ℹ️Introduction

Since the Bitcoin genesis block was issued in January 2009, the world has continuously succeeded and developed this new type of distributed source system. Since then, many blockchains have been developed and are being used in various areas. This whitepaper does not intend to cover the history of blockchain. However, it will briefly inform how the proof method works in the blockchain’s operation method and what kind of rewards are made, and talk about the new blockchain development.

There are two main types of blockchain. The first is called Private Blockchain, which operates limited nodes. This method has the advantage of enabling smooth blockchain node operation despite some security issues. Also, a foundation that manages the Private Blockchain has the advantage of operating distributed ledger technology without data disclosure. The second is Public Blockchain. Public Blockchain has the advantage of resolving security vulnerabilities because it’s impossible to tamper with data after hacking. However, voluntary participation must precede node operation for the Public Blockchain, but many problems may arise in system operation if the value of the Public Blockchain is insufficient.

s many people already know, blockchain node participants receive rewards from the blockchain according to their contribution to block generation; this is the description of the coin that we know well. Node participants must perform a consensus protocol to run the blockchain to receive coins; this is called mining.

Anyone who wants to participate in mining in the public blockchain can participate through the public blockchain core operation. The commonly known mining operation becomes the process of participating in the mining of the public blockchain. However, there are restrictions on participating in mining in the case of private blockchain. The biggest disadvantage of the private blockchain is that the actual private blockchain is not perfect decentralization by restricting node participation. However, like the public blockchain, the private blockchain is a method where the mainnet is operated through node operation for block generation.