Blockchain is one of the most talk about technology now a days. If you are also starting with Blockchain , one of the question you may have different types of Blockchain available.
Types of Blockchain ?
In general, there are two types of Blockchain available as mentioned below.
- Public Blockchain also known as Permission-less Blockchain
- Private Blockchain also known as Permission-ed Blockchain
What is Public or Permission-less Blockchain ?
A public blockchain is permission-less blockchain. Anyone can effectively join the blockchain, meaning that they can read, write, or participate with a public blockchain. Public chains are decentralized, no one entity has control over the network, and they are secure in that the data can't be changed once validated on the blockchain.
Examples of Public Blockchain ?
Bitcoin and Ethereum.
What is Private or Permissioned Blockchain ?
A private blockchain is really a permissioned blockchain. Permissioned networks place restrictions on who is allowed to participate in the network and in what transactions.
Examples of Private/Permissioned Blockchain ?
What are benefits of Public Blockchain ?
There are following benefits of Public blockchain.
- This is open to everyone, anyone can join the network, view the transaction and perform various operations.
- This is really distributed and decentralized ledger.
- Maintain trust between the unknown parties.
- All nodes participate in transaction validation.
What are benefits of Private/Permissioned Blockchain ?
There are following benefits of Private/Permissioned blockchain.
- This maintain level of privacy as per the requirement as this is not open for everyone.
- Only trusted members can join and members are know to each other.
- This provide high performance as compared to public blockchain.
- This suits best for enterprise level where information is not for everyone.
- Different channel can be created between the parties as per the requirement.
- can integrate with existing systems.