A blockchain is essentially a digital record of data that is not controlled or managed by a central authority. This record is visible to anyone in the world to view and update, depending on what permissions they have. There are several types of blockchain networks, each with its unique features and characteristics. And some of the most common categories of blockchain technology includes:
Public Blockchains: These are open blockchain networks accessible to anyone, with no restrictions on participation. Anyone can view and join the network, validate transactions, and contribute to the consensus process. Examples include Bitcoin and Ethereum.
Private Blockchains: These are blockchain networks that are operated and controlled by a single organization or group of entities. Access to the network is restricted, and only approved participants can view and validate transactions. Examples include Hyperledger Fabric and Corda.
Consortium Blockchains: These are blockchain networks that are operated by a group of organizations that jointly control the network. Access to the network is restricted to approved participants, and transactions must be validated by a consensus of the consortium members. Examples include R3 Corda and Quorum.
Hybrid Blockchains: These are blockchain networks that combine the features of both public and private blockchains. Access to the network is restricted, but the consensus process is open to the public. Examples include the EOSIO blockchain and the Cosmos network.
Permissioned Blockchains: These are blockchain networks that require participants to obtain permission before joining the network. The consensus process is controlled by a select group of validators, and the network is typically used for enterprise applications. Examples include Ripple and Chain.
