What's the difference between a private block chain and a public block chain.

[Niyi Briggs]

We all know that a block chain is like a ledger in cryptocurrency where all transactions are recorded. The confusing part of these is the difference between a private block chain and a public block chain.

I guess a public block chain is a kind of block chain that is not acessible to everyone. Please someone that understands the whole of it can put us through on what it is.

 

[Suba]

Blockchain public is an open network that is public, so it has no restrictions, so that everyone can access the public blockchain. Public blockchains are especially suitable for crypto, voting and fundraising (ICO).

The main difference between a public blockchain and a private blockchain is how to access it, because private blockchains are limited so that only certain people can access them. Private blockchains can be used by financial institutions to record financial transactions.

 

[Magnus2022]

Private blockchain technology as the name applies is solely for private engagement within a specific organization. Private blockchain technology can be used by an institution to interact, transfer, engage and share information among themselves. Public blockchain can be accessed by everybody that want to use it.

 

[riberet19]

Public blockchains are those in which all transactions and movements in the network are recorded in a ledger open to the public and is totally transparent, private are those where transactions and balances are encrypted as in Monero where they use what is known ring signature in which a sender signs the transactions but this technology works as a dream and hides the true sender of the transaction and the recipient.

 

[Yohanna]

It true that the public blockchain is accessible to everyone but it cannot be tampered with.