How many type of BlockChain?
424
05-Apr-2021
Rahul Roi
05-Apr-2021These are mainly three types of Blockchains introduced to the world.
Public Blockchain
This is one such blockchain system that is
Here is no other in charge, which means anyone can read, write, and audit the blockchain. This is an open-source, distributed, and decentralizes public ledger so anyone can review anything on a public blockchain. Those are considered to be Permissionless blockchain.
Private Blockchain
Into the private blockchain system, it is a private property of an individual or an organization. This is controlled by a single organization that determines who can read it, submit the transaction to it, and who can participate in the agreement process. Those are considered to be permission blockchain.
Consortium Blockchain or Federated Blockchain
According to this blockchain, the harmony process is acquired by a pre-selected group, i.e., the group of organizations or representative individuals. Because of this, these already selected groups are now coming together and deciding for the best benefit of the entire network. So, such groups are also called consortiums or a federation that's why the name consortium or federated blockchain.