STEEMKIDS CRYPTOACADEMY WEEK6 | TYPES OF BLOCKCHAIN PART I | by @jabuking01

Hello members of steemkids, I am glad to participate in steemkids cryptoacademy assignment this week.

DEFINE AND EXPLAIN A PUBLIC BLOCKCHAIN?

This is the type of blockchain that is open to everyone. Any person can join the platform. You do not need to join with your real identity because the user is anonymous. Since anyone can join the blockchain, there are no restrictions. In fact, you can say that this offers real decentralization. It is important to note that anyone can access the information in it anytime, so there is high level of transparency.

DEFINE AND EXPLAIN A PRIVATE BLOCKCHAIN?

This particular type of blockchain is not open to everyone. For you to be allowed into the blockchain, you need authorization, which means that there is an organization that exercises full control over the platform that gives the authorization. It is only users that are permitted that can view the files in the network.

ADVANTAGES OF PUBLIC BLOCKCHAIN

• There is high level of security because before a new data is accepted, it must be validated by majority if not all the nodes in the network.
• This is where you see real decentralization.
• You do not need authority from anyone to be part of the blockchain.
• Here too, you see real transparency as anyone can look at the files at anytime.

DISADVANTAGES OF PUBLIC BLOCKCHAIN

• Because people can come in without their real identity, anyone can carry out unwholesome activities and cannot be traced.
• It is noted that the network is slow because of too many nodes.
• I can say that it is not good for an organization to use it internally because they cannot keep confidential information there.

ADVANTAGES OF PRIVATE BLOCKCHAIN

• Since you have fewer nodes in the network, there is increased efficiency.
• The speed the network uses to process transactions is faster.
• This network gives more privacy since only users authorized can access the network.
• It is important to note that there is more stability.

DISADVANTAGES

• Since only users authorized can access the network, there is less transparency.
• The network is less decentralized because you have an organization giving authorization.
• There are restrictions.
• There is nothing like being anonymous.

CONCLUSION

I am happy to know more about public and private blockchains as well as their advantages and disadvantages.

I am grateful to Professor @benton3