Blockchain is a secure, decentralized digital ledger that allows participants to share information without intermediaries, recording transactions in linked blocks. There are various types of blockchains, including private, public, consortium, permissioned, sidechains, and hybrid blockchains, each serving different use cases and governance structures. This technology promotes trust and transparency through cryptographic algorithms and is applicable in various settings, including private businesses and collaborations among organizations.

1. What is Blockchain
Blockchain is a secure, decentralized, and distributed
digital ledger that allows participants to share up-to-
date information simultaneously. It eliminates the need
for intermediaries by securely recording transactions
and data in blocks, which are linked together in a chain.
The network nodes maintain and update the
blockchain, ensuring trust and transparency through
cryptographic algorithms.

2. Types of Blockchain
Private Blockchain Networks:-
Private blockchains are restricted to a specific
group or organisation. Private blockchains operate
on closed networks, and tend to work well for
private businesses and organisations. Only one
authority manages a private blockchain network.
Public Blockchain:-
Bitcoin and other cryptocurrencies originated
from public blockchains, which also played a role
in popularising distributed ledger technology
(DLT). They are decentralised and provide
transparency, security, and immutability.

3. Consortium Blockchain:-
Consortium blockchains are a hybrid between public
and private blockchains. They are governed by a
group of organisations or entities that have agreed
to participate in the network. Consortium
blockchains offer a balance between
decentralisation and control, making them suitable
for collaborations among trusted entities.
Permissioned Blockchain:-
Permissioned blockchains impose restrictions on
who can participate and perform certain actions on
the network. They are typically used in enterprise
settings where trust and identity verification are
crucial.Participants must be granted permission to
join the network and carry out specific functions.

4. Sidechain:-
Side Chains are separate blockchains that run
alongside the main blockchain. They enable the
execution of specialised functions or the
implementation of custom features without
congesting the main chain. Sidechains can
enhance scalability, privacy, or provide unique
functionalities.
Hybrid Blockchain:-
Hybrid blockchains are the combination of both
public and private blockchains. In a hybrid
blockchain, some parts of the blockchain are
public and transparent, while others are private
and accessible only to authorised and specific
participants.

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