If you are an investor, especially a crypto investor, you might hear the word Blockchain. If you read the word Blockchain, let us tell you that the Public Blockchain does most transactions in the crypto world. Crypto investors use Public Blockchain because Investor data will be readily available to all. So, three more types of Blockchain are currently present, which we will discuss below.
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So as not to waste your busy time, I will start the article by explaining the meaning of Blockchain and its types.
For more information about the Blockchain, like the History of Blockchain, its benefits, its disadvantages, who founded Bitcoin, and some small things about Blocks, miners, and nodes, you can read our recent article.
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Understanding the Different Types of Blockchain
- Public Blockchain
Public blockchains are permissionless and allow all the nodes or users to enjoy all the equal rights on the platforms. In Public Blockchain, it doesn’t matter if you are a minor or professional; all can use this type of Blockchain.
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Currently, the public Blockchain is used to mine or exchange cryptocurrency. All the transactions placed in the Public Blockchain are transparent and secure. This means anyone on the Internet can make a Bitcoin transaction.
- Private Blockchain
The private Blockchain’s transaction data are not publicly available because they are only partially centralized. The names of both private and public blockchains are opposite by their names, but their performance activity is also opposite.
- Hybrid Blockchain
A Hybrid blockchain is a combination of Public and Private Blockchains. Individual Organizations can decide which part of the transaction is going Publically.
For Example, Dragonchain.
- Consortium Blockchain
In Consortium Blockchain, they are given the right to govern the. Therefore, the Blockchain has become more decentralized, increasing its security. First, you must find an organization you can trust in the Blockchain.
Narinder Sharma is a highly skilled Full Stack Developer with a deep passion for Web3 technology and blockchain innovations. With a strong background in Fintech API development, smart contracts, and decentralized applications (dApps), he is committed to building scalable and secure Web3 solutions. Narinder stays at the forefront of emerging tech trends, bridging the gap between traditional software development and the decentralized future.
🚀 Passionate about smart contract development, DeFi, NFTs, and Layer 2 scaling solutions.
📈 Dedicated to pushing the boundaries of Web3 adoption and blockchain infrastructure.