Public blockchains (or "permissionless" chains) are decentralized networks where anyone can read, send transactions, and participate in consensus without authorization. Below we analyze the three dominant public chains and leading exchange-developed chains shaping Web3.
The Big Three: BTC, ETH, and EOS
1. Bitcoin (BTC) - Blockchain 1.0 Pioneer
As the first blockchain launched in 2009, Bitcoin introduced:
- Peer-to-peer digital cash system
- Immutable proof-of-work (PoW) consensus
- Decentralized store of value ("digital gold")
- Market dominance despite scalability limits
👉 Why Bitcoin remains the king of crypto
2. Ethereum (ETH) - Blockchain 2.0 Innovator
Ethereum expanded blockchain's utility by:
- Introducing smart contract functionality
- Hosting decentralized apps (dApps)
- Transitioning to proof-of-stake (PoS) via The Merge
- Becoming the foundation for DeFi and NFTs
3. EOS - Blockchain 3.0 Contender
EOS improved upon predecessors with:
- Enterprise-grade throughput (1,000+ TPS)
- Delegated proof-of-stake (DPoS) efficiency
- Developer-friendly account systems
- Fee-less transactions (resource-based model)
Top Exchange-Built Public Chains
Huobi Chain (HT)
- Financial-focused regulatory compliance features
- HT token as native gas and governance asset
- Supports CBDCs and institutional adoption
Binance Chain (BNB)
- Optimized for Binance DEX and BEP-20 tokens
- Ultra-fast settlement (1s block times)
- Cross-chain interoperability via BNB Bridge
OKEx Chain (OKB)
- Cosmos SDK-based architecture
- High scalability for DeFi protocols
- OKB powers ecosystem transactions
👉 Comparing exchange chains for developers
Key Blockchain Applications
| Category | Use Cases | Example Projects |
|---|---|---|
| Digital Assets | BTC, ETH, Stablecoins | Bitcoin, USDC |
| DeFi | Lending, DEXs, Yield | Uniswap, Aave |
| NFTs | Art, Gaming, IP | Bored Apes, STEPN |
| Web3 | DAOs, Storage, Identity | Filecoin, ENS |
FAQ
Q: What makes public blockchains different from private ones?
A: Public chains are fully decentralized with open participation, while private chains restrict validators to approved entities (typically enterprises).
Q: Which chain is best for building dApps?
A: Ethereum dominates dApp development, though alternatives like Solana and Polygon offer lower fees.
Q: Are exchange chains truly decentralized?
A: While improving, exchange chains often retain some centralized control points for regulatory compliance.
Q: What's the future of blockchain scalability?
A: Layer 2 solutions (Rollups, Sidechains) and sharding aim to overcome the "blockchain trilemma" of security/scalability/decentralization.