Types of Blockchains: Public, Private, Consortium

 Types of Blockchains

Blockchains are categorized into three main types based on who can access them and who controls them:


1. Public Blockchain

What it is:

A public blockchain is open to everyone. Anyone can read, write, and participate in the network.


Key Features:


Open to all (no permission needed)


Fully decentralized


Transparent and secure


Anyone can join and verify transactions


Examples:


Bitcoin


Ethereum


Use Cases:


Cryptocurrencies


Decentralized applications (dApps)


Public records


Pros:


High security


Transparent


No central authority


Cons:


Slower performance


High energy usage (depending on the system)


Less privacy


2. Private Blockchain

What it is:

A private blockchain is restricted to a specific group. Only selected people or organizations can access it.


Key Features:


Controlled by one organization


Only invited users can participate


Faster and more efficient


More privacy and confidentiality


Examples:


Hyperledger Fabric


R3 Corda


Use Cases:


Internal company operations


Supply chain tracking


Finance and healthcare


Pros:


Fast transactions


More privacy


Controlled access


Cons:


Centralized (less trustless)


Limited transparency


Users must trust the owner


3. Consortium Blockchain (Federated Blockchain)

What it is:

A consortium blockchain is controlled by a group of organizations. It is partially decentralized.


Key Features:


Shared control among selected members


Permissioned (not open to the public)


Balanced performance and security


Good for collaboration between businesses


Examples:


Quorum (developed by JPMorgan)


Energy Web Foundation


Use Cases:


Banking and finance networks


Trade and logistics


Joint business projects


Pros:


More trust than a private blockchain


Better performance than public blockchains


Good for industries needing cooperation


Cons:


Governance can be complex


Still not fully transparent


Summary Table:

Type Access Control Transparency Speed Example Use Case

Public Open to anyone No single controller High Lower Cryptocurrencies

Private Restricted One organization Low High Internal company systems

Consortium Restricted Group of organizations Medium Medium Business collaborations

Read More

Types of Blockchains: Public, Private, Consortium

Difference Between Blockchain and Bitcoin

What Is Blockchain? A Beginner’s Guide

What Is Blockchain? A Beginner’s Guide

History of Blockchain: From Bitcoin to Now


Comments

Post a Comment

Popular posts from this blog

Understanding Snowflake Editions: Standard, Enterprise, Business Critical

Understanding Snowflake Editions: Standard, Enterprise, Business Critical Snowflake offers several service editions to meet different business needs. These editions provide increasing levels of features, security, and compliance, depending on your organization's size, industry, and regulatory requirements. 1. Standard Edition Best for: Small to mid-sized teams or businesses that need core data warehousing features without advanced compliance needs. Key Features: Fully managed, cloud-native data platform Support for structured and semi-structured data Virtual warehouses for compute scaling Time Travel (1 day) – lets you query past versions of data Secure data sharing between Snowflake accounts Basic security with role-based access control Use Case Example: Startups or small companies analyzing business data without strict data compliance needs. 2. Enterprise Edition Best for: Organizations that need more control, scalability, and longer data retention. Includes everything in Standar...
Read more

Installing Tosca: Step-by-Step Guide for Beginners

🧪 Installing Tosca: Step-by-Step Guide for Beginners Tosca by Tricentis is a popular test automation tool used for end-to-end functional testing across various technologies like web, desktop, APIs, and more. Whether you're new to Tosca or setting it up for a QA team, this beginner-friendly guide walks you through the installation process step by step. ✅ System Requirements Before installation, make sure your system meets the minimum requirements: 🖥️ Hardware: CPU: Dual-core or higher RAM: Minimum 8 GB (16 GB recommended) Disk: 5+ GB of free space 💻 Software: OS: Windows 10 or 11 (64-bit) .NET Framework: 4.8 or later Microsoft SQL Server (for shared workspace, optional) Admin rights to install software 🔽 Step 1: Download Tosca Go to the official Tricentis Support Portal Create an account or log in. Navigate to Downloads > Tosca Testsuite Choose the latest stable version. Download the Tosca Installer (.exe) file. 🔐 You may need a valid Tricentis license or evaluation request ...
Read more

Entry-Level Cybersecurity Jobs You Can Apply For Today

🔐 Entry-Level Cybersecurity Jobs in Hyderabad 1. Cyber Security Analyst – L1 Company: Wipro Limited Location: Hyderabad Salary: ₹4–6 LPA Description: Assist with internal and external audits related to information security, maintain an information security risk register, and support security operations. Source:  Glassdoor 2. Security Analyst L1 Company: UltraViolet Cyber Location: Hyderabad Salary: ₹3–4 LPA Description: Identify and triage potential security incidents based on established procedures and playbooks; familiarity with security tools is beneficial. Source:  Glassdoor 3. Associate Information Security Analyst Company: NTT DATA Location: Hyderabad Experience: Entry-level Description: Handle security incidents end-to-end, work with various security technologies, and contribute to the development of security policies. Source:  Indeed 4. Cyber Security Analyst Company: Datametrics Software Systems Location: Hyderabad Salary: ₹4–6 LPA Description: Ensure security a...
Read more