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.
Read Write Commit Example Blockchain TypeOpenPublic PermissionlessOpen to anyoneAnyoneAnyoneBitcoin, EthereumPublic PermissionlessPublic PermissionedOpen to anyoneAuthorised ParticipantsAll or subset of authorised participantsSovrinPublic PermissionedClosedConsortiumRestricted to an authorised set of participantsAuthorised ParticipantsAll or subset of authorised participantsMultiple banks operating a shared ledgerConsortiumPrivate Permissioned (“Enterprise”)Fully private or restricted to a limited set of authorised nodesNetwork Operator OnlyNetwork Operator OnlyInternal bank ledger shared between parent company and subsidiariesPrivate Permissioned (“Enterprise”)
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