Ever since Bitcoin was created by Satoshi Nakamoto, there has been a huge interest in blockchain technology among business, companies, and even banks worldwide.
Cryptocurrencies like Bitcoin, and Litecoin are called public blockchains, where anyone can add entries, and verify transactions in a free way. However, banks have taken the advantage of using the blockchain technology for their own means, and decided to create private chains where its access is limited to authorized members.
Now, if you take a look at these concepts, they are more similar to the Internet vs the Intranet. Which is why, I'm curious to know what are the advantages or disadvantages between these forms of blockchains?
Will they coexist in the future? Or will one of them prevail?
Please let me know what do you think about this, as I want to learn more about both of these chains.
May you miss one about the consortium chain. Cryptocurrencies like Bitcoin, and Litecoin are called public blockchains, where anyone can add entries, and verify transactions in a free way. However, banks have taken the advantage of using the blockchain technology for their own means, and decided to create private chains where its access is limited to authorized members.
Now, if you take a look at these concepts, they are more similar to the Internet vs the Intranet. Which is why, I'm curious to know what are the advantages or disadvantages between these forms of blockchains?
Will they coexist in the future? Or will one of them prevail?
Please let me know what do you think about this, as I want to learn more about both of these chains.
Private - The cheaper fees, fully private or restrict the permission,
The pointless point - It can be changing for any time and I mean about the rules.
Even the private was giving more advantages rather than public but seems like All of that was useless in my mind.