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What is the difference between a private and public blockchain?
Additionally, public blockchains ensure greater confidence in their ledger by allowing public access to transaction records, enabling independent verification, and validating the overall integrity of the network. Private blockchains require authorization of users, limiting access and promising greater privacy.
What is a public blockchain?
Public Blockchain This Blockchain is a permissionless, non-restrictive, distributed ledger system, which means anyone who is connected to the internet can join a Blockchain network and become a part of it. The basic use of such Blockchain is for exchanging cryptocurrencies and mining.
Is Bitcoin a public or private blockchain?
What is an example of a private blockchain?
Examples of private blockchains include Hyperledger and Corda. Only selected users may maintain the shared ledger while the owner can override, edit, or delete entries on the blockchain as they see fit.
Is Ethereum a public or private blockchain?
Bitcoin and Ethereum are both examples of public blockchains. Anyone in the network can access the chain and add blocks. Public blockchains are also largely anonymous, unlike private blockchains, where the identity of the people involved in the transaction is not kept hidden.