I. What is Blockchain

Blockchain is adecentralized, traceable, and immutabledistributed ledger technology that records all transaction data. Its core characteristics are guaranteed through the following mechanisms:

• Decentralization: Guaranteed by consensus network, with no single control center.
• Traceability: Ledger data is public, and transaction records can be traced.
• Immutability: Data security ensured through cryptographic mechanisms (such as Hash algorithms).

Consensus Algorithms

• POA(Proof of Authority): Based on consensus from trusted nodes.
• POW(Proof of Work): Accounting through computing power competition.
• POS(Proof of Stake): Accounting based on token holdings and time.
• DPOS(Delegated Proof of Stake): Accounting by elected representative nodes.
• PBFT(Practical Byzantine Fault Tolerance): Suitable for alliance chains.
• Comet-BFT
• Libra-BFT
• Avalanche-BFT
• HotStuff-BFT
• POET(Proof of Elapsed Time): Random proof based on time elapsed.
• POH(Proof of History): Timestamp verification based on historical records.

Traceability

• Ledger data is open and transparent, with each transaction traceable through associations.

Immutability

• Using Hash algorithms to ensure data integrity, with any tampering resulting in hash value mismatch.

II. Blockchain Characteristics Analysis

1. Decentralization: No centralized institution control, nodes collectively maintain the network.
2. Traceability: All transaction records are public and historical data can be queried.
3. Immutability: Data security guaranteed through cryptography and consensus mechanisms.

III. Public Chains, Alliance Chains, and Cross-Chain

Public Chains

• Definition: Blockchain networks where anyone can participate in consensus.
• Characteristics: Fully open, no access permission required.
• Representatives: Bitcoin, Ethereum.
• Note: Some public chains are closer to private chains due to high project party control.

Alliance Chains

• Definition: Blockchain networks requiring CA center certification, with specific groups participating in consensus.
• Characteristics: Access threshold, suitable for enterprise or organizational collaboration.
• Representatives: Hyperledger Fabric, Chang'an Chain, Ant Chain, Tencent Trusted Chain, Baidu Superchain, HyperChain.

Private Chains

• Definition: Blockchain networks independently run by project parties or individuals.
• Characteristics: Completely controlled by a single entity, with highly centralized permissions.

Cross-Chain

• Definition: The act of asset transfer or message interaction between different blockchains.
• Examples:
• Transferring USDT from Ethereum to Solana.
• Depositing ETH from Layer 1 to Layer 2.

IV. Chain Abstraction

Chain abstraction is a technical solution that modularizes and abstracts the complex functions of blockchain, facilitating reuse across different networks.

Using DappLink Chain Abstraction as an Example

• Function: Abstracting L2/L3 Rollup services, proof systems, rapid verification, and cross-chain models.
• Advantages: Any L2/L3 network can directly use this solution for Rollup, proof, verification, and cross-chain operations.
• Application Scenarios: Improving blockchain network interoperability and development efficiency.

The Web3 Community Introduction