Blockchain by its nature is a continuous chain of blocks containing certain information, the main condition for the existence of which is that each new block must be linked to the previous one. The data itself cannot be tampered or altered. At the same time, there may be several types of blockchains combined by a number of factors.
These factors are:
- The presence of a permanent connection between the blocks that form the network
- Presence the full amount of information on each of the nodes, forming a given network
- The principle of consensus, or general consistency regarding information that will be added to the network.
Now let's take a closer look at the types of blockchain:
Public. This is the most common type, usually, it is the main one in most transactions. All information is available not only to network members, but also to other users. Anyone can become a part of the network, for example, through staking or mining. Transactions are not fast and the participants are anonymous.
Private. Representatives of large companies and businesses are frequently paying attention at the private blockchain. It has the same characteristics as the public blockchain - the immutability of the entered data, the general record and the presence of consensus between the participants, however, it consists of a limited number of nodes belonging to the same structure. Moreover, information about one participant is always available to another, which simplifies the monitoring of the activities of each individual node, and the functioning takes place according to its own internal rules, giving the rights to transfer data and view the transactions performed only by specific participants.
Consortium. Has the characteristics of both private and public blockchains. Its main principle is to independently determine who will be able to validate transactions. In an open blockchain, anyone can do this, in a closed one, only one can appoint a validator. Due to this, the principle of operation can vary depending on the situation.
Conclusion
It is impossible to determine which type of blockchain may be the highest priority or the best, since everything depends directly on the needs of the structure that is going to use it. At the current moment, the most widespread is the public one, but it is before we reach the moment of full implementation of the blockchain by large corporations.
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