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One article to understand the difference between public, private, federated and licensed chains

As blockchain is developing faster and faster, different blockchains have different connotations and functions, but people often talk about public chain, private chain, alliance chain, permission chain, do you understand what they mean?

public chain

public chainIt means that anyone in the world can access the system at any time to read the data、 Send a confirmable transaction、 Blockchain for Competitive Bookkeeping。 public chain Often considered to be fully decentralized, Because no person or institution can control or tamper with the reading or writing of data therein。

public chain Participants will generally be encouraged to compete for bookkeeping through a token mechanism, to ensure data security。 bitcoin (virtual currency)、 Ether is all typical of public chain。

Key features: users are protected from developers, all data is public by default, and the access threshold is low.

private chain

A private chain is a blockchain whose write access is controlled by an organization and institution. The eligibility of participating nodes is strictly limited, and because the participating nodes are limited and controllable, private chains can often have extremely fast transaction speeds, better privacy protection, lower transaction costs, less susceptibility to malicious attacks, and the ability to do things like authentication, which is a must for the financial industry.

In contrast to centralized databases, private chains can prevent single nodes within an institution from intentionally concealing or tampering with data. Even if an error occurs, the source can be quickly identified, so many large financial firms prefer to use private chain technology.

Key features: gives better privacy, significantly lower transaction costs, and very fast transactions.

affiliate chain

affiliate chain is a blockchain managed by a number of institutions with joint participation, Each agency runs one or more nodes, The data therein allows only different institutions within the system to read, write and send transactions, And work together to record transaction data。

Design privacy permissions can differ between private and federated chains, and the design requirements for permissions in federated chains tend to be more complex.

license chain

Permission chain means that each node involved in the blockchain system is permissioned. Unauthorized nodes are not accessible in the system. Thus, both private and federated chains are permission chains.

Note that some permission chains do not have a token mechanism, as tokens are not needed to encourage nodes to compete for bookkeeping.

Blockchain technology has become increasingly complex as the world has evolved and the needs of application scenarios have become more complex.

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