Enterprise v/s Public Blockchain

#Blockchain #technology?was first introduced in 2008 as the underlying technology for the cryptocurrency Bitcoin. Since then, it has evolved and been applied in various ways, including the development of both public and #enterprise blockchains.

Public blockchains, such as #Bitcoin, #Ethereum, #Solana, #Avalanche, #Binance Smart Chain etc., are decentralized networks that are open to anyone to join. They are secured by a large network of computers that work together to validate transactions, add them to the blockchain, and achieve #consensus on the current state of the blockchain. Because anyone can join these networks and participate in the consensus process, public blockchains are considered to be highly transparent and secure. They are also censorship-resistant, meaning that no single entity has the power to censor or modify transactions on the network.

However, public blockchains can also be slow and expensive to use, due to the large number of nodes and the energy-intensive consensus process. They are also less private, as transaction data is visible to anyone on the network.

On the other hand,?enterprise blockchains?are private networks that are used by organizations for specific business processes. They are typically permissioned, which means that only authorized parties are able to access the network and participate in the consensus process. This makes them more secure, as the network is less vulnerable to attacks from unauthorized parties.

Enterprise blockchains?are usually faster and more scalable than public blockchains, because they have fewer nodes and a more streamlined consensus process. They are also more customizable, as the organizations that use them can configure them to meet their specific needs. This makes them well-suited for use in various industries, such as #supplychain management, #healthcare, and #finance.

In summary, public blockchains are open, decentralized networks that are secured by a large network of computers and are considered to be highly transparent and secure. Enterprise blockchains, on the other hand, are private networks that are used by organizations for specific business processes and are more customizable, faster, and scalable than public blockchains. Both types of blockchains have their own unique benefits and drawbacks, and the choice of which one to use depends on the specific needs and requirements of the organization.