In this post, we will discuss Blockchain types. We all know that Blockchain is a chain of records stored in the forms of blocks which are controlled by no single authority. Blockchain also supports different services cryptocurrency wallets supporting Bitcoin, Bitcoin Cash, and Ethereum, etc.
Types of blockchain
1. Public Blockchain
A public blockchain is a non-restrictive, permission-less distributed ledger system. The most common public blockchains examples are Bitcoin and Litecoin blockchains.
2. Private Blockchain
A private blockchain is a restrictive or permission blockchain operative only in a closed network. Private blockchain networks are deployed for voting, supply chain management, digital identity, asset ownership, etc.
Examples of private blockchains are; Multichain and Hyperledger projects (Fabric, Sawtooth), Corda, etc.
3. Consortium Blockchain
A consortium blockchain is a semi-decentralized type where more than one organization manages a blockchain network.
Examples of consortium blockchain are; Energy Web Foundation, R3, etc.
4. Hybrid Blockchain
A hybrid blockchain is a combination of the private and public blockchain. The hybrid system of blockchain is flexible so that users can easily join a private blockchain with multiple public blockchains.
Example of a hybrid blockchain is Dragonchain.
I hope this post is very helpful to find the types of blockchain technology. If you need to blockchain development services you can contact us. Thank you !!!