Types of blockchains

There are various types of blockchains, each catering to different use cases and requirements. Here are three primary types:

  1. Public Blockchains:

    • Permissionless: Anyone can join, participate, and validate transactions.
    • Decentralized: No central authority controls the network.
    • Examples: Bitcoin (for currency), Ethereum (for smart contracts).
  2. Private Blockchains:

    • Permissioned: Participants are restricted, typically requiring approval to join.
    • Centralized or Consortium: Controlled by a single entity or a group of known, trusted participants.
    • Examples: Hyperledger Fabric, R3 Corda.
  3. Consortium Blockchains:

    • Hybrid: Combines elements of both public and private blockchains.
    • Shared Control: A group of organizations collaboratively manages the network.
    • Examples: Quorum, developed by JPMorgan Chase, or B3i for insurance.

These classifications highlight the spectrum of blockchain architectures, offering different levels of decentralization, security, and control. The choice of blockchain type depends on the specific requirements and goals of a given project or application.

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Good one. Public Blockchain is the future

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Nice writeup :writing_hand:

Educative thread

Well articulated