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What Is Blockchain Technology?

Data is kept in blocks connected in a chain and stored in a blockchain database. Due to the inability to delete or amend the chain without network consensus, the data remains chronologically consistent. To manage orders, payments, accounts, and also other transactions, you can utilize blockchain technology to establish an unchangeable or immutable ledger. A familiar picture of these transactions is consistent with the system’s built-in features, which also stop illegitimate transaction submissions. Hence, To submit your article, you can email us at

Types of Blockchains

There are four types of blockchains:

Public Blockchains

Public blockchains are decentralized computer networks open to everyone who needs to request or verify a transaction (check for accuracy). Transactions that miners verify reward.

Proof-of-work or proof-of-stake consensus procedures use in public blockchains (discussed later). The blockchains for Bitcoin and Ethereum (ETH) are two popular instances of public blockchains.

Private Blockchains

On closed networks, private blockchains function well for private corporations and organizations. Private blockchains allow businesses to set network characteristics, accessibility, and permission choices, as also other crucial security features. A single authority controls a private blockchain network.

Permissioned Blockchain

Businesses that create a private blockchain typically create a network that is permission. However, it’s crucial to remember that public blockchain networks can also have permissions. As a result, there are limitations on which transactions and who can participate in the network. To participate, participants must get an invitation or authorization.

Blockchain Consortium

A collection of institutions governs blockchain consortium networks. Preselected organizations jointly maintain the blockchain, which also decides on data access privileges. Industry sectors that benefit from shared responsibility and have several entities with similar goals sometimes favor consortium blockchain networks. For instance, the Global Shipping Business Network Consortium is a non-profit blockchain consortium aiming to digitize the shipping sector and foster more operator cooperation in the maritime industry.

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why write for us vigorbSearch Terms Related to Blockchain Technology Write for Us

Distributed Ledger

Cryptographic Hashes

Data Nodes

Linked List

Peer-To-Peer (P2p)

Blockchain Forks

Secure By Design

Consensus Algorithm



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