Do you want to know about the different types of blockchain?
In the domain of blockchain, there have been persistent debates about centralization and decentralization. Many industries still follow the centralized technology as it has been in existence for a very long time. Blockchain technology can make the concept of centralization a thing of the past.
Decentralization is one of the pillars of blockchain technology. In a decentralized network, every participating node is an independent one. Instead of following the instructions of a central authority, decentralized nodes connect with each other while maintaining their sovereignty. This helps to secure the network.
Centralization is when a central authority controls the data and functions of the network. Social media platforms like Facebook and YouTube work on a centralized system. Your information is stored on these centralized systems with your consent.
What are the types of Blockchains?
- Public Blockchain
- Private Blockchain
- Consortium Blockchain
- Hybrid Blockchain
Refrences: https://blog.eccouncil.org/what-are-the-different-types-of-blockchain-why-do-we-need-them/