🌐 Differences Between Public, Private, and Consortium Blockchains
1. Public Blockchain 🏛️
• Open to all: Anyone can participate and verify transactions.
• Secure 🔒: Fully decentralized and immutable.
• Slow 🐢: Due to consensus mechanisms (e.g., Bitcoin).
• Examples: Bitcoin, Ethereum.
2. Private Blockchain 🏢
• Restricted access 🔐: Controlled by a single entity.
• Fast ⚡: Rapid transactions with centralized management.
• Ensures privacy 🛡️.
• Examples: Hyperledger Fabric, Ripple.
3. Consortium Blockchain 🤝
• Hybrid 🔗: Shared control among a group of organizations.
• Efficient ⚙️: Fast and trusted collaboration among members.
• Flexible and transparent 🌟.
• Example: Aura Blockchain (luxury goods traceability).
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As explains, the choice depends on needs:
• Public 🏛️ for transparency and decentralization.
• Private 🏢 for control and privacy.
• Consortium 🤝 for shared governance and efficiency.
