The difference between public and private block chain
The difference between public and private block chain The similarities of public and private blockchain Many flavors of blockchain have evolved over the years and the terminology is often misconstrued. This is easy to do because public and private blockchain have many similarities: Both are decentralized peer-to-peer networks, where each participant maintains a replica of a shared append-only ledger of digitally signed transactions. Both maintain the replicas in sync through a protocol referred to as consensus. Both provide certain guarantees on the immutability of the ledger, even when some participants are faulty or malicious. So, how are they different? Public blockchain and known participants The sole distinction between public and private blockchain is related to who is allowed to participate in the network, execute the consensus protocol and maintain the shared ledger. A public blockchain network is completely open and anyone can join and participate