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What are the different types of blockchains?

Naveen Kumar
Member Admin
Joined: 7 months ago
Posts: 10
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Blockchains are an emerging technology that has the potential to change the way we do business, share data and keep records.

There are three types of blockchains that can be used for various purposes: Public, Private and Consortium.

Public Blockchains:

  • Public blockchains allow anyone to join, read and write data. It is open to all participants in the network, with no permission required.
  • The public blockchain is a shared database that can be accessed by anyone with an internet connection.
  • Anyone can download a copy of the blockchain onto their computer or device and become part of the network as a node (computer). This allows them to read and write data on the blockchain too.

Private Blockchains:

  • A private blockchain is not open to everyone
  • Only a select number of parties are allowed to join.

  • Private blockchains can only be accessed by the owners of that blockchain and their permissioned users.

  • Private blockchains do not have the same data transparency that public blockchains offer.