Federated/Consortium Blockchain Architecture

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Examples of public blockchain architecture are Bitcoin and Ethereum .

Private Blockchain Architecture
In this case, the information stored in the blockchain is accessible only to invited participants in the blockchain network and to no one else.

The last type of blockchain architecture is the federated/consortium blockchain architecture. It combines the best features of public and private blockchains. It is also heavily controlled by an authority that ensures the validity of transactions and is more suitable for enterprise blockchains.

Blockchain Consensus Methods
Blockchain Guide: Everything You Need to Get Started, Step-by-Step 4

Consensus methods are an integral part of any type of blockchain. It bosnia and herzegovina business email list how fast, efficient, and secure a transaction is. That is why, in this section, we will look at different consensus methods.

Over time and with the rise of blockchain popularity, consensus methods have become diverse, each with their own pros and cons.

We will see the 2 most popular and widespread: Proof of Work and Proof of Stake

Proof-of-Work
It was the first consensus method used in a blockchain network , introduced with Bitcoin . In this consensus method, there are miners who are responsible for validating a transaction.

As we said before, the first person to solve the cryptographic problem will validate the transaction, insert it into the new block, and receive bitcoins as a reward for their efforts in solving the problem.