Wanna know more about data science? Make sure to check out my events and my webinar What it's like to be a data scientist and What’s the best way to become a data scientist !

Blockchain has been one of the hottest buzzwords of the last few years. Initial Coin Offerings, tokenomics, the crypto-bubble, dApps, Bitcoin and Ethereum, all these words have dominated a large part of our professional lives, for those of us who are involved in this space.

Blockchain is a powerful tool, but it is often misused. One of the most common issues with blockchain is that it is used to solve problems that could be solved through traditional relational databases. Other issues relate to using wrong tokenomics models, choosing the wrong type of blockchain or not being aware of problems like scalability and speed of transactions.

blockchain handshake

In order to help you clarify whether blockchain is a good solution for your problem, the Tesseract Academy has created a blockchain framework which can help you out.  The purpose of this framework is to make you rethink whether you really need blockchain, and if yes, what challenges might arise. One of the most useful parts of the framework is a breakdown of the different types of blockchain, which you can see in the table below.

I hope that you will find it useful. Feel free to get in touch with questions and comments, and if you are interested to learn more, you can join one of our workshops.

 

Read Write Commit Example
Blockchain Type Open Public Permissionless Open to anyone Anyone Anyone Bitcoin, Ethereum Public Permissionless
Public Permissioned Open to anyone Authorised Participants All or subset of authorised participants Sovrin Public Permissioned
Closed Consortium Restricted to an authorised set of participants Authorised Participants All or subset of authorised participants Multiple banks operating a shared ledger Consortium
Private Permissioned (“Enterprise”) Fully private or restricted to a limited set of authorised nodes Network Operator Only Network Operator Only Internal bank ledger shared between parent company and subsidiaries Private Permissioned (“Enterprise”)

Wanna know more about data science? Besides my events, you should check out my webinars:
  1. If you want to learn data science: What it's like to be a data scientist and What’s the best way to become a data scientist
  2. If you are a CEO: The importance of data strategy


Dr. Stylianos Kampakis is the owner and author of The Data Scientist.