Types of Blockchain Technology?
Public Blockchain
A public blockchain is a permissionless, non-restrictive, distributed ledger system. In this kind of blockchain, anyone can sign in to a blockchain platform to become an authorized member to access -records, transactions, and mining details in the blockchain network. It is used for exchanging cryptocurrencies.
Example: Bitcoin and Litecoin blockchains
- Fully decentralized
- Highly censorship-resistant
- Anyone can join the network
Private Blockchain
It is a restricted type of network that requires permission to operate the network. A private blockchain is widely used within businesses or enterprises where only designated members use a blockchain network.Private Blockchain is a more centralized way to secure your data.
Example: Ripple (XRP) and Hyperledger.
- Speed
- Scalability
- Need permission to join the networks
Consortium Blockchain
This type of blockchain network is different from a private network. Managed by more than one organization, Consortium blockchains are semi-decentralized and generally used by banks and government organizations.
- More efficient
- Fast
- Security
Hybrid Blockchain
As the name suggests, hybrid blockchain is a blend of the public and private blockchain. With the hybrid network, the users can easily control who gets permission to which data stored in the blockchain network. Only a particular segment of data or records can be allowed to go public section to maintain the privacy of the confidential data in the private network.
Example: Ripple (XRP) and Hyperledger.
- Transparency
- Provides complete Security in transactions
- Maintains privacy
Cryptocurrency Development Services
Cryptocurrencies are considered digital assets that are designed to serve some specific purposes such as; they act as a medium of exchange using cryptography to secure transactions. Also, control the development of subsidiary units of currency. The immense popularity and success of Bitcoin have opened the door for new similar cryptocurrencies. Most of the currencies are created using Bitcoin source code because it is open source and anyone can use them to create their digital currency. However, these currencies will be called Bitcoin clones
Development Services
- Crypto Coin Development
- Cryptocurrency Wallet Creation
- Mining Crypto Coins
- Bitcoin Mining Pools
- ICO Development
- Exchange Software Development
