As long as everyone can understand public chains, they will basically understand Web3. Although there are hundreds of public chains on the surface, there are actually less than 200 that are truly active. If we consider core indicators such as TVL protocol quantity and token market value together, the top ten public chains can account for over 70% of the total public chain share. Therefore, as long as one can grasp these top public chains, they will essentially understand what public chains are all about.
We can take the top 12 public chains by TVL as examples to illustrate their specific differences. First, let's look at the top three public chains: Bitcoin, Ethereum, and Solana, which represent the three major types of public chains today. First is the Bitcoin system, represented by Bitcoin, mainly used for value storage, with limited smart contract capabilities. The second is the EVM-compatible chain, represented by Ethereum. All chains in the Ethereum family can run the same set of smart contracts and are the core of the entire DeFi ecosystem. The top 12 in this category include Ethereum's BN Smart Chain, as well as Tron and base ARB HyperLiquid Avalanche Linea Polygon, making a total of 9 positions. Lastly, the non-EVM category, represented by Solana, which adopts a completely different architecture and language, is fast but has an independent ecosystem requiring separate wallets and tools. In this category, there is also Sui among the top 12. Thus, from these three chains, we can see that although there are hundreds of public chains, they can basically be categorized into these three types (you can think of it as the Bitcoin system being like Apple's system on a phone, Ethereum being like Android on a phone, and Solana being like other systems on a phone). To insert a knowledge point, what is EVM? EVM is Ethereum's virtual machine; you can think of it as the operating system of the blockchain, capable of running smart contracts and allowing applications to operate on-chain. If a chain is compatible with EVM, it means it can directly use Ethereum's code and tools. First, developers do not need to rewrite the code, and users can use one wallet, such as Metamask, to access all protocols on EVM chains. Additionally, the entire ecosystem can quickly connect to Ethereum's resources, which is why many chains emphasize their compatibility with EVM. So, how does understanding these classifications of public chains help us? First, it can help us identify the chain to which a token belongs. For example, if you are given a token's contract address, you can roughly determine which chain it was issued on. For instance, EVM chain addresses start with 0X, while Tron addresses start with T, and Solana addresses are a random combination of 32-44 alphanumeric characters. Bitcoin addresses typically start with 1, 3, or BC1. By recognizing these formats, we can quickly identify which chain they belong to. Secondly, it informs us which wallets to use. Different chains require different wallets. For EVM chains, a common wallet like Metamask will suffice, while Solana and Sui each require their own dedicated wallets. Thirdly, when your funds need to cross chains, you need to know that cross-chain transactions between EVM chains are relatively easy due to the abundance of bridges and greater liquidity. However, if you want to cross from an EVM chain to a non-EVM chain, such as from Ethereum to Solana, it will rely on special cross-chain bridges, which are not only more difficult but also carry higher risks. Fourth: evaluating projects becomes more informed. We need to know that the EVM ecosystem is relatively mature, with many projects and well-developed tools, leading to higher safety. Non-EVM chains, while presenting significant opportunities and possibilities, also have a higher failure rate. Therefore, being able to differentiate public chain types means not only understanding a concept but also being able to avoid many pitfalls in operation and investment.
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