Public vs. Private Blockchain, which is better?

JeffBrad12

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Quote from: Aabcde on January 09, 2020, 12:43:01 AM

For me, the two cannot be compared.
Because of this only talks about needs. We can just use coins that are based on public blockchain and someday also we can have coins that are based on private blockchain because the purpose is to trade and make a profit.
For me, the most important thing is whether the public or private blockchain can be useful or not going forward. That is what we must learn more.

it could be compared simply because both are blockchain and just having different features though the purpose is the same it could deliver different result like how is the anonimity and how is the transaction processed. at this point if we are comparing about blockchain we don't consider about profit or trading but instead purely about that blockchain feature.

sovie

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They both have their own benefits, there is no winner or loser. Private blockchains are only solution for centralized institutes like banks, government department. While for decentralization public blockchain are required.
It only depend on your requirement which one fits best for your requirement.

hendra147

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Quote from: selfkey.org on January 08, 2020, 03:25:04 AM

Which do you think is better?

we know both of them is a good ecosysytem, the example from public blockchain is bitcoin and ethereum where everyone can join to strengthen network, everyone can report the issue and helping to solve the bug too. decentralized is the main issue when sathosi nakamoto create bitcoin, and bitcoin is the first implementation for decentralization peer to peer online transaction.
this is Quote of sathosi nakamoto
A lot of people automatically dismiss e-currency as a lost cause because of all the companies that failed since the 1990's. I hope it's obvious it was only the centrally controlled nature of those systems that doomed them. I think this is the first time we're trying a decentralized, non-trust-based system.

as we know the biggest private blockchain is XRP, XRP have only 10 validator ( not miner) where the proses of minting coin can running by them, and its private, no people can join to strengthen network, but XRP have a greate company where can solving any issue and bug, centralized is the best option for bank system, in my opinion centralized blockchain still better than paypal.
goverment and bank need blockchain + centralized then IBM, XRP and some biggest tech company use this momenth to open his service.

for me both of them is good option, but decentralization still the best solution, even if XRP use centralized system the ceo of XRP still love decentralization Roll Eyes

Aabcde

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For me, the two cannot be compared.
Because of this only talks about needs. We can just use coins that are based on public blockchain and someday also we can have coins that are based on private blockchain because the purpose is to trade and make a profit.
For me, the most important thing is whether the public or private blockchain can be useful or not going forward. That is what we must learn more.

lousie9

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both have clear similarities and differences and if I am told to choose which is better private or public clearly I choose both because the difference only lies in the status of the sender who anonymously might be more comfortable doing the public than using a private blockchain and all controls must be on us because all systems are about the same.

hello_good_sir

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I don't think that you can necessarily compare them. It's like comparing apples to oranges.

Institutions are going to continue to issue their own private sector crypto tokens. Is that a bad thing? Absolutely not. But it obviously does not contribute to the economic wellbeing of all the same way that decentralized, public blockchains do due to the fact that they can reach a wider audience.

But private blockchains still play a big role in a company's internal finances and whatnot, no doubt about that.

ansi

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Quote from: Lagduf on January 08, 2020, 05:21:30 AM

that depends on the purpose of the users. The private blockchain is much more scalable as it's a centralized blockchain that doesn't need a lot of validators or node to create decentralization. The public blockchain needs to be decentralized and that's why connecting so many nodes in the same network will make the blockchain less scalable.

When i wanna use it privately and private blockchain is better as i can control it but less security caused by it's fully centralized.

This is the perfect explanation.
Some would think using the private blockchain would make them more private which is not always the case, unless you're covering your ass with multiple VPNs before sending that transaction.

Ucy

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Why have a private Blockchain when you can just build a very fast centralized system that behaves/resembles a Blockchain?
I'm really not sure if a private Blockchain makes sense. Blockchain is Blockchain in my opinion. What makes Blockchain unique and valuable is it's original characteristics.

DarkDays

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Pointless question really, why compare apples to oranges? They both have different use-cases, neither is better or worse unless you're comparing different examples within the same class.

It's similar to asking "which is better: Ethereum vs Bitcoin"? Sure, you can compare them on a fundamental level, but they both have different purposes, ergo one is a pure transactional unit, whereas the other is a decentralized computer and the token is simply gas for that computer.

With that said, I do think private blockchains are better suited for corporated and mainstream adoption, simply because public ledgers aren't exactly an easy sell.

masterrex

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Quote from: selfkey.org on January 08, 2020, 03:25:04 AM

The creation of blockchain has led to a new wave of technological progress, fundamentally changing many industries and systems that used to be the norm. The ability to secure data in a way that is completely transparent and verifiable through a decentralized system has changed the technological world and has been key for the rise of cryptocurrency.

However, a common question that arises is the difference between a public and a private blockchain. In this article, we will explore the differences, including the advantages and disadvantages of both, and their use cases.

https://selfkey.org/understanding-public-vs-private-blockchain/

Which do you think is better?

I think both are good in terms of technological application and functionality. but in terms of purposed for me it has a huge difference, because public blockchain is open and accessible to anyone but the private blockchain is opposite or has a limited network access from others, that's why for me both are useful in different purposes and perspective. but if i have to choose in both of them i prepare to pick the public blockchain since its an open source network so it means plenty of ideas can be used without limitation and censorship which is i believe the true essence of decentralization.

TastyChillySauce00

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Quote from: tsaroz on January 08, 2020, 07:04:15 AM

There's not much difference at the moment between a public and private blockchain as almost all of the modern blockchains are controlled by a few person or a small group of person and institutions. Private blockchain has the advantages of quick changes hence making it fit for the changing market while public blockchain like bitcoin needs to have consensus from a large group of people.

Atleast public blockchain still has some individuals participating therefore it's a lot more decentralized than private blockchain which really feels like banking system disguising as a crypto. We also need to reconsider the fact that private blockchain could easily intervened by government or some people with power, meanwhile public blockchain is all about hash power talk though if we have less than 51% of all hash power we're basically can do nothing.

o48o

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Public blockchain, and with zero knowledge proofs it would be outstanding.
Some would say that public blockchains are centralized as well but at least in those the transactions are permissionless and the project would be unstoppable if there's enough miners. On private blockchain, the miners can be stopped by the government.

tsaroz

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There's not much difference at the moment between a public and private blockchain as almost all of the modern blockchains are controlled by a few person or a small group of person and institutions. Private blockchain has the advantages of quick changes hence making it fit for the changing market while public blockchain like bitcoin needs to have consensus from a large group of people.

Xcode7

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Quote from: selfkey.org on January 08, 2020, 03:25:04 AM

The creation of blockchain has led to a new wave of technological progress, fundamentally changing many industries and systems that used to be the norm. The ability to secure data in a way that is completely transparent and verifiable through a decentralized system has changed the technological world and has been key for the rise of cryptocurrency.

However, a common question that arises is the difference between a public and a private blockchain. In this article, we will explore the differences, including the advantages and disadvantages of both, and their use cases.

https://selfkey.org/understanding-public-vs-private-blockchain/

Which do you think is better?

Between the two they almost have different functions, for example like this if it is general consumption, then the system must also be standard in general, which means that from these factors should be enough for many people, more certainly is better, but if Personally, I think it's a bit tighter and there are many things that some people don't like. But in essence, our diary book is definitely more privacy than a lecture book, right?

btcdie

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Actually as a real use and according to our needs. depends on us responding between private or public, reference to our own needs. honestly I prefer the public blockchain because with transparency and full access rights on our hands, although every transaction is rather slow, in my opinion it doesn't matter. yeah, why did i choose public? maybe according to the crypto goal of "Decentralization". maybe I agree blockchain personally if it grows in my area (locally) and develops trust in investors or users.

chaoscoinz

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I think that the world and society today is starting to become a whole lot more transparent these days. If you own a smart phone or service that involves artificial intelligence you have already given up on your privacy believe it or not. Satoshi Nakamoto made Bitcoin and Block-chain with the intentions of the platform being transparent and public and lets not forget decentralized. However, I also believe their should be levels of privacy upheld if needed, so I believe that public and private block-chains are needed.

DaMut

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for me, it should be public blockchain. I choose it because I do not use cryptocurrency for my daily basis, with public blockchain I can keep my profile anonymously while in private blockchain they have full control over their blockchain and my data is revealed to them. a private blockchain is good for a user that uses cryptocurrency daily because they offer a great transaction speed.

Lagduf

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that depends on the purpose of the users. The private blockchain is much more scalable as it's a centralized blockchain that doesn't need a lot of validators or node to create decentralization. The public blockchain needs to be decentralized and that's why connecting so many nodes in the same network will make the blockchain less scalable.

When i wanna use it privately and private blockchain is better as i can control it but less security caused by it's fully centralized.

selfkey.org

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The creation of blockchain has led to a new wave of technological progress, fundamentally changing many industries and systems that used to be the norm. The ability to secure data in a way that is completely transparent and verifiable through a decentralized system has changed the technological world and has been key for the rise of cryptocurrency.

However, a common question that arises is the difference between a public and a private blockchain. In this article, we will explore the differences, including the advantages and disadvantages of both, and their use cases.

https://selfkey.org/understanding-public-vs-private-blockchain/

Which do you think is better?

Topic: Public vs. Private Blockchain, which is better? (Read 196 times)