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
Node
Within the blockchain network, the nodes are computers that connect to the network and have an updated copy of the blockchain
Mining Reward
The reward resulting from contributing computing resources to process transactions
Dominance
Typically refers to Bitcoins' market capitalization dominance.
Satoshi
A unit measure for the smallest divisible unit of a bitcoin. 1 bitcoin is equal to 100 Million Satoshi.
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