Blockchain Versions comes in many different ways. We usually hear about public versus private blockchains. While understanding this, the idea of an open versus closed blockchain should not be left out. Blockchain network enables its members to participate in the process of block verification. According to which it can again be permissioned or permissionless.
In public blockchains, the user can store, send and receive data. Likewise after downloading the required software on their device, thus the user can automatically become a member of the blockchain network.
Nobody has any control over the network in public blockchain they become decentralized.Public blockchain
Anybody can join in public blockchains as it is ‘public’. They are secure as the data can’t be change once validate on the blockchain. Likewise, the most celebrate example of a public blockchain is Bitcoin where transactions are direct make between the user.
Private blockchain works similarly. Yet as it is ‘private’ it works with access controls that restrict those that can join the network.Private blockchain
Hence in a Private Blockchain permission to write, send and receive data control one organization. The particular organization in control has the power to change the rules. A private blockchain and has the authority to decline transactions based on their established rules and regulations. Usually, private blockchains are develop by a particular corporation to collaborate with other divisions or a few permissioned participants.
Blockchain network enables their members to participate in the process of block verification. In permissionless networks, everyone can join and start verifying. Whereas in the case of permissioned networks only a few members allow to verify blocks.
Most of the well-known blockchain implementations are public blockchains. Where anyone can participate without any permission thus it becomes public permissionless blockchain.
A consortium blockchain or simply permissioned blockchain can consider as a hybrid model. Between the low-trust offered by public blockchains. On a public permissioned network, the network maintainer has the ability to appoint privileged parties. Where only those privileged parties can write data. Like public permissionless network here also the transactions are transparent and require native assets. Ripple is the basic example of a public permissioned blockchain.
Similar to the public permissionless network, anyone can spin up a node to join a private permissionless network. However, only participants with known identity can join and read data. Unlike on a public permissionless blockchain. It doesn’t require native assets and the data will be confidential and has high scalability. LTO Network is a perfect example of a private permissionless blockchain.
Private Blockchains are enterprise-orient where the enterprise itself writes and verifies each transaction. So a private permissioned blockchain only privileged parties can write data. Private blockchains are a way of taking advantage of blockchain technology. By setting up groups and participants who can verify transactions internally. Just like in a centralized system Private Blockchains have security breaches. They also have their use case. Especially when it comes to scalability and state compliance of data privacy rules and other regulatory issues. Private permissioned blockchain results in the reduction of transaction costs and data redundancies and replaces legacy systems, simplifying document handling. The basic example of a private permissioned blockchain is Hyperledger Fabric.
One of the most popular and powerful mantras among the blockchain community decentralize applications (DApps). Mostly popularized by distributed ledger technologies (DLT), a DApp is often known as smart contacts. It runs on a decentralized peer-to-peer network. A DApp can have frontend code and user interfaces written in any language that can make calls to its backend.
Ethlance: Blockchain Versions & Dapps
Normally to sell one’s skills and entertise to clients online must go through a third party. So Ethlance is a platform that aims to decentralize a marketplace for job postings and hiring freelancers. Hosted on the Ethereum blockchain. Ethlance charges no registration fee or contractual work commission as it totally decentralize. The platform can sustainably run with 0% service fee as is clear from the fact. That it never takes a cut from transactions between freelancers and employers.
CryptoKitties: Blockchain Versions & Dapps
CrytoKitties is an online game ana DApp from the Canadian company Axiom Zen (Animoca Brands). That gives its users access to digital cats that they can buy, sell or breed. These cats or kitties call crypto-collectibles. It uses the blockchain Ethereum, which is traded in the cryptocurrency ether. The game can be played since November 28, 2017.
Port: Blockchain Versions & Dapps
uPort is an identity management platform powered by the Ethereum blockchain. So to interact with an end-user all one needs is an Ethereum address, this is provided by uPort. The real power of uPort is that it makes the Etgereum apps more approachable. moreover, U Port on a great extend aims to streamline digital identity with an aim to stop identity and data theft. It considers one’s moblie as the extension of its own self. That makes uPort as a platform for self-sovereign identity. When one configure their uPort for the first time. It fetches data from the particular mobile with their own permission. It’s writes in Ethereum’s smart contract which can later be shared by the users as and when required.
Golem: Blockchain Versions & Dapps
Golem is the marketplace for computing power. Furthermore A decentralized supercomputer or a marketplace where one can buy or sell the extra computing power they have. Golem supercomputers will run when the user pays in GNT native tokens. These tokens will be given to people who have rented out their extra computing power on the Golem network.
IBM Food Trust Network: Blockchain Versions & Dapps
As per The Wall Street Journal (WSJ) reports, Walmart and nine other companies have partnered with IBM in order to release a blockchain for tracking food globally through its supply chain. So IBM Food Trust solution using IBM Blockchain Platform is a tool or capability that IBM has built to help companies build, govern and run blockchain networks. It’s built using Hyperledger Fabric (the open-source digital ledger technology) and it runs on IBM Cloud.
BankChain is an enterprise platform for banks for implementing blockchain software on 8 February 2017 by State Bank of India (SBI), Hence India’s largest bank. It forme in collaboration with Primechain Technologies, a Pune-based startup. Accordingly, the members get access to all BankChain projects along with access to Primechain-MONEY, Primechain-Money sandbox, and training material. Invitations to exclusive events and technical training programs and representations on Bankchain committees are added benefits to its members.