Explain Different Types of Blockchain: which one Is Best For Business_
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Explain Different Types Of Blockchain :Which 
One Is Best For Business
The rise of Blockchain technology has created a significant impact on across the 
different segments. At the same, it is important to know how this technology will be 
transforming the future. When we talk about Blockchain technology, then there are 
myriads of developments taking around it. 
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 The Blockchain platform is an open-source DLT where every information is time-
stamped and encrypted cryptographically. However, one of the major drawbacks 
of the traditional Blockchain platform like Ethereum is public, and anyone can 
easily access the system. If we want Blockchain technology to become a part of 
mainstream business, then we need a higher security level with no scope of 
tampering and data alteration.
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Blockchain is technology at a nascent stage, which is still developing, and there 
are various transformations taking place in this field.
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Different Types Of Blockchain Platform
The popular Blockchain platforms available are:
Public Blockchain like Bitcoin, Litecoin
Private Blockchains like Corda and Hyperledger Fabric
Consortium Blockchain
Hybrid Blockchain like Dragonchain
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Explanation:
Public Blockchain- This is the most conventional form of Blockchain, which is 
open to all. Bitcoin, Ethereum are examples of the same. It is a permission-less 
Blockchain. Anyone who has access to the internet can become a part of this 
system. Each participant is known as a node. These are authorized centers or 
individuals or nodes which have access to the system. They can do transactions, 
do mining, and also do proof-of-work for any new addition of blocks.
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Private Blockchain- The public Blockchain is permission-less, and hence anyone 
can access this system. But with Private Blockchain, this problem can be easily 
overcome. One of the examples of this is Corda. This is a permissioned 
Blockchain developed for enterprise use. Only a limited number of people can gain 
access to this system. The authorizations, permissions, accessibility is controlled, 
thus ensuring complete safety of the system. This kind of Blockchain is useful for 
supply chain, voting, transactions, asset ownership, and digital identity.
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Consortium Blockchain- As evident from the name, this type of Blockchain is 
accessed by control or group of organizations, which is unlike private Blockchain. 
It is a semi-decentralized Blockchain. More than one organization can participate 
in this and do mining. This type of Blockchain is useful for government and 
banking organizations.
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Hybrid Blockchain- This Blockchain is a mix of both private and public 
Blockchain. So the user enjoys the benefits of both types of a Blockchain platform. 
Access to this network is controlled. Only a selected section of data or information 
is accessible to the public. It is a flexible Blockchain system wherein the user can 
use private Blockchain along with another Blockchain system. Dragonchain is an 
example of the same.
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While the last two types of Blockchain are fairly new, private, and, public 
Blockchain is comparatively more popular, and companies are using the same for 
their business operations.
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Conclusion- The set of advantages and disadvantages vary from one Blockchain 
to another. Coming to our question, which Blockchain is best for the business, 
then based on the business requirement, you can choose the desired platform.
If you wish to know more about Blockchain, you must connect with 
Blockchain Council.
 
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space today.
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