Public Blockchain Examples: Bitcoin, Ethereum, and More

When people talk about blockchain, they’re usually thinking about Bitcoin or Ethereum. But what makes these networks different? And why do so many developers, investors, and everyday users care about them? The answer lies in how public blockchains work - and what they’re actually used for today.

What Is a Public Blockchain?

A public blockchain is a decentralized ledger that anyone can join, view, and contribute to. No company or government controls it. Instead, thousands of computers around the world keep the system running. Every transaction is recorded permanently and can’t be erased. That’s the core idea behind Bitcoin and Ethereum.

Unlike private blockchains, which are restricted to select users, public ones are open. You don’t need permission to send Bitcoin or interact with a smart contract on Ethereum. You just need a wallet and an internet connection.

This openness is what makes them powerful - and also what makes them slow, expensive, or complex at times. Understanding the trade-offs helps you figure out which one fits your needs.

Bitcoin: Digital Gold, Not a Platform

Bitcoin was the first public blockchain. It launched on January 3, 2009, with a single block mined by Satoshi Nakamoto. Its purpose? To be money - digital cash that doesn’t need banks.

Today, Bitcoin still serves that role. It’s not built for apps or complex logic. It’s built to store value. That’s why people call it “digital gold.”

Here’s how it works:

• Blocks are added every 10 minutes.
• It handles 4-7 transactions per second.
• Transaction fees average $1.20 (as of Q3 2023).
• It uses SHA-256 mining, which requires massive amounts of electricity - over 200 exahashes per second.
• Miners get 6.25 BTC per block, but that drops to 3.125 BTC after the next halving in April 2024.

Bitcoin’s network is the most decentralized in the world. Over 15,000 full nodes run across more than 100 countries. That means no single group can take it down. To hack it, you’d need to control over half the network’s computing power - a task estimated to cost $14.5 billion.

Most Bitcoin users aren’t trading daily. According to Glassnode, 62.3% of Bitcoin addresses haven’t moved coins in over a year. People buy it, hold it, and treat it like savings. That’s why companies like MicroStrategy and Tesla hold billions in Bitcoin on their balance sheets.

Ethereum: The World’s Computer

Ethereum isn’t just money. It’s a programmable blockchain. Launched in July 2015, it lets developers build apps that run without servers. These are called decentralized applications, or dapps.

Think of Ethereum as a global computer. Instead of Amazon Web Services, you’re using code - called smart contracts - that runs on thousands of machines. These contracts automatically execute when conditions are met. For example: “Pay me $1,000 when the flight lands on time.”

Here’s what sets Ethereum apart:

• Blocks are added every 12 seconds.
• It handles 15-30 transactions per second.
• Transaction fees average $3.50 - but can spike to $180 during busy times.
• It switched from mining to staking in September 2022 (called “The Merge”).
• Validators must stake 32 ETH (about $51,200 at $1,600/ETH) to participate.

After The Merge, Ethereum’s energy use dropped by 99.95%. That was huge. It turned the network from an energy hog into something much more sustainable.

Ethereum powers:

• Decentralized finance (DeFi): $72.3 billion locked in lending, trading, and savings apps as of October 2023.
• NFTs: $23.4 billion in cumulative trading volume.
• Over 4,000 dapps and 50 million smart contracts.

Unlike Bitcoin users, Ethereum users are active. DappRadar found 1.8 million daily active wallets on Ethereum versus 850,000 on Bitcoin. People aren’t just holding - they’re swapping tokens, playing games, and using DeFi tools.

Other Public Blockchains You Should Know

Bitcoin and Ethereum are the big two, but they’re not the only ones. Other public blockchains are trying to solve different problems.

Cardano launched in 2017. It uses a proof-of-stake system called Ouroboros. It’s slower than Ethereum (10-second blocks) but focuses on peer-reviewed research and long-term stability. It has over 2,000 nodes and is popular in developing countries for identity and land registry projects.

Solana is all about speed. It claims to handle 65,000 transactions per second using a unique system called proof-of-history. But it’s had six major outages in 2022. Speed comes with risk. If the network goes down, your app goes down too.

Polkadot lets different blockchains talk to each other. It’s not a single chain - it’s a network of chains. That’s useful for institutions that want to connect private and public ledgers.

Each of these networks makes trade-offs. You can’t have maximum speed, security, and decentralization all at once. That’s called the blockchain trilemma. Bitcoin picks security and decentralization. Ethereum picks functionality. Solana picks speed - and sometimes sacrifices reliability.

Who Uses These Blockchains - And Why?

The people using Bitcoin and Ethereum are very different.

On Reddit’s r/Bitcoin, users talk about price, long-term holding, and “digital gold.” A top post from October 2023 asked, “Just bought my first 0.01 BTC as long-term savings - am I crazy?” It got over 2,000 upvotes. People see Bitcoin as insurance against inflation.

On r/ethereum, the conversation is technical. Threads like “Best resources for learning Solidity in 2023?” get thousands of views. Developers are building the next wave of apps. They’re not just speculating - they’re coding.

On Trustpilot, Coinbase users praise Bitcoin for being simple and secure. Ethereum users complain about gas fees. One user wrote: “I tried to send ETH to a DeFi app and got charged $40 just to confirm a trade. That’s insane.”

That’s the real difference. Bitcoin is for storing value. Ethereum is for doing things - trading, lending, gaming, voting, even running a business.

What’s Next for Bitcoin and Ethereum?

Both networks are evolving.

Bitcoin’s upcoming Taproot Assets protocol (coming in Q1 2024) will let users issue tokens on the Bitcoin network - like NFTs or loyalty points - without touching Ethereum. It’s a quiet upgrade that could make Bitcoin more useful without changing its core design.

Ethereum’s Dencun upgrade (also Q1 2024) will cut Layer-2 transaction costs by 90%. Right now, 73% of Ethereum transactions happen on Layer-2 networks like Arbitrum and Optimism. These are faster, cheaper sidechains that still connect back to Ethereum’s security. Dencun will make them even better.

Meanwhile, regulators are paying attention. The EU’s MiCA law (effective December 2024) treats Bitcoin as a “virtual asset” and Ethereum as a “utility token.” In the U.S., the SEC is still debating whether Ethereum is a security. Gary Gensler, the SEC chair, has said many tokens beyond Bitcoin likely meet the legal definition of a security.

That’s a big deal. If Ethereum is classified as a security, exchanges might have to change how they list it. That could slow adoption - or force innovation.

Which One Should You Care About?

If you want to save money and protect against inflation - Bitcoin is your best bet. It’s simple, secure, and widely accepted.

If you want to use apps that run without companies controlling them - Ethereum is where the action is. DeFi, NFTs, DAOs, gaming - they’re all on Ethereum.

Neither is perfect. Bitcoin is too slow for daily payments. Ethereum is too expensive during spikes. But together, they cover the two biggest uses of blockchain: storing value and running code.

Forget the hype. Focus on what you need. Are you buying a digital asset to hold for years? Go Bitcoin. Are you interacting with apps, swapping tokens, or building something? Go Ethereum.

The future of public blockchains isn’t about one winner. It’s about specialization. Bitcoin for money. Ethereum for apps. Others for speed, privacy, or niche uses. You don’t need to pick one. You just need to know what each one does well.