Consortium Blockchain Explained
Blockchain is a piece of technology that was created by a pseudonymous group or individual under the name Satoshi Nakamoto. Satoshi arranged blockchain in a manner that was envisioned to facilitate a decentralized and trust less online payments ecosystem in the form of the digital currency Bitcoin . This has deposited the making of other digital currencies and assets which all utilize blockchain technology as a base upon which to build their various platforms. The most common type of blockchains are public, with the most prevalent being Bitcoin and Ethereum . Though, blockchain types such as a consortium blockchain are another thought-provoking application of Satoshi’s initial blockchain execution. Consortium blockchains can best be understood when compared to their more popular counterpart, public blockchains. This type of blockchain is one that possesses no access restriction, meaning that absolutely anyone with an internet connection can become a participant of a public bloc...