Types of Blockchain — Public, Private,

and Consortium Blockchain

blockchainexpert.uk
 INTRODUCTION
I think there is no more introduction needed for the term Blockchain, as the distributed ledger
technology has already made its footprint in all major industries be it the government, trade, medical,
education or real estate. The Blockchain has significantly showcased its extensiveness in laying solutions
to the critical market problems like security, transparency, accountability, time consumption, cost and
more. Every industry has witnessed the big play of blockchain in improving the efficiency and
effectiveness of the industry function.

This blog brush off different types of blockchain and its implications in varied businesses. There exist
different types of blockchain but let us focus on the three major types.

There are mainly three types of Blockchain:

a) Public Blockchain

b) Private Blockchain

c) Consortium or Federated Blockchain

To start with, let me introduce you to the first type of blockchain The Public Blockchain.

As the name defines, public blockchain is open to the public. It has no access restrictions and anybody
powered with internet can conduct their transactions and perform their validations (execution of
consensus protocol). Under public blockchain, no single authority is authorized to perform the action.
Anybody can indulge in reading, writing or auditing within public blockchain. The public blockchain
remains open to mass giving full vicinity of actions undertaken within.
So it’s obvious to question the credibility of a public blockchain. A question can come into your mind,
how liable this kind of public blockchain is if no one is authorized or made in charge. How decisions are
made? Questions pondering into someone’s mind is endless and the answer lies within the public
blockchain.
Any decision making under public blockchain is executed through decentralized consensus mechanisms
like proof of work (POW) and proof of stake (POS). There exist several living examples for public
blockchain. The list includes Bitcoin, Ethereum, Monero, Dash, Litecoin, etc. Bitcoin technology
introduced the concept blockchain among the tech community.
 Interesting, right?
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