How Many Blockchains Are There and Its Type

Blockchain is the world’s most popular distributed ledger technology. It has been around for several years, and its various uses are still being discovered. For example, it can work for voting systems, healthcare management, etc. Nowadays, thousands of blockchain networks are involved in different industries. But, how many blockchains are there?

Lets start with these 4 type of Blockchains

1. Public Blockchain 
2. Private Blockchain
3. Hybrid Blockchain
4. Consortium Blockchain

There are only four main blockchains, which we will discuss in this guide. Let’s start! 

Many blockchain networks are in operation today, and new ones are being developed and launched regularly. It is difficult to accurately estimate the exact number of blockchain networks that currently exist, as the number is constantly changing and there is no comprehensive list of all the networks that have been created.

However, some of the more well-known blockchain networks include:

• Bitcoin
• Ethereum
• Binance Smart Chain
• EOS
• TRON
• Ripple
• Litecoin
• Monero

Many private, permissioned blockchain networks are used by organizations for specific purposes, such as supply chain management, asset tracking, and more. These networks are generally not publicly accessible and are not included in the list above.

1. Public Blockchain 

Public blockchains are open to anyone and everyone. Anyone can join, read the data on the blockchain, send transactions on the blockchain and verify transactions on the blockchain.

Even though public blockchains are decentralized systems, they still have some similarities with private blockchains in design and use cases.

The main difference between public and private blockchains is that only certain people can read, send, and verify transactions on a private blockchain.

Public blockchains offer censorship resistance. Private blockchains can be censored, but not by the public. So, it entirely depends on their members to maintain the integrity of their system.

Public blockchains can withstand censorship because they run on open-source software. Anyone can inspect and modify them at any time. This allows them to resist changes made by governments or corporations who wish to censor information from being shared with others or stored on their servers, so they do not see certain things about themselves/their actions/etc…

2. Private Blockchain 

The private blockchain is a blockchain network in which only authorized users can access the data and make transactions on it. It works efficiently for enterprise applications where there is a need to restrict access to the information stored on the blockchain.

They need to offer decentralization and create a more efficient business model. Private blockchains offer a safer environment than public blockchains. They have no way of sharing information or conducting transactions in the case of lost access. However, this security comes at the cost of decentralization. Private blockchains don’t meet all requirements for being truly “decentralized.” The fact that most private blockchain solutions require access control makes them more suitable for enterprise settings where sensitive data needs safety from unauthorized users (like hackers).

3. Hybrid Blockchain

A hybrid blockchain is a combination of both public and private blockchains. It allows businesses to keep sensitive data private while benefiting from a public blockchain’s transparency and security.

The main advantage of this type of blockchain is that it gives you more control over your data. In addition, it allows you to keep your information secure using different types of cryptography on each component at once:

• Private keys – These provide signing transactions. They take storage locally on devices like smartphones or laptops.
• Public keys – These act like passwords for access control. They take storage securely online but cannot work without their corresponding private key(s).

4. Consortium Blockchain

A consortium blockchain helps when a collection of organizations work together to build, manage and maintain the blockchain. In contrast, public blockchains offer an open environment to anyone who wants to join.

Consortium blockchains designs control some preselected sets of nodes. In this type of network, many participants have different roles: 

Some participate as validators (nodes).

Some operate as managers, and others as users or consumers.

How Many Blockchain Networks Are There?

“How many blockchain networks are there?”There are many blockchain networks that you can choose from. The number of blockchains is different for each one. But generally speaking, you can find more than 1,000 public and private crypto blockchains.

You should also know what type of blockchain your company uses. For example:

• If you’re looking for a public blockchain (like Bitcoin), it’s important to know what kind of network this is. If you want to access its features or services, it will become easier to know which type it is beforehand!
• A private cryptocurrency might not have links with the public internet. You can access it only via secure connections between computers on its network rather than directly over Wi-Fi hotspots like other cryptocurrencies do nowadays.

How Many Crypto Blockchains Are There?

“How many crypto blockchains are there?” There are many crypto blockchains. The first blockchain was Bitcoin, and its most popular blockchain is Ethereum. The most valuable blockchain is Bitcoin because it has the highest market capitalization of any crypto-asset (the total value of all cryptocurrencies).

The most secure blockchain is also Bitcoin. It was the first one to implement Proof-of-Work (PoW) consensus protocol. It ensures that no entity can alter data on the network without being detected by network participants or miners.

Features oF Each Of The Blockchains

Despite being different, each blockchain possesses these specific features, so it’s worth mentioning them. 

1. Borderless

The first benefit of public, private and hybrid systems is that they allow you to access the funds you need without leaving your home country. This means you can use your existing bank account or credit card without dealing with a foreign financial institution. You also don’t have to pay an exchange fee when withdrawing money from another country’s bank account.

This also means that there are no borders or boundaries when using these platforms. You don’t have any restrictions on where and how often you can withdraw money from one system versus another (like if someone wants their money transferred into euros). Many people prefer this flexibility because it allows them greater control over their finances while keeping them in sync with other members of their social circles.

2. Pseudonymous

No matter how many different blockchains are there, participating in a public blockchain makes your identity tied to the transactions. If someone looks at the history of your transactions and sees that they sold bitcoins at 5:00 PM every day for the past 10 years, then they can assume that it’s just an account holder who has bought and sold bitcoin since 2005.

However, this isn’t necessarily true: 

The account holder can use other people’s computers or rent out their computer space for mining purposes because this information is not publicly available on the network itself (because it is too expensive). There are no real risks involved here, but if something does happen with one of these accounts over time (for example, if someone hacked into them), then there is no way for anyone else outside those accounts’ networks to know about this fact without looking closely at each person’s transaction history themselves! 

This kind of data sharing makes sense in private blockchains but not so much when considering public ones due to concerns over privacy protection rights under GDPR laws across Europe today…

3. Transparency/Accountability

• Transparency and accountability are complementary.
• Open-source, public blockchains allow for transparency and decentralization of decision-making.

Public blockchains offer transparency through open source. This type of blockchain gives users full control over their data—and the ability to audit its accuracy at any time by analyzing transactions on the network in real-time or after they’ve occurred, depending on which version you choose to use. This provides unprecedented levels of accountability because it means anyone who uses these systems has access to their account and any previous transactions between them and others who participate in this type of platform/network!

4. Immutable

Immutability is a blockchain property that ensures no one can change the data once it has its way to the ledger. As such, immutability provides several benefits:

• Immutable databases don’t need to update because no one can alter them in any way. This means that you can always retain the data. If you add something new to your database, your entire database becomes immutable.
• Using immutable databases means no one can manipulate or alter them. This feature makes blockchains incredibly secure compared to traditional databases because there’s no way anyone hacks into them without compromising their systems first!

5. Trustless Consensus

In blockchains, consensus is a process by which nodes receive and verify transactions. This process aims to agree on a single proposal using an accurate representation of state changes in the blockchain. Consensus algorithms use distributed ledger technologies (DLTs), including blockchains and distributed ledgers like Hyperledger Sawtooth or Ethereum.

Consensus algorithms share similar goals as proof-of-work schemes. They attempt to find a solution with no one party controlling it or cheating others out of their money—but there are some key differences between them as well! For example:

Private Vs. Public Blockchains?

Public, private and hybrid blockchains are all types of blockchain platforms that allow groups or individuals to create their cryptocurrencies and transact with each other.

A public blockchain is open to anyone who has access to the internet. Anyone can join this network by downloading an application on their computer or smartphone, then using it to verify transactions in real-time (and earn bitcoin rewards).

Private blockchains provide closed networks to which only certain parties have access—a type of permission system in which only authorized parties can use its services. This technology allows organizations to run their internal systems without publicly exposing them. For example: if you’re a business leader at your company and want everyone else in your organization (i.e., employees) on board with what’s happening at work today, then this might be an option for you!

Conclusion

We hope you’ve enjoyed reading about the different types of blockchain technology! We know that each model has many other pros and cons, but these distinctions help us consider how they might fit into your organization. After all, a private blockchain can still benefit from public blockchains by providing a distributed public ledger or transparency and accountability. Meanwhile, a consortium provides private and public benefits by sharing information between participants while maintaining privacy simultaneously. Thanks for reading this guide. We hope you have liked this guide.