Why Public Blockchain Matters: The Advantages and Challenges
Introduction Public blockchains are game changers in areas ranging from finance to healthcare to supply chain management. Public blockchains, at their core, are decentralized, transparent, and unchangeable ledgers of transactions validated by a network of nodes or participants. This blog will define public blockchains , explain how they work, and discuss some of the advantages and disadvantages of using them. What is a public blockchain? A public blockchain is a sort of distributed ledger in which anybody may join and participate. It is decentralized, which means that no centralized authority controls the network. Instead, it is managed by a network of nodes or participants who validate transactions and ensure the blockchain's integrity. Because public blockchains are transparent, all transactions are visible to everyone on the network. This transparency ensures that all participants see the same information and that no tampering with the data is possible. Furthermore, public bl