Identifying suite type of blockchain for application: public and private

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.