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What are the 4 different types of blockchain technology?

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Unlocking the Types of Blockchain Technology 1. Public Blockchain: Description: Open to the public, accessible by anyone. Key Features: Decentralization: Multiple nodes validate transactions. Transparency: All participants can view the entire blockchain. 2. Private Blockchain: Description: Restricted...
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Unlocking the Types of Blockchain Technology

1. Public Blockchain:

  • Description: Open to the public, accessible by anyone.
  • Key Features:
    • Decentralization: Multiple nodes validate transactions.
    • Transparency: All participants can view the entire blockchain.

2. Private Blockchain:

  • Description: Restricted access, typically within an organization.
  • Key Features:
    • Permissioned Access: Participants require approval.
    • Enhanced Privacy: Limits visibility to authorized users.

3. Consortium Blockchain:

  • Description: Shared among a group of organizations.
  • Key Features:
    • Joint Control: Multiple entities collaborate in decision-making.
    • Balanced Decentralization: Intermediate level of openness.

4. Hybrid Blockchain:

  • Description: Combines elements of public and private blockchains.
  • Key Features:
    • Flexibility: Allows selected transparency and control.
    • Tailored Solutions: Adaptable to specific use cases.

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