How many types of blockchains have emerged after bitcoin introduced blockchain to the world?
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Bitcoin introduction made around somewhere in 2008 and the first bitcoin mining being initiated in 2009, bitcoin introduced three major types of blockchains over the course of time:
1) Public Blockchain : In this type of blockchain, no one is really in charge of the process. It is based on anyone being able to write, read or audit the process of this blockchain.
2) Private Blockchain : Pertaining to its name, this type of blockchain has a sole owner to handle and look after the processes of mining etc.
3) Consortium or Federated Blockchain : This type of blockchain allows joint ownership to make joint decisions in the favour of the bitcoin currency. A group of individuals or even a whole firm can own this type of blockchain.
1) Public Blockchain : In this type of blockchain, no one is really in charge of the process. It is based on anyone being able to write, read or audit the process of this blockchain.
2) Private Blockchain : Pertaining to its name, this type of blockchain has a sole owner to handle and look after the processes of mining etc.
3) Consortium or Federated Blockchain : This type of blockchain allows joint ownership to make joint decisions in the favour of the bitcoin currency. A group of individuals or even a whole firm can own this type of blockchain.
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Blockchain technology refers to a form of online currency for economic transactions.
Blockchain is designed to record and track virtual value of methods of finance.
Three blockchains have been revealed.
They are public blockchains, private blockchains and consortium blockchains.
There is however no consensus to accurately distinguish between the three types.
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