What is blockchain technology?

Now in its 3rd edition, IBM’s Blockchain for Dummies has introduced blockchain to more than 68,000 readers. Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.

What are the different types of blockchain networks?

Currently, there are at least four types of blockchain networks — public blockchains, private blockchains, consortium blockchains and hybrid blockchains. A public blockchain has absolutely no access restrictions.

What is a hybrid blockchain?

A hybrid blockchain has a combination of centralized and decentralized features. The exact workings of the chain can vary based on which portions of centralization and decentralization are used. A sidechain is a designation for a blockchain ledger that runs in parallel to a primary blockchain.

What is a centralized blockchain compared to a decentralized blockchain?

Compared to decentralized blockchains, centralized blockchains normally can provide a higher throughput and lower latency of transactions than consensus-based distributed blockchains. Currently, there are at least four types of blockchain networks — public blockchains, private blockchains, consortium blockchains and hybrid blockchains.