What is the situation below the public chain (will the public chain return to zero)

08/06/2023 00:58 • Metaverse Matters • 113 views

What is the situation below the public chain? The different parts of the underlying architecture of the blockchain form a whole; Different applications can be developed based on specific application scenarios. In these applications, blockchain technology itself is a very important concept: it can make users and smart contracts more powerful, efficient, and secure in performing operations The underlying layer of blockchain is the various aspects of blockchain technology and the fundamental components it relies on. For example, Bitcoin and Ethereum are all built on the Bitcoin network. This type of system is controlled by the Bitcoin protocol, but it is also limited by the Bitcoin ecosystem. Due to the significant influence of some people in the Bitcoin community over Bitcoin, they will use Bitcoin as their own currency, so they believe that this type of encrypted asset will bring more value to the entire industry. (Beep News)

Will the public chain return to zero

Editor’s note: This article is from Wind and fire wheels Community (ID: FHBT18), written by Pei Pei, and reproduced by Odaily Planet Daily with authorization Hello everyone, I am Pepe, who loves Western Europe. In the past year, we have seen many blockchain project owners and investors making money or speculating on coins. However, there are not many public chains to talk about, and many people even believe that they will return to zero. I have also recently noticed several trends regarding public chains and their future. Firstly, there are some interesting data. According to the statistics of DappRadar, as of June 18, 2020, there are about 5.28 billion US dollars worth of crypto assets in the world stored in its smart contract, which means that there are more than 200 million Cryptocurrency in the world with the account or wallet address. Among them, the top ten are Uniswap, Curve, Synthetix, etc., but according to Bloomberg, nearly 80% of the tokens that account for less than 5% of the total market value are at risk – if investors do not bear this risk, there may be a large number of encrypted assets locked in the DeFi protocol in the next year. In addition, the Selling climax in the market caused by the problem of high gas fees due to Ethereum network congestion has closed some Ethereum trading platforms, and the number of Ethereum 2.0 pledges has increased from 300000 to about 1 million. Secondly, at the end of last year, there was a rumor that the price of Ethereum fell below $1. The news that “Bitcoin will reach $20000 again” once triggered market discussion. Some people speculated that this statement might be “counterfeit currency season”. So why should Ethereum become the next mainstream? There are two reasons:

1. The threshold for Ethereum developers is getting lower and lower

2. The ecological development has gradually matured, and the projects in Ethereum’s ecology have become more diversified

3. The infrastructure construction within the Ethereum ecosystem is increasingly improved. The more projects on Ethereum, the larger its application scenarios will be. For example, the types of applications on Ethereum will increase with the expansion of users. Therefore, for development teams, the most important thing to note is that if developers do not have sufficient technical foundation to build their own ecosystem, their development costs will increase; In addition, Ethereum has high performance requirements. Of course, the main network of Ethereum 2.0 has not been launched yet, so the demand for technical talents must be high. Therefore, if Ethereum 2.0 can really achieve the characteristics of complete decentralization and has a certain degree of scalability and stability, it is unlikely that it will usher in explosive growth sometime this year. Therefore, both Ethereum 1.0 and the second floor expansion scheme are indispensable. However, if we only consider the utilization rate, it may not be able to meet large-scale commercial purposes. The third point is that the security of Ethereum is very important. The current TPS of Ethereum is up to thousands of transactions per second.

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What is the situation below the public chain (will the public chain return to zero)

Will the public chain return to zero

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