How Many Types Of Blockchain

How Many Types Of Blockchain

Blockchain Networks

A blockchain network can be built in a variety of ways. They can be public, private, permissioned or constructed by a group of people called consortium.

Types of blockchain networks

Blockchain has been around for a while now. And while there are many enthusiasts who try to make a career in the field, only a few make it to a full-time role. Why? Because while many might grab some fundamental knowledge and start their journey, they lack a recognizable and one of the top blockchain certification training which is accredited by industry professionals under their name.blockchain technology can be classified into 3 categories,

blockchain

There are three types of blockchain

Public Blockchain

So our first blockchain is the public blockchain. This blockchain originated cryptocurrencies like bitcoin and helped to popularize DLT - (distributed ledger technology).

Public Blockchain is a non-restrictive and permission less blockchain, which can be easily used by any user, any person connected to the Internet can complete their transactions using this platform.

Public blockchain is a fully decentralized platform that allows all types of users to join If we talk about its use cases, then in the present time public blockchain is used for the transaction and mining of crypto currency.

Ex: Bitcoin and Ethereum.

Private Blockchain

Private Blockchain or Permission Blockchain Institution is fully allowed who can and who cannot access this Blockchain. It remains a fully secured network. Only those users of the data network of this Blockchain can access those who have its permission.

Each of its nodes is controlled by the central authority and can decide which nodes it will install. Private Blockchains are only partially decentralized and access to this blockchain as a public is restricted.

Ex.:1-orcal blockchain is a private blockchain.
2- Ripple and Hyperledger also come in this.


Consortium Blockchain

Consortium Blockchain Also known as federated blockchain, consortium blockchain is primarily a combination of public blockchain and private blockchain where multiple organizational groups come together to share a decentralized network such a single entity.

Here the central control rests with an organizational group rather than a single one, so that it is secure, being more decentralized in comparison to private blockchains.

The process of Consortium Blockchain Network is quite complex as it requires mutual co-operation and transparency of all the organizations which is important to deal with the logistical challenges and risks.

Ex.: Hyperledger

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