Public Blockchain
By CoinGecko | Updated on Mar 03, 2020
In contrast to permisioned blockchain - where participation and access into the blockchain data requires authorisation, a public blockchain such as Bitcoin is completely is free and available to the public. Anyone can join and view its data. Public blockchain adheres to the original Bitcoin Protocol ethos of not having a central authority to overwrite anyone's authority. Public blockchains are resistance to censorship and foreign interference as it has no single point of failure.
Related Terms
Microtransaction
Microtransaction is a system that made very small payments possible in buying the common digital goods and services, such as purchasing items in a game.
MicroBitcoin (uBTC)
One millionth of a bitcoin or 0.000001 of a bitcoin. Microbitcoin is the abbreviation of uBTC and often misunderstood as the fork of Bitcoin.
Permissioned Blockchain
It is a private blockchain where the nodes must be previously authorized by a central entity.
QR Code
Abbreviation "Quick Response Code", QR code is a machine readable optical label that stores up to 3Kb of data
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