🌐 Differences Between Public, Private, and Consortium Blockchains1.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).🔑As explains, the choice depends on needs:•Public 🏛️ for transparency and decentralization.•Private 🏢 for control and privacy.•Consortium 🤝 for shared governance and efficiency.
