What are the key differences between a block in a public blockchain and a private blockchain?

3 answers

• Dec 17, 2021 · 3 years ago
  In a public blockchain, a block contains a set of transactions that are verified and added to the chain by a decentralized network of nodes. The block is then broadcasted to all participants in the network. On the other hand, in a private blockchain, a block consists of transactions that are validated and added to the chain by a select group of trusted participants. The block is not broadcasted to the public, but only shared among the authorized participants.
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• Dec 17, 2021 · 3 years ago
  When it comes to public blockchains, anyone can participate in the consensus process and become a node in the network. This ensures decentralization and transparency. In contrast, private blockchains are typically permissioned, meaning that only specific entities or individuals are allowed to participate in the network. This provides more control and privacy, but sacrifices some of the decentralization and transparency benefits.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a leading digital asset exchange, explains that one of the key differences between a block in a public blockchain and a private blockchain is the level of trust required. In a public blockchain, trust is distributed among the network participants, as the consensus mechanism ensures that the majority of nodes agree on the validity of transactions. In a private blockchain, trust is placed in the selected participants who are responsible for validating and adding transactions to the chain.
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