What Is the Difference between a Public and a Private Blockchain? ⎊ Path

What Is the Difference between a Public and a Private Blockchain?

A public blockchain, like Bitcoin or Ethereum, is permissionless, meaning anyone can view the ledger and participate in the consensus mechanism. A private blockchain is permissioned, meaning participation is restricted to a select group of authorized participants, often within a single organization or consortium.

Private blockchains offer greater speed and control but sacrifice decentralization.

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Glossar

Private Blockchain

Control ⎊ A private blockchain operates under the control of a designated entity or consortium, allowing for tailored governance over transaction validation and data access.

Bitcoin

Architecture ⎊ Bitcoin, within a cryptocurrency context, represents a decentralized, peer-to-peer electronic cash system predicated on cryptographic proof rather than requiring a trusted third party.