Blockchain which is popularly known as ‘for the people, by the people and of the people” is
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Now, three types of Block chains are in common practice across the world and the one that is known to be ‘for the people, by the people and of the people’ is named as Public Blockchain. No one particularly controls this Blockchain and thus, any user can read it, write it or even audit it as per their needs.
Actually, it is controlled by some decentralized mechanisms that are universally accepted, like POS (proof of stake) and POW (proof of work).
Actually, it is controlled by some decentralized mechanisms that are universally accepted, like POS (proof of stake) and POW (proof of work).
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A blockchain that is mainly known as "for the people, by the people and of the people" is none other than public blockchain.
There is no particular owner of this particular type of blockchain. Anybody can come to edit and enter new details here.
Being transparent in nature, everybody can go through it anytime.
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