Saturday, May 19, 2018

BLOCKCHAIN INTERVIEW QUESTIONS PART 5 - What are the types of Blockchain

Types of Blockchain

Blockchain is a type of technology not a single network. It can be implemented in many different ways.
1.      Public Blockchain – Open to everyone to view and access
2.      Private Blockchain – Access to a select group of authorized users.
3.      Hybrid Blockchain – combination of both private and public Blockchain

A permissionless blockchain is also known as a public blockchain, because anyone can join the network.
Bitcoin blockchain, is a permissionless blockchain.

A permissioned blockchain, or private blockchain, requires pre-verification of the participating parties within the network, and these parties are usually known to each other.

The supply chain management is an ideal use case for permissioned blockchains. 


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