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Blockchain Network Types
Anyone can read or write a transaction on the network or participate in the consensus process. They are considered "Unauthorized". Every transaction is carried out in the public network with the confidentiality of encrypted data which helps the user to remain pseudonymous.
Private Blockchain is run and controlled by a single entity that determines who can read, write and participate in the consensus process. Because they are 100% centralized, private blockchains are useful for sandbox environments, not for production.
This network is run by a single company that provides access to any user who meets a predetermined criterion. While not truly decentralized, this solution is attractive for business-to-business use cases and government applications.
In a consortium blockchain, the consensus process is handled by a group of people. The right to read and write can be public or limited to one participant. Consortium blockchains are considered "permissive blockchains" and are best suited for organizations and businesses.
The consensus mechanism is a fault-tolerant mechanism used in computer and blockchain systems to achieve the necessary agreement on a single data value or a single network state between distributed transactions such as cryptocurrencies or multi-agent systems.
Last modified 7mo ago