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Blockchain Write For Us
Blockchain refers to a database that is distributed or shared with computer networks. This database helps to store the data/information/details automatically in a digital setup. Blockchains play a vital role in cryptocurrency systems like Bitcoin. It maintains the security of recorded transactions.
The Blockchain guarantees the safety and devotion of data. Also, it creates trust and surety without any requirement of a third party. Typical databases and Blockchains are almost identical, but one main difference between them is designing of Data. Usually, a standard database designs data in its tables, while Blockchain designs data in blocks that are strung together.
Top 4 Different Types Of Blockchain
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Hybrid Blockchain
Many organizations use Hybrid Blockchains. In this, The features of both public and private blockchains are combined. Hybrid Blockchain allows enterprises to develop a permission-based system or remote system. In this, records and transactions are confidential and can be authorized by giving access through a smart contract. It is used in three different ways:
- Retail: This hybrid network helps retailers in their work.
- Real estate: These real-estate companies also use the hybrid network for their systems. They provide information to the public.
- Highly Controlled Markets: the hybrid network is a suitable blockchain for highly controlled market areas such as the banking sector.
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Public Blockchain
Public Blockchain is a distributed record in which everyone can conduct and join transactions. It is a permissionless and non-restrictive ledger in which anyone through the internet can access the public Blockchain. All the users can access an can check the records and transactions. They can recognize problems and give suggestions to fix them. No valid transactions can be altered because its source code is usually open. Public Blockchain is used in two different ways:
- Raising the Fund: All businesses use public Blockchain for advanced clarity and trust.
- Voting: A country’s government uses public Blockchain to vote, ensuring openness and trust.
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Private Blockchain
In a Private Blockchain, a restricted network gets operated in a private setting, or a single identity regulates it. It is a small decentralized network that runs in an organization. It is distributed to a public blockchain. It has two types of terms that are Business and permissioned blockchain. Private Blockchain is used in three different ways :
- Asset Ownership: This Blockchain is used to track or verify assets.
- Supply chain management: This Blockchain controls the company’s distributing chain.
- Internal Voting: It is also potential with private Blockchain.
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Consortium Blockchain
Consortium Blockchain is also known as Federated blockchain. It includes many organizational members working together on a distributed network. A consortium blockchain is a validator responsible for receiving, initiating, and validating transactions. These transactions can be obtained or formed by node members. These nodes regulate the agreement methods in consortium blockchain. It is used in three different ways:
- Research: This Blockchain has been employed to share research outcomes and data.
- Food Tracking: a consortium blockchain is also suitable for food tracking.
- Payments and banking: This Blockchain is formulated by a set of banks working together.
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Why Write for Wiki Tech Blog – Blockchain Write for Us
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