Blockchain: What are the Various Kinds, and Why Do We Need Them in Our Business?
Blockchain: What are the Various Kinds, and Why Do We Need Them in Our Business? Blockchain technology transforms business by enabling secure, transparent, and decentralized transactions. This technology is used in various industries, including finance, healthcare, and supply chain management. However, there are various kinds of blockchains, and each one is designed to address specific business needs. This blog post will discuss the different types of blockchains and why we need them in our business. Public Blockchain A public blockchain is a decentralized system that allows anyone to participate in and verify transactions. It is the most well-known type of blockchain, and Bitcoin is a popular example of a public blockchain. Public blockchains are secured through consensus algorithms such as Proof of Work (PoW) or Proof of Stake (PoS). Anyone can read or write data to the blockchain, which is open for all to see. Public blockchains are ideal for businesses that require transpar