Types of Blockchain

          There are majorly four types of Blockchain – 

•  Public Blockchain:

• • • What it is: It’s like a big public ledger where anyone can join and do transactions. Imagine a giant digital notebook that everyone can see and use.
    • Advantages: It’s trustworthy because no one needs to know or trust each other. It’s also very secure because there are many people keeping an eye on it. Plus, it’s open for everyone to see.
    • Disadvantages: It can be a bit slow because of all the people using it. Also, as more people join, it can get even slower. It uses a lot of energy, which isn’t very good for the environment.
    • Examples of Use: Governments can use it for voting, and businesses can use it to raise money transparently.
    • Examples of Public Blockchain: Ethereum, Bitcoin etc.

• Private Blockchain:

• • What it is: This one is like a smaller, private club. It’s used in a smaller group or organization and controlled by one main person or group. It’s not open to just anyone.
  • Advantages: It’s faster because there are fewer people involved. You can also make it just the right size for your group.
  • Disadvantages: It might not be as secure because there are fewer people watching. Also, it needs a central person or group to manage it, which can be a bit controlling.
  • Examples of Use: It’s great for tracking things in a company’s supply chain, or for keeping tabs on who owns what.
  • Examples of Private Blockchain: Hyperledger Fabric

• Hybrid Blockchain:

• • • What it is: This is like a mix of both public and private. It’s like having a secret part and a public part. It lets you choose who sees what.
    • Advantages: It’s very safe because it’s like having a secret room within a bigger place. It’s also not too expensive to use.
    • Disadvantages: It’s not as open and clear as a public blockchain. Also, sometimes people might not have a good reason to take part.
    • Examples of Use: Real estate companies can use it to manage their systems and share some info with the public  
    • Examples of Hybrid Blockchain: Quorum

• Consortium Blockchain:

• • What it is: Think of this like a team effort. Different organizations work together on this big digital network.
  • Advantages: It’s really safe, efficient, and organized because everyone knows each other. It also has special controls to keep it secure.
  • Disadvantages: It’s not as open as a public blockchain, and if one group gets hacked, it could cause problems.
  • Examples of Use: A bunch of banks can team up and use it for their transactions, or groups can use it to share research.
  • Examples of Consortium Blockchain: DLT

Remember, these blockchains are like special computer systems that keep information safe and organized, and they’re used for all kinds of important things!