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Good day to all my friends from Steeemit, at this precious time I arrived with my homework post for task 5 for the professor @stream4u on Bitcoin, Cryptocurencies, and Public chains. It is a good opportunity to do this wonderful task, I really thank @stream4u for the class.

QUESTIONS.

🔸What Is Public Chain

🔸What will be the Advantages

and Disadvantages of Public Chain

WHAT IS PUBLIC CHAIN

PUBLIC CHAIN

According to the lecture, Public chains is seen as a decentralize system, which gives room for anyone to take part from any angle. Here, everybody gets same share or rights in the system.

Anytime somebody talked or mentioned about Public chain, you should have it at the back of your mind that the person is also taking about public blockchain because the two is the same.

Going with the word public, is simply mean or referring to all the people which means many persons, government or state. In otherwords, public blockchain is the blockchain that is open to the public or general people that they can join without specific permission. Here, everyone that join the network will be able to write, read aswell participate in the said network for it has no limitation towards the users or participants.

In anfidote to this, the users has the right to access the system at any given time without the control or command of the authority, everyone has the ability to access the data which can not be changed.

WHAT WILL BE THE ADVANTAGES AND DISADVANTAGES OF PUBLIC CHAIN

ADVANTAGES OF PUBLIC CHAIN

MULTIPLE CONSUMER

The most justifications of the public blockchain has attracted so many fans, owing to the fact of it secrecy nature, Truly, its a trusted system where you can run transactions easily, and legitimately. Simultaneously, you are not forced to show your true identity to the system, And as long as your identity is highly secured in the system, no one can track you down.

MAXIMUM SECURITY

Every platform which is part of the public chain is structured or designed to work with a high rate of security. Looking at the high rate of an account being hacked online, Public chain work very hard to provides its users with the high rate of security protocols. This will make it hard for hackers to carry out there plans.

NO RULES OR REVELATIONS REQUIRED

In the public chain no particular rule or regulation is required. A user has the right to build or produce this podium devoid of any restriction, and its perfect for users while the blockchain is not restricted to the network.

COMPENSATE

However if a user or a participant produces it block and connect the chain, automatically, it progress to be unchangeable or irradicable, in the sense that it's compensable and would be reconciles or changed alongside the invention of a current blockchain together with different entries in the system.

GREATLY DECENTRALIZED

In all the public chain companies, decentralization is really one of the key attractions. But it's usually not seen in the private blochchain.
There is no central/middle authority that controls or maintain the network, it operate as a distributed system, in which every users has the right to copy of the accounts or ledger.

DISADVANTAGES OF PUBLIC CHAINS

As well as their advantages, public chains also have their share of disadvantages. Therefore, below are some of the disadvantages.👇🏽

CHANGES

In the public chain, the ability to change to the new system of the network can be hard or difficult, owing to the fact of the expand rate of consumers presence.

LACK OF CAPITAL OR FUNDS

Fund or capital is essential to every system development so as the public chain requires enough resources, fund or capital to enable the system process well, it may require expansion within active consumption of the network.

SPEED STABILITY

The public chain speed stability happens to be slow, for example, lets say a specific public chain can process transactions within a speed rate of 5.4 in a seconds, then the private chain may process a transaction at the speed rate of 2100 within a seconds in it network.

POOR FLEXIBILITY

It would be difficult for numerous transactions to process on the public chain, knowing that too many consumers are detected within the network. As long as the consumer keeps producing it's chains, it will also result to a low breakdown to the network or system.

CONCLUSION

Public chains is an extensive topic which has a good multiple advantages that promotes the system.

Public chain is the same as public blockchain. The chain is like a decentralize system which gives room for everyone to get involve from any angle and it provide its users with the high rate of security, aswell keeps it's users data or information's secure.

In public chain, everyone gets the same right and every data stored in this chain has transparency. This simply means that anybody is opportuned to view it but is not opportuned to modify it and every computer connected to this public chain is anode.

Thank you once again Professor @stream4u for this great lecture it has really increase my knowledge mostly on blockchain, I learnt alot from it.

Thank you all for reading.

My special thanks to;
@nane15
@sapwood
@yousafharoonkhan
@dilchamo