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
BitLicense
Refers to the business license issued by the New York State Department of Financial Services (NYSDFS) to companies dealing with Cryptocurrencies (subject to certain exceptions) in New York.
Ring Signature
A type of digital signature performed in a group where it becomes impossible to determine which member's key in the group were used for the digital signature.
Lightning Network
It is the "second layer" or an off-chain of payment protocol that operates on top of a blockchain. Payments on this network do not need block confirmation and it will be instant.
Zero Confirmation Transaction
Another name for "unconfirmed transaction"
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