodes on the network. Public blockchain corresponds to Private Blockchain and Consortium Blockchain, which are usually restricted by the permission of a specific organization or entity.

What are the standards for public chains?

The standards of public chains usually involve decentralization, openness, transparency, security, consensus mechanisms, etc. Public chains usually follow these basic principles, but specific public chain projects may have different requirements. Designed and implemented to meet different needs and application scenarios. The following is a specific analysis:

1. Decentralization

The public chain should be decentralized. There is no single centralized management agency or node, but multiple nodes distributed around the world. A network of nodes is jointly maintained and managed.

2. Openness

The public chain should be open. Anyone can freely join the network and participate in activities such as verifying transactions, creating smart contracts, or submitting transactions without requiring specific permissions or permissions. .

3. Transparency

Transaction records and data on the public chain should be open and transparent. Anyone can view and verify the occurrence and results of transactions, ensuring the transparency and credibility of the network. Spend.

4. Security

The public chain should have a high degree of security and be able to resist various network attacks and malicious behaviors to ensure the security of user assets and data.

5. Consensus mechanism

Public chains need an effective consensus mechanism to ensure that all nodes reach a consensus on the consistency of transactions and status. Common consensus mechanisms include Proof of Work (PoW), Proof of Stake (PoS), etc.

6. Scalability

Public chains need to have certain scalability and be able to handle large amounts of transactions and data to meet growing user needs without affecting network performance and efficiency. .

7. Smart contract support

Public chains usually support the creation and execution of smart contracts, allowing developers to write and deploy automatically executed contract codes on the chain to implement various complex business logics and application scenarios.

8. On-chain assets

The public chain can support the issuance and trading of native cryptocurrencies (such as Bitcoin, Ethereum, etc.) and other digital assets, providing users with diversified assets. Management and trading functions.

9. Autonomy

Public chains should have a certain degree of autonomy, that is, they should be able to self-manage and self-adjust and not be controlled by specific organizations or individuals to ensure the long-term stable operation of the network. .

10. Community participation

The development and governance of the public chain should be community participation, fully considering the opinions and suggestions of community members, and achieving a democratic governance model.

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