Abstract:
This study introduced some thoughts in
relation to the concept of blockchain, the types of
blockchain which include details about the public
and the private blockchain and have made a
comparison between the public and the private
blockchain. Therefore, we first recall what
blockchain is and highlights the blockchain as a
technology to keep records of the transactions and
to make transactions securely. The focus is then
moved towards the introduction of public and
private blockchain. From which it came to know
that in public blockchain the participants’ access,
read/write into the system whereas, in private
blockchain, the participants are restricted, and it
is not open for the public. There are number of
similarities and differences between the public
and the private blockchain, and also this
comparison is being a debating topic in both sides
of users and developers. This study tried to answer
for the question of best type of blockchain can be
used, either public or private depend on their
specific use. It found that both types of blockchains
are better and good in their own ways and
provides a variety of benefits depending on the scenarios based.
