Public Blockchain
By CoinGecko | Updated on Mar 03, 2020
In contrast to permisioned blockchain - where participation and access into the blockchain data requires authorisation, a public blockchain such as Bitcoin is completely is free and available to the public. Anyone can join and view its data. Public blockchain adheres to the original Bitcoin Protocol ethos of not having a central authority to overwrite anyone's authority. Public blockchains are resistance to censorship and foreign interference as it has no single point of failure.
Related Terms
Transaction Fee
A payment to the network for performing a transaction to be recorded on the blockchain.
Private Keys
The alphanumeric string which allows transactions from the cryptocurrency address
Block Reward
One of the mechanisms built into a blockchain to incentivize validators
Dominance
Typically refers to Bitcoins' market capitalization dominance.
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