Public Chain

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.

The most prominent public blockchains today include Bitcoin, Ethereum, and Cardano.

Key Takeaway

A public chain (blockchain) is a completely decentralised and open network in which anyone can join and participate.

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