Added resource links; fixed typos (#21885)
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@@ -10,11 +10,11 @@ As of now, there are mainly three types of Blockchains that have emerged. These
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1. Private Blockchain
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2. Public Blockchain
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3. Federated Blockchain (Hybrid)
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3. Consortium/Federated Blockchain (Hybrid)
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#### 1. Private Blockchain
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Blockchain Technology that is owned by a private party or an organization. It is a decentralized architecture but some powers to make decisions are vested in the hands of person in-charge. This architecture is typically more scalable because there is no need for a consensus algorithm for nodes on the network to agree on the state of the blockchain.
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Blockchain Technology that is owned by a private party or an organization. It is a decentralized architecture but some powers to make decisions are vested in the hands of the person in-charge. This architecture is typically more scalable because there is no need for a consensus algorithm for nodes on the network to agree on the state of the blockchain.
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The person in-charge is responsible for giving selective access and permissions such as read/write.
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@@ -22,13 +22,16 @@ Example : Bankchain, Hyperledger
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#### 2. Public Blockchain
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In this architecture, no one is in-charge. Anyone and everyone can participate in reading, writing, and auditing the blockchain. Public Blockchain is open and transparent and therefore it is open for review by anyone willing to do so, at any given point of time. This architecture requires a consensus algorithm like Proof-of-Work or Proof-of-Stake.
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In this architecture, no one is in charge. Anyone and everyone can participate in reading, writing, and auditing the blockchain.
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Public Blockchain is open and transparent and therefore it is open for review by anyone willing to do so, at any given time. This architecture requires a consensus algorithm like Proof-of-Work or Proof-of-Stake.
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Example : Bitcoin, Ethereum, Litecoin
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#### 3. Federated Blockchain
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In this type of blockchain the problem of the private blockchain is solved. The issue of sole autonomy by vesting the power in the hands of an individual is tackeled by making more than one person in-charge.
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#### 3. Consortium/Federated Blockchain
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In this type of blockchain the problem of the private blockchain is solved. The issue of sole autonomy by vesting the power in the hands of an individual is tackeled by making more than one person in charge.
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A group of people come together to form a consortium or federation. Which in turn works together for the common good.
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@@ -46,4 +49,13 @@ There is another category for classification, that is based on the persmission g
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` Basically we use hyperledger to make permissioned blockchain. Hyperledger is a multi-project open source collaborative effort hosted by The Linux Foundation. `
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#### More information:
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[A Beginner's Guide to Blockchain](https://blockgeeks.com/guides/what-is-blockchain-technology/)
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[Different Types of Blockchain](https://coinsutra.com/different-types-blockchains/)
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[Types of Blockchain](https://data-flair.training/blogs/types-of-blockchain/)
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<sub>This article is not an original work and is inspired and taken from [here](https://coinsutra.com/different-types-blockchains/) and [here](https://data-flair.training/blogs/types-of-blockchain/)</sub>
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