Do you want to learn about more blockchain platforms? Read this article for better understanding.
To understand which blockchain platform to use, one must first know the different types of blockchains available out there.
In a public blockchain:
(1) Anyone can download the code and start running a public node on their local device, validating transactions in the Blockchain network and participating in the consensus process of the Blockchain.
(2) Anyone can transact in the Blockchain network and it should go through as long as they are valid.
Most public Blockchain protocols uses Proof-of-Work or Proof-of-Work algorithms and among the examples of Public Blockchain includes Bitcoin, Ethereum, Monero, Dash, Litecoin, etc.
Conversely in a private Blockchain, permission to write on the blockchain is kept internally/centralized in one organization. Read permissions may be public or restricted depending on the requirements.
Among the applications of this includes database management, auditing and etc. These are are internal process of a company, and so public readability may be undesirable. Private Blockchains companies to take advantage of the blockchain technology and apply it to the company’s transaction verification process etc.Furthermore, private blockchains may scale better and comply better with governmental data security and privacy regulations. Thus, Private Blockchain.
Remember, Blockchain is still in its infancy stages and hence it is rather unclear how the Blockchain technology will be adopted. Among the examples of private Blockchains include MONAX and Multichain.