Introduction to BlockChain and types || 10% payout to tron-fan-club

Introduction

BlockChain is now an household name that is gradually creeping into every sector of the world you can think of. While it is still being gradually embraced,it is important to me too that it has made life easy and stress-free,making data transparent and secure and immutable. My focus today is on the types of blockchain and not just the term. Let's take this ride together.

Public Blockchain

This is the foremost blockchain which is known for it decentralized nature and transparency. This type of blockchain is permissionless and doesn't restrict any one from signing up to be part of the blockchain activity. Once you have an internet access then you're good to go. On this type of blockchain,users can access all the information there is even from inception till date because record are transparent and can't be altered and very user here is an authorised node on signing up to join.
Big project such as Bitcoin uses this type of blockchain.

Private blockchain

This type of blockchain is the direct opposite of what we discussed earlier as regards public blockchain. A private blockchain is not a permissionless and non- restrictive kind of blockchain because it operate in a closed network that only few have access to and it is usually under the control or supervision of an entity or organization. Here only few node have access to data or information on the blockchain because everything is base on permission.The only similarity it has with a public blockchain is that it uses peer to peer connection but on a much more smaller scale fit for a little Enterprise or business. In short,you can call a private blockchain an Enterprise blockchain.

Hybrid blockchain

Hybrid blockchain is a mix of both the public and the private blockchain. You know both the private and the public chain have their unique feature and if one must enjoy both,you will need to opt in for the hybrid blockchain which is programmed to give you access to the feature available on both blockchain. In other word ,an organization can operate a permissioned and permissionless system which give both access and restriction to certain kind of information on the blockchain.
This type of blockchain can hide transaction details yet allows verification of transaction when necessary. Users identity are also protected until they come together to transact with one another. It's also important to note that this type of blockchain is not transparent.

Consortium blockchain

This type of blockchain is one that comprise of two or more organization coming together to operate on one decentralized network. This blockchain has the feature of an hybrid in that it has both the public and private feature. Access is only to a particular group or set of people and it also cuts of the idea one entity controlling the activity of the blockchain since they are groups with separate entity on the network. On this blockchain, preset node are used for consensus procedure.

Conclusion

BlockChain has really been a blessing to humanity. It is still being built on and it still going to see massive adoption in time to come. I hope you learnt a whole lot from this lesson.You can also take you time to DYOR and get more understanding of this lesson.

Regards:
@lhorgic♥️