Sorry, you’re not allowed to access this page. Private bitcoin downtown grand Public Blockchains: Is there room for both to prevail?
The buzzword blockchain has reached new heights in finance history. Not since the invention of double-entry accounting in the thirteenth century has a method of keeping up with things promised our world so much improvement. A blockchain, at its simplest level, is just a corruption-resistant string of ledger entries shared over a network by multiple parties. What exactly could it do now that we couldn’t do with database technology like SQL before? Not much, really, and it would also be much slower than a SQL database.
All blockchains have this basic list of pros and cons, but depending on how they are implemented, the benefits could easily be minimized. For instance, if you deploy too few nodes then your network won’t be very redundant afterall. The list of advantages and drawbacks grows from there when choosing to deploy either a public or private blockchain. Whatever gains it had through decentralization are mostly lost due to the closed nature, which can be used to harm the network at any time the owning company, Ripple Labs Inc.