The public chain refers to the blockchain that anyone in the world can access the system to read data, send identifiable transactions, and compete for accounting at any time. Public chains are often considered "completely decentralized" because no individual or institution can control or tamper with the reading and writing of data.
The public chain generally encourages participants to compete for accounting through the token mechanism to ensure data security. From the application point of view, the blockchain public chain includes Bitcoin, Ethereum, Superbook, most Altcoin and smart contracts. The ancestor of the blockchain public chain is the Bitcoin blockchain.
At present, most Ethereum projects rely on Ethereum as a public chain. Ethereum is a new and open blockchain platform that allows anyone to build and use decentralized applications running through blockchain technology. Ethereum is a programmable blockchain that allows users to create complex operations as they wish, and can serve as a platform for many types of decentralized blockchain applications.
The biggest problem facing the public chain is the contradiction between security and efficiency, that is, how to balance the degree of decentralization and high TPS. The most typical representatives are the dispute between Ethereum and EOS.