Blockchain technology is built under the operation of the decentralized and immutable ledger system which is used for various applications, starting right from the from financial transactions to that of the supply chain management, hence as the case not all blockchains operates the same way, hence they are generally categorized based on the public and as much private blockchains, which also has its distinct characteristics, and as well it advantages, and use cases study.
The public blockchain is known which is open to anyone who wants to participate and also it operates in its fully decentralized manner, with no single entity controlling the network as it operates it dwells within the consensus mechanisms like that of the Proof of Work (PoW) and in some cases in the Proof of Stake (PoS) in order to validate transactions.
Hence on the other hand private blockchain is known as the permissioned network which is after giving access and as it is restricted to a specific group of participant to engage with it in as much as it is controlled by an organization which is known as the consortium utilized business environments where that of data privacy and efficiency are needed.
Hence in nutshell that public and that of private blockchains have their own strengths and are suited for different applications as the case may be of which the public blockchains prioritize decentralization alongside that of security, making it exceptional for financial transactions within the decentralized applications, so in the other hand the private blockchains, which made it so efficiency and as well privacy, suitable for enterprises and as as well organization, hence by choosing that between public and private blockchains depends on the specific needs of a business.
Am @kingworld-line
