Building the Perfect Blockchain: Battle of the Public Chains
What makes the perfect blockchain? Well, let's see, have you ever been camping? If you have, you may be familiar with s'mores. There are three ingredients one needs to make the perfect s'more - crackers, steady yet easy to bite into, chocolate, sweet and delicious, and marshmallows, soft and fluffy. Putting these three ingredients together will certainly lead to the perfect ooey-gooey camping delight for everyone sitting around the campfire. Similarly, the blockchain needs to meet three requirements to become a solid, seamless, and stable blockchain network.
These requirements inlcude decentralization, scalability, and security. So far, all existing blockchains are yet to fully deliver on all three parts. That's because this blockchain trifecta is hard to achieve. Developers are still trying to build the ideal blockchain that can deliver on all three feats successfully. To deliver this, only public blockchains can qualify, as private blockchains are usually centralized. Satoshi Nakamoto introduced the first blockchain network - Bitcoin. This network meets decentralization and security, but it is not scalable.
The Bitcoin network cannot be overwritten, it can only be forked to become a new and different blockchain like that of Litecoin or Bitcoin Cash. Thus sparked a new mission as blockchain developers everywhere began their journeys to try and build the ideal blockchain. The first to make its debut after Bitcoin was Ethereum. Ethereum introduced smart contracts which meant that the network had room to grow. While the code was not as strict as Bitcoin, it still wasn't scalable.
Bitcoin and Ethereum became the legacy blockchains, every blockchain that came after was inspired by them. In order to scale the Bitcoin network, layer 2 solutions presented a solution. Meanwhile, Ethereum set out to launch Ethereum 2.0. This upgrade took over 6 years to launch. Years since their launch, both Bitcoin and Ethereum are still working hard to become better blockchains. Still, they both have a long way to go.
Building the ideal blockchain is no easy feat. Many other public blockchains are working towards the same goal, much like the legacies, their journeys are also slow but steady. Let's have a look at some of the most popular public blockchains in the industry right now. Two of the most popular public blockchains include Polkadot and Cardano. They were both founded by different co-founders of the Ethereum blockchain.
Both Polkadot and Cardano are blockchains that are working to deliver on decentralization, security, and scalability. So far, both blockchains are doing well to deliver on these features. However, their growth rate is still slow. While Polkadot is ahead in comparison to Cardano, Cardano just recently launched its smart contract feature and will steadily upgrade to accelerate its growth. Both blockchains use a Proof-of-Stake consensus mechanism and have a very active community.
Another popular blockchain in the industry is Cosmos. This ecosystem is also doing well in delivering all three features of the perfect blockchain. Similar to Polkadot and Cardano, Cosmos is going a step further to deliver on interoperability as well. Its protocol comes with software development kits that allow blockchains to communicate with one another for seamless cryptocurrency transfers. Meanwhile, the Tezos blockchain is also a popular network. It launched with a focus on being an energy-efficient blockchain and gathered a prominent community of NFT artists who began minting their NFTs guilt-free.
Turning heads recently is the Aptos blockchain network. This blockchain initiative comes from some of the same engineers who were behind Meta's blockchain project Diem, or Libra, before that. In a nutshell, the Aptos team is hoping to build a chain that can streamline the entire network's throughput capacity. It will do so processing transactions first and validating them afterwards. Aptos is just getting started on its journey and could be an interesting project to keep an eye on.
The Near Protocol is another impressive blockchain network that seems to be delivering the complete blockchain experience. It is a platform specifically known for launching decentralized applications (dApps). In particular, the very active Near community is highly satisfied with the platform's developer and user-friendly ecosystem. More than meeting the three key features of a blockchain, the Near Protocol shifted its focus to delivering simplicity. By doing so, it hoped to encourage more users to channel into Web3.
Pop works in a similar philosophy. It sees the growing potential of Web3 and understands that not everyone is trained to leverage this space. Therefore, Pop is building its ecosystem to mirror that of Near Protocol's approach. We are building a platform that leverages all that Web3 has to offer by simplifying access to the Web3 gateway for the masses. Pop NFTs will bring use cases for its users that will help them avoid all the troubles of the traditional web. This includes perks such as Proof-of-Ownership, data security, true anonymity, security, governance, and much more.
Web3 has much to offer and Pop is simplifying the process by clearing a path for creators to practice creator economy and earn in return for the value they bring. This is why it is an important choice for Pop to launch on a blockchain that can help deliver the ultimate blockchain experience. It must bring simplicity, security, scalability, and decentralization whilst also offering interoperability. So, on what blockchain do you think Pop should make its debut?
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