What is a Public Blockchain?

by Anii Jain Human resource executive

Blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way"

For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks.

Blockchain has enabled a new wave of technological progress that can disrupt many industries and systems before us. The ability to seamlessly secure data in a fully transparent and verifiable way through a decentralized system has captured the attention of people and businesses alike, prompting many to jump on board the bandwagon in search for a better alternative.

Transactions on a public blockchain are publicly transparent and immutable (data cannot be tampered with or altered in any way) but this could pose as a barrier for businesses that want to keep customers’ data confidential. On the other hand, private blockchains are much faster and scalable, but it is more centralized and could be prone to manipulation.

Ardor is a public blockchain platform that allows anyone to utilize the blockchain technology of Nxt through the use of a child (or ‘side’) chains. A child chain refers to a ‘light’ blockchain that can be customized to a certain extent and is designed to allow easy and seamless self-deployment during the development of one’s own blockchain. These child chains will be powered and secured by the Ardor main chain. Developers would have access to a wide range of functionalities that include shuffling, asset creation and trading, aliasing, and phasing.