Blockchain types—public, private, hybrid, and

consortium

An industry group or a group of companies owned by an umbrella company

may form a network in which many of the mechanisms are not needed and

are replaced with legal contracts, where the participants are all known and

trusted.

Public and private are the two types of blockchain. Public blockchains are

permissionless, and Private blockchains are permissioned.

The hybrid blockchain is not open to everyone, and its members decide who

can participate in the blockchain or which of the transactions are made

public. A decision is to be made as to whether to allow anyone to write to

your blockchain, or known, vetted participants to choose from the given

options.

The consortium blockchain is semi-private and has a controlled user group

that works across different organizations.

In two senses, the ledgers are public:

Without any permission granted by an authority, anyone can write

data.

Without any permission granted by an authority, anyone can read data.

Anyone-can-write is the usual meaning when we talk about public

blockchain,

Bitcoin design is an example of the “Anyone-can-Write” blockchain, where

the participants are not vetted and can add to the ledger.

Ownership/transaction/order integrity

The transaction verification and recording process is immediate and

permanent on the blockchain. The data is replicated and stored

instantaneously on each node across the system as the ledger is distributed

across several nodes. In the blockchain, when a transaction is recorded,

verified, and settled within seconds across all nodes together with all its

details such as price, asset, and ownership. A change that is verified and

registered on anyone’s ledger is also simultaneously registered on all other

copies of the ledger, and since each transaction is transparently and