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Public Vs Private Blockchains | Amit Modi

There is a big difference in what technologies you need, depending on whether you allow anyone to write to your blockchain, or known, vetted participants. Bitcoin allows anyone to write to its ledger.

Private blockchains
Conversely, a ‘private’ blockchain network is where the participants are known and trusted: for example, an industry group, or a group of companies owned by an umbrella company.

Many of the mechanisms aren’t needed – or rather they are replaced with legal contracts.
This changes the technical decisions as to which bricks are used to build the solution.

Public blockchains

Ledgers can be ‘public’ in two senses:
1. Anyone, without permission granted by another authority, can write data

2. Anyone, without permission granted by another authority, can read data

Usually, when people talk about public blockchains, they mean anyone-can-write.

Because bitcoin is designed as a ‘anyone-can-write’ blockchain, where participants aren’t vetted and can add to the ledger without needing approval, it needs ways of arbitrating discrepancies (there is no ‘boss’ to decide), and defence mechanisms against attacks (anyone can misbehave with relative impunity, if there is a financial incentive to do so). These create cost and complexity to running this blockchain.

14 Comments

  1. Hai Le

    How to create private blockchain?

    1. Amit Modi

      Hey Le,

      There are Various ways to create a Private Block chain. Do you need it for Development purpose or you need to setup you business over there? If you need further assistance I can setup you call with our development team.

      Regards
      Amit Modi
      CEO
      Hash Code Programmers Pvt Ltd.

  2. Amit Modi

    Hey Le,

    There are Various ways to create a Private Block chain. Do you need it for Development purpose or you need to setup you business over there? If you need further assistance I can setup you call with our development team.

    Regards
    Amit Modi
    CEO
    Hash Code Programmers Pvt Ltd.

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