Modalities and functionalities of Blockchain

When we are clear that on the fact that Blockchain plays as a gigantic account book in which the blocks (registers) are linked and encrypted among themselves to protect the privacy and security of transactions in the digital world, we can conceive it as a secure and powerful database, thanks to its encryption, which makes it applicable to all types of transactions, not only economic

In addition, it must comply with its most important requirement, which is to have several users (also known as nodes) fulfilling the function of verifying all the transactions carried out and thus validating them so that the corresponding block to which they belong is duly registered in the gigantic account book aforementioned.

However, it is important to clarify which are the different models or approaches of Blockchain:

Public Blockchain:

It’s the most popular channel: a chain of blocks distributed with a large influx of validators around the world, which is resistant to manipulation and censorship. In it, consensus is distributed by default and there is no single point of failure, because the process itself is distributed at all levels of the chain.

Modalities and functionalities of Blockchain

The required storage capacity for each team is minimal, since there are many agents that share the same information. Analytically speaking, it would be a similar model like the internet, where not only one agent has control of what is produce, since each user, person o company that participates in the Network has power for themselves and their own websites.

Te puede interesar: Cría e intercambia CryptoKitties, gatitos digitales de Ethereum

Private Blockchain:

It’s a type of chain of blocks with a unique validator who will be free to censor or manipulate it to their own will.

There would then be no distributed consensus, opening the possibility that a single point in the chain would compromise the entire system along with the information it contains. In addition, it would be the owner who would decide to expose their existence, manage and store their data or open it for the use of third parties. We would be in the presence of something equivalent to an intranet or a corporate network.

Modalities and functionalities of Blockchain

Hybrid Blockchain:

This modality combines the best of the private and the public blockchain. In it we would find several validators of the information, without reaching the numbers of the public model, which are likely to be chosen or restricted by one person or several people.

The distributed consensus and the resistance to censorship would be relative and would depend to a large extent on the degree of resemblance between its expansion with its private or public relatives. Its greatest positive quality is that there would not be a single point of error and that it would have to be public by default, at least for its participants.

Modalidades y funciones del Blockchain híbrido
Modalities and functionalities of Blockchain
Previous articleNext article