What are the two high level categories of the current Blockchain system?

There are three main types of blockchains, which does not include the traditional database or distributed book technology (DLT) is often confused with blockchains.

general blockchains like Bitcoin and Ethereum

personal blockchains like Hyperledger and R3 Corda

blockchains hybrid like Dragonchain

What is a public blockchain?

Let's explore the different types of chains. And starting with the public blockchains, which is open source. They allow people to participate as a user, miners, developers, or community members. All transactions that take place on public blockchains fully transparent, which means that anyone can check the details of the transaction.

public blockchains designed to be fully decentralized, with no single individual or entity controlling transactions recorded in blockchain or the order in which they are processed.

public blockchains can greatly sensor-resistant, for anyone open to join the network, regardless of their location, nationality, etc. This makes it very difficult for the authorities to shut them down.

Lastly, blockchains society all have signs associated with them are usually designed to provide incentives and rewards participants in the network.

What is a personal blockchain?

Another type of private blockchains chain, also known as blockchains permissioned, has a number of important differences from the public blockchains.

Participants need to agree to join the network

Private transactions and is only available to participants ecosystems that have been granted permission to join the network

private blockchains more centralized public blockchains

private blockchains valuable for companies that want to collaborate and share data, but do not want their sensitive business data seen in public blockchain. This chain, by their nature, more centralized; the entity that runs the chain has significant control over the participants and government structures. Private blockchains may or may not have engaged with the chain pins.

What it blockchain consortium?

blockchains consortium is sometimes considered as a separate designation of private blockchains. The main difference between them is that blockchains consortium organized by a group rather than a single entity. This approach has all the same benefits of personal blockchain and can be considered as a sub-category of private blockchains, as opposed to separate types of chains.

This collaborative model offers some of the best use cases for the benefit of blockchain, bringing together a group of "frenemies" - businesses that cooperate but also compete with each other.

They are able to be more efficient, both individually and collectively, to collaborate on some aspects of their business.

Participants in the consortium blockchains can include anyone from the central bank, the government, for the supply chain.

What is a hybrid blockchain?

Dragonchain occupies a unique place in the ecosystem blockchain in that it is a hybrid blockchain. This means that it combines the benefits of blockchain permissioned privacy and personal with the benefit of security and transparency of public blockchain. Which provides significant flexibility to choose what data they want to make public and transparent the data and what they want to keep private businesses.

Dragonchain blockchain platform hybrid nature made possible by interchain. Our patented capability, which allows us to easily connect with other blockchain protocol. Allowing for multi-chain network blockchains

This function makes it easy for companies to operate with transparency they are looking for, without sacrificing security and privacy.

Also, being able to send to multiple blockchains community while enhancing the security of transactions, because they benefit from the combined hashpower applied to the public chain.

Conclusion:

Blockchain technology application is not limited to the financial industry. It has a fantastic future in various sectors such as supply chain management, digital advertising, forecasting, cybersecurity, Internet of things, network, etc. Blockchain technology also has great candidates to provide new openings for the occupation in the industry. It also improves the ability of professionals to upgrade themselves. Blockchain with the help of technology, it is possible to turn the whole world into a much smaller place. Transactional activities can be done more quickly and efficiently using Blockchain. Blockchain technology will be used in many sectors in the future as the government system because the system is slow, dense, and tends to corruption. Applying Blockchain technology in the governance system can make its operations much safer and efficient.

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