Public Blockchain
Tue, Apr 15A public blockchain is a type of network that anyone, anywhere in the world, can access and use. It’s also known as a permissionless blockchain , meaning no central authority controls who can join or what they can do once they’re on the network.
On a public blockchain, users have the freedom to both initiate transactions and help add new blocks to the chain. Two of the most famous examples are Bitcoin and Ethereum , which are fully decentralized and open to everyone.
One major feature of public blockchains is user anonymity — people can participate without revealing their real identities. This privacy is one reason many users are drawn to these networks.
Public blockchains are also highly transparent . Most of them are built using open-source code , which means anyone can view and review how they work at any time. This openness makes it easy for users to verify transactions independently.
All transactions on a public blockchain are recorded on a distributed ledger , meaning they are stored across many computers in the network. Once recorded, these transactions are permanent and unchangeable — they can only be added to, not altered or deleted.
To ensure accuracy, each transaction must be verified by the majority of nodes (computers) in the network before being confirmed. This process ensures trust without relying on a central authority.
However, there are some downsides. Public blockchains like Bitcoin require large amounts of energy due to their Proof-of-Work (PoW) consensus system. The mining process that validates transactions consumes significant computing power and time.
Another challenge is scalability . As more users join the network, it can become congested, leading to slower transaction times and higher fees.
In short, public blockchains offer decentralization, transparency, and privacy , but they also come with trade-offs such as high energy use and performance limitations under heavy demand.
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