January 2, 2024

Take your pick of blockchain networks: public and private, also known as permissionless or permissioned. Users can access these networks directly through user interface software (UI) on nodes, via UI provided by third parties with downloadable software, or through standard internet browsers. The selection of these options depends on the organization’s needs and resources, considering factors such as cost and data accessibility.

Public networks are open to everyone, allowing anyone to view ledger information, create nodes, and submit data transactions for validation and implementation. While built using the same software, private networks feature enhanced security measures, regulated node creation, controlled transactions, and scalability tailored to specific user data needs. Private networks may require login information, two-factor authentication codes sent to personal smartphones, or personally identifiable information verification, enhancing overall security.

User interfaces can be included with node creation software, downloaded as standalone software from third parties, built internally, accessed through internet browsers, or as smartphone apps. Each interface offers different security, capability, and ease of access options, incorporating text-based commands, buttons and menus, or blockchain explorers similar to internet search engines.

While theoretically limitless, the length of the blockchain and the size of each block impact network accessibility. More extensive networks demand more computing power to become a node. For instance, Ethereum, one of the largest public blockchain networks, comprises nearly 14 million blocks, with approximately 150,000 transactions per block processed every 15 seconds. In contrast, permissioned (private) networks offer comparable capabilities with higher transaction speeds, around 2 seconds per block.

Blockchain significantly improves three interconnected categories—decentralization, transparency, and system efficiency. These enhancements empower companies to better utilize assets and manage liabilities effectively in the short-term or current period. Explore the diverse features and options within blockchain technology to optimize your organization’s data management and operational efficiency.

Reach out to see how we’ve helped other organizations integrate blockchain into their operations.