How many types of blockchains have emerged after bitcoin introduced blockchain to the world?
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Bitcoin popularized the concept of the blockchain at a global level. While Bitcoin targeted an improvement in the existing financial system, the underlying technology has been used to record varying events- the blockchain is now used for keeping medical records, management records, transaction processing, beauty & wellness, food industry, supply chain management, identity management, aviation industry, Internet of Things, to name just a few.
The blockchain can itself be permissioned or permissionless. It can also be public or private as far as its types go.
The blockchain can itself be permissioned or permissionless. It can also be public or private as far as its types go.
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The answer is three.
Three types of blockchains have emerged after Bitcon introduced blockchain to the world.
*Public – The blockchain is open to all and anyone can read, write or audit it.
*Private – The blockchain belongs to a specific person who decides what access is to be given to whom regarding the blockchain.
*Federated or Consortium – The blockchain is owned by more than one person who collectively make decisions on the operations of the blockchain.
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