What is best between public, consortium, and private blockchains is really largely up to the user, depending on his or her own particular needs. In recent years, the concepts of public or private blockchains have become very much within the reach of anyone’s imagination, though back in the beginning of the industry, the concepts of consortium or public blockchains were just out of the realm of anyone’s dreams.
The Consortium blockchains developed by consortiums of different computer technology companies are very popular for their privacy and confidentiality capabilities and they also provide a very fast application process. Unlike most of the public chains, consortium blockchains do not have any centralised administrator. This provides privacy and security to users.
Private blockchains on the other hand have some fundamental differences compared to consortiums. Private blockchains are built on individual computers and are normally used for large scale applications such as financial institutions, social networks, and gaming platforms.
Private blockchains are designed to be much faster than any of the private blockchains. As opposed to consortium blocks that use servers, private blockchains can work with a virtual private server (VPS). A VPS is a computer that functions as a dedicated server with its own operating system. Although the shared environment is not as fast as a dedicated server, a virtual private server can provide a great deal of speed compared to a dedicated server.
Private blockchains can also be installed on any desktop or laptop. They run from Linux and run on virtual machines, which means that they run inside a virtual machine rather than on your computer. When compared to public blockchains, which need to connect to a centralised hosting provider, private blockchains only require you to have a web connection. This is also an advantage compared to consortium blocks, which have to be connected to a centralised hosting provider.
Private blockchains are designed to be very secure, unlike public chains which allow outsiders to access them. Since it is an isolated system, no one else can see what is going on inside your computer. Even if another user uses your computer to log into the private chain, he or she will never be able to see what is being done inside your computer. They can however, view what you have stored inside your computer.
Private blockchains are more expensive than public blockchains. Private blockchains also have a limited range of applications compared to public blockchains. If you are looking to use private blockchains for a few purposes, they may be more suitable. However, if you are looking for a general purpose blockchain, it may be more suitable to go for a public chain. It is important to remember that there is no right or wrong answer when it comes to choosing between private and public blockchains.
However, there are advantages and disadvantages with both private and public blockchains. For the end-user, they should all have their own unique set of advantages and disadvantages, so it is best to investigate what each offers before making any decision.
Consortium blockchains can be installed on any desktop or laptop, although some have to be hosted in a virtual machine to run on a desktop or laptop. Although they can be installed easily on any computer, some of them can be difficult to install on a virtual machine.
The biggest advantage with private blockchains is that they are secure. They do not require a centralised host, and since they are isolated from the main Internet, they do not allow any unwanted users access to your data. Unlike public blockchains, which need to be connected to a centralised hosting provider, private blockchains only need you to have a web connection.
Private blockchains can also be installed on any desktop or laptop, although some have to be hosted in a virtual machine to run on a desktop or laptop. Although they can be installed easily on any computer, some of them can be difficult to install on a virtual machine.
Although private blockchains can offer a lot of security benefits compared to public blockchains, they also provide a number of drawbacks. The biggest drawback is that they take up a lot of space on your computer. A virtual private server can take up a lot of space, as it has to store all the data on your computer. Because of this, it can become extremely slow if you want to transfer large amounts of data from one location to another.