Do you know there are different types of blockchain, each with its own unique features and characteristics. Here are some of the most common types:
1) Public blockchain: This type of blockchain is open to anyone and everyone can participate in the network. Bitcoin and Ethereum are examples of public blockchains.
2) Hybrid blockchain: A hybrid blockchain combines elements of both public and private blockchains. In a hybrid blockchain, some parts of the network are public, while others are private.
3) Private blockchain: Private blockchains are operated by a single entity or organization, and access to the blockchain is restricted to authorized users. They are often used for internal business operations and can be used to streamline processes and reduce costs.
4) Consortium blockchain: A consortium blockchain is similar to a private blockchain, but it is operated by multiple organizations rather than a single entity. The organizations involved in the consortium work together to validate transactions and maintain the blockchain.
Key Differences:
Permissionless: open & decentralized.
permissionless prioritizes transparency.
Permissioned: closed & controlled.
Permissioned prioritizes security,
These are just a few examples, and there are many other types of blockchain that exist or are being developed.
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