Private or public blockchain?
When hearing the term blockchain, the default assumption is often a public blockchain. The cryptocurrencies that are currently much in the news all use a public blockchain. Therefore, this seems to be the obvious choice when implementing a blockchain. However, in addition to a public blockchain, there is also the possibility of using a private blockchain. In short: do you use a private or public blockchain? The differences and similarities are described below.
Similarities
Before we start looking at the differences there are a number of similarities:
– Both are decentralized peer-to-peer networks in which each participant has a replica of the shared general ledger including digitally drawn transactions;
– Both hold the replicas in sync through a consensus protocol;
– Both give a certain degree of certainty about the immutability of the general ledger.
Differences
But what are the differences between a private and a public blockchain? The main differences are who can participate in the network, who can implement the consensus protocol and who can keep the general ledger. A public chain is completely open and anyone can become a member of the network. Some networks have an incentive mechanism to encourage participants to participate in the network. Bitcoin is one of the largest public networks today.
A disadvantage of a public chain is that a substantial amount of computer power is needed to be able to keep the distributed general ledger on a large scale (several solutions are now being devised to reduce this burden). Sometimes the openness of the public chain, which means that there is not the privacy of transactions at every level, is also undesirable. Both cases are important considerations for companies when applying a blockchain.
Implementation possibilities
When using a private blockchain within an organization, there are different implementation possibilities. The procedure for the admission of nodes within a private blockchain differs from that for a public solution. The consensus model also works in a different way. Before a private solution can be implemented within an organization, it is, therefore, important to have these choices clear and to define the route to be determined. In a next blog, I will discuss the choices and related considerations in more detail.
Contact us for more information about the private of public blockchain.
Your article helped me a lot, is there any more related content? Thanks!
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.com/ru/register?ref=B4EPR6J0
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Apoiar ferramentas de apostas e estar equipado com uma plataforma diversificada de transações financeiras, a 20Bet oferece suporte tangível aos jogadores. Este é um lugar onde eles podem apostar com dinheiro real, respaldados por concorrentes de diversas disciplinas esportivas. 20bet
Your point of view caught my eye and was very interesting. Thanks. I have a question for you. https://accounts.binance.com/it/register-person?ref=OMM3XK51
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.com/pt-BR/join?ref=PORL8W0Z
Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://accounts.binance.com/cs/register-person?ref=PORL8W0Z
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Your article helped me a lot, is there any more related content? Thanks!
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Ponto IPTV a melhor programacao de canais IPTV do Brasil, filmes, series, futebol
My website: частное порно
As a Newbie, I am continuously exploring online for articles that can be of assistance to me.
My website: chastnoeporno.top
What would be a good way to start a creative writing essay?
Computer question (How long does an average person keep a computer for?
Your article helped me a lot, is there any more related content? Thanks!
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.com/pt-BR/join?ref=YY80CKRN
Com tanto conteúdo e artigos, alguma vez se deparou com problemas de plágio ou violação de direitos de autor? O meu site tem muito conteúdo exclusivo que eu próprio criei ou
It contains fastidious material.|I think the admin of this website is actually working hard in favor of his site,
webside er virkelig bemærkelsesværdig for folks oplevelse, godt,
apreciariam o seu conteúdo. Por favor, me avise.
Também tenho o seu livro marcado para ver coisas novas no seu blog.
Conhecem algum método para ajudar a evitar que o conteúdo seja roubado? Agradecia imenso.
) سأعيد زيارتها مرة أخرى لأنني قمت بوضع علامة كتاب عليها. المال والحرية هي أفضل طريقة للتغيير، أتمنى أن تكون غنيًا و
) Jeg vil besøge igen, da jeg har bogmærket det. Penge og frihed er den bedste måde at ændre sig på, må du være rig og
reading this weblog’s post to be updated daily.
Fiquei muito feliz em descobrir este site. Preciso de agradecer pelo vosso tempo
fortsæt med at guide andre. Jeg var meget glad for at afdække dette websted. Jeg er nødt til at takke dig for din tid
webové stránky jsou opravdu pozoruhodné pro lidi zkušenosti, dobře,
que eu mesmo criei ou terceirizei, mas parece que
الاستمرار في توجيه الآخرين.|Ahoj, věřím, že je to vynikající blog. Narazil jsem na něj;
værdsætter dit indhold. Lad mig venligst vide det.
fortsæt det gode arbejde stipendiater. Med at have så meget indhold og artikler gør du det
at web, except I know I am getting familiarity all the time by reading thes pleasant posts.|Fantastic post. I will also be handling some of these problems.|Hello, I think this is a great blog. I happened onto it;) I have bookmarked it and will check it out again. The best way to change is via wealth and independence. May you prosper and never stop mentoring others.|I was overjoyed to find this website. I must express my gratitude for your time because this was an amazing read! I thoroughly enjoyed reading it, and I’ve bookmarked your blog so I can check out fresh content in the future.|Hi there! If I shared your blog with my Facebook group, would that be okay? I believe there are a lot of people who would truly value your article.|منشور رائع. سأتعامل مع بعض هذه|
|Tato stránka má rozhodně všechny informace, které jsem o tomto tématu chtěl a nevěděl jsem, koho se zeptat.|Dobrý den! Tohle je můj 1. komentář tady, takže jsem chtěl jen dát rychlý
det. Denne side har bestemt alle de oplysninger, jeg ønskede om dette emne, og vidste ikke, hvem jeg skulle spørge. Dette er min 1. kommentar her, så jeg ville bare give en hurtig
díky tomuto nádhernému čtení! Rozhodně se mi líbil každý kousek z toho a já