Commercializing Blockchain

2Types of Blockchain

There are many different types of distributed ledger technologies (DLTs) and many of these are classed as Blockchain networks. We will concentrate on the Blockchain networks and discuss the differences between the main three categories:

• Public
• Permissioned
• Hybrid.

The different types of Blockchain networks have different roles and will achieve different tasks. I believe that we need to work in a hybrid world where the Blockchain networks are interoperable and work together. Over the next few years, we will see many more Blockchain networks and DLTs – all of these need to work together as the unique characteristics of each network, complementing each other and enabling a significant ecosystem of many different solutions.

I have asked Chris Wing to talk about the different types and here is his excellent section on the different types of Blockchain networks.

Different Types of Networks

Chris Wing

a. Public Networks

Public Blockchain networks are networks that are public-facing and require no permission to access; anyone is allowed to join, read and write to a public network. Anyone in the world can send transactions through the network and see them on the distributed ledger as long as the transaction is considered to be valid by the rest of the network. Although anyone can commit blocks to the ledger, data within the blocks and the identity of the individual making the transaction remains anonymous.

An example of a public Blockchain network would ...