What Makes A Blockchain Public?

What Makes A Blockchain Public?

There’s lots of talk of blockchain tech, but what makes one different than another? Watching news anchors trying to describe crypto tech is meme worthy for sure. Let's have a cursory view comparing some aspects of public and private (permissioned) Blockchains.

Lets begin with public blockchains. Bitcoin and Etherium are examples of what public chains can accomplish. The first feature to understand is that anyone can join and participate. No one person has control because it is decentralised, and data can not be changed. All participants are anonymous and therefore a level playing field. You can not have permissions when everyone is anonymous.

On the other hand, private blockchains can allow special permissions. For example, writing to a particular chain might require permission, and that means there must be a way to establish identity. Some advantages include compliance and typically faster speeds, although we are seeing improvements concerning speeds with public chains nowadays.

In conclusion, I don’t see public vs private blockchains as opposites, but rather solutions to different problems that can work side by side revolutionizing the technology industry.