What Is a Public Chain?
On a public blockchain, anyone is free to join, and there are no restrictions when it comes to participating. It is a decentralised system in which no single entity controls the network. Instead, all users within a public chain have equal rights. This includes access to read the ledger, as well as the opportunity to take part in the consensus process and validate incoming transactions.
Characteristics of a Public Chain
- Open environment — Anyone can participate on a public blockchain.
- Immutable — Once data is added to the blockchain, it cannot be changed.
- Transparent — Anyone can view the ledger and its transactions at any time.
- Anonymous — Users do not have to use their real names to participate on a public blockchain.