<commit_before>---
title: Types of Blockchain
---

![Blockchain](https://github.com/Vagisha16/Hw3/blob/master/blockchain-what-and-why-19-638.jpg?raw=true)

## Types of Blockchain

As of now, there are mainly three types of Blockchains that have emerged. These are broad classifications based on the way the tech is used and handled.

1. Private Blockchain
2. Public Blockchain
3. Consortium/Federated Blockchain (Hybrid)

#### 1. Private Blockchain

Blockchain Technology that is owned by a private party or an organization. It is a decentralized architecture but some powers to make decisions are vested in the hands of the person in-charge. This architecture is typically more scalable because there is no need for a consensus algorithm for nodes on the network to agree on the state of the blockchain. 

The person in-charge is responsible for giving selective access and permissions such as read/write.

Example : Bankchain, Hyperledger, Multichain, Ethereum(Private network)

#### 2. Public Blockchain

In this architecture, no one is in charge. Anyone and everyone can participate in reading, writing, and auditing the blockchain.

Public Blockchain is open and transparent and therefore it is open for review by anyone willing to do so, at any given time. This architecture requires a consensus algorithm like Proof-of-Work or Proof-of-Stake.

Example : Bitcoin, Ethereum, Litecoin

#### 3. Consortium/Federated Blockchain

In this type of blockchain the problem of the private blockchain is solved. The issue of sole autonomy by vesting the power in the hands of an individual is tackeled by making more than one person in charge.

A group of people come together to form a consortium or federation. Which in turn works together for the common good.

Example : [Energy Web Foundation](http://energyweb.org/)





There is another category for classification, that is based on the permission granted to the blockchain network. They are classified as -<commit_msg>Public type blockchain Added (#30440)<commit_after>---
title: Types of Blockchain
---

![Blockchain](https://github.com/Vagisha16/Hw3/blob/master/blockchain-what-and-why-19-638.jpg?raw=true)

## Types of Blockchain

As of now, there are mainly three types of Blockchains that have emerged. These are broad classifications based on the way the tech is used and handled.

1. Private Blockchain
2. Public Blockchain
3. Consortium/Federated Blockchain (Hybrid)

#### 1. Private Blockchain

Blockchain Technology that is owned by a private party or an organization. It is a decentralized architecture but some powers to make decisions are vested in the hands of the person in-charge. This architecture is typically more scalable because there is no need for a consensus algorithm for nodes on the network to agree on the state of the blockchain. 

The person in-charge is responsible for giving selective access and permissions such as read/write.

Example : Bankchain, Hyperledger, Multichain, Ethereum(Private network)

#### 2. Public Blockchain

In this architecture, no one is in charge. Anyone and everyone can participate in reading, writing, and auditing the blockchain.

Public Blockchain is open and transparent and therefore it is open for review by anyone willing to do so, at any given time. This architecture requires a consensus algorithm like Proof-of-Work or Proof-of-Stake.

But a natural question that comes to our mind is that when no one is in charge here then how the decisions are taken on these types of the blockchain. So the answer is that decision making happens by various decentralized consensus mechanisms such as proof of work (POW) and proof of stake(POS) etc.

Example : Bitcoin, Ethereum, Litecoin

#### 3. Consortium/Federated Blockchain

In this type of blockchain the problem of the private blockchain is solved. The issue of sole autonomy by vesting the power in the hands of an individual is tackeled by making more than one person in charge.

A group of people come together to form a consortium or federation. Which in turn works together for the common good.

Example : [Energy Web Foundation](http://energyweb.org/)





There is another category for classification, that is based on the permission granted to the blockchain network. They are classified as -
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