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Title: Two types Blockchain Post by: Theoboy on December 21, 2020, 11:31:27 AM We have been making use of the Block chain and I know that some of us doesn't know that there are of two types
1. Private Blockchain 2. Public Blockchain I did some research to find out this and that our crypto transaction makes use of the public Blockchain Source: 1. https://www.google.com/url?q=https://www.bitcoinsuisse.com/outlook/why-public-blockchains-are-the-future&sa=U&ved=2ahUKEwiQ9qfQ-97tAhUP-aQKHb9wBqgQFjAVegQIBBAB&usg=AOvVaw3BYaNQEmRJTv68TIxE1Nwu 2. https://www.intheblack.com/articles/2018/09/05/difference-between-private-public-blockchain Title: Re: Two types Blockchain Post by: webtricks on December 21, 2020, 12:08:58 PM Private Blockchain is not a blockchain, it's a rip-off version which is being sold by consultancy firms to the big corporate houses and conglomerate to make higher profits! All they do is create a database, give access to the divisions to add data, every division maintains its own copy of database, that's all!
There are no consensus rules, no open-source code, only single party access to data verification and addition to the blockchain, no large computing power to secure data addition, etc.. Consultancy firms are selling the normal database management system with little tweak with above features at higher price and enchashing the buzzword - "blockchain". There is only one true blockchain utility and it's in cryptocurrencies. |