Blockchain technology is known for its practical applications in various businesses and industries. We delve into the different types and their uses.

When Bitcoin was created in 2008, blockchain technology emerged as the backbone of what made it a peer-to-peer network—defined as partitioning tasks or workloads between peers. By then, it was only recognized as the distributed ledger behind Bitcoin transactions. However, in 2014, blockchain separated from Bitcoin, as its potential beyond being a currency was explored.

Since then, blockchain has grown to be more than just a distributed ledger for cryptocurrencies. In fact, it has also been integrated into various industries outside of finance. This is because this technology can be used to make any data in any industry immutable or impossible to alter. 

As of 2023, there are over 1,000 blockchains used across the world that cater to a wide range of industries. This was made possible by the fact that there are four blockchain types that make it applicable for various uses.

In this article, we define them and determine their pros, cons, and practical uses. 

Public Blockchain

A public blockchain is characterized by being non-restrictive and permissionless. As a result, anyone with internet access can use the blockchain platform, become a trusted node, and join the network. 

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