Different Types Of Blockchains In The Market and Why We Need Them

Usman Sheikh

Public blockchain: A public blockchain is a decentralized network open to anyone. It is usually maintained by a community of users who validate and store transactions.

Private blockchain: A private blockchain is a network controlled by a single entity or organization. It is designed for specific use cases such as supply chain management.

Consortium blockchain: A consortium blockchain is a network where multiple organizations collaborate and maintain the network. This type of blockchain is used for industries such as banking, where a group of institutions need to validate and store transactions.

Hybrid blockchain: A hybrid blockchain is a combination of both private and public blockchains, providing a balance of security and accessibility.

Decentralized Finance (DeFi) blockchain: A DeFi blockchain is used to create decentralized financial applications, such as exchanges and lending platforms.

Supply chain blockchain: A supply chain blockchain is used to track the movement of goods and raw materials, ensuring transparency and accountability in the supply chain.

Gaming blockchain: A gaming blockchain is used to create decentralized games and reward systems, allowing players to earn and trade virtual assets.

Identity blockchain: An identity blockchain is used to securely store personal information and identities, providing secure and efficient verification and authentication.

Healthcare blockchain: A healthcare blockchain is used to securely store and manage patient data, ensuring that it is only accessible to authorized individuals.

Voting blockchain: A voting blockchain is used to create secure and transparent voting systems, enabling individuals to cast their votes in a fair and secure manner.

Energy blockchain: An energy blockchain is used to manage and trade renewable energy, enabling individuals and organizations to invest in and sell sustainable energy sources.