Operated by one entity. These Blockchains value efficiency over anonymity, immutability and transparency. For example, Ripple.
Single Industry – Operated by known entities such as stakeholders of one industry. They value immutability and efficiency over anonymity and transparency.
Multi-Industry – Operated by known entities such as stakeholders across multiple industries. They value immutability and efficiency over anonymity and transparency.
Anyone can be a user or run a node. Generally speaking public Blockchains such as Bitcoin value anonymity, immutability, and transparency over efficiency. This means your identity can be safe as you purchase goods online
Characteristic | Private Permissioned | Public Permissioned : Single Industry | Public Permissioned : Multi Industry | Permissioniess |
---|---|---|---|---|
Authority, Control and Trust | Ledger management facilitated by a single company for private use -- centralised trust | Ledger management facilitated by an industry utility, open to limited public use -- semi-centralised trust | Ledger management facilitated by an industry utility or open to public use -- semi-centralised trust | Ledger management facilitated by the distributed network/participants -- distributed consensus/trust |
Business Context | Intra-Company | Inter-Company or within an industry | Inter-Company or across industries | Inter-Entity (company and individual) across a network or ecosystem |
Access Rights | Single company purpose permissioning | Single industry purpose permissioning | Defined multi-industry/purpose permissioning | Multi-Industry/Participant and Multi-Purpose permissioning |
Membership | Static | Static | Semistatic | Fluid |
Accountability, Legal Standing | Legally accountable actors | Legally accountable and potentially regulated actors | Legally accountable and potentially regulated actors | Limited/Zero legal accountability and unregulated actors |
Deployment Style | Private | Private or Public | Private or Public | Public |
Record Immutability | Potentially Editable | Potentially Semi-Editable | Potentially Semi-Editable | Predominantly Irrevocable |
Consensus Mechanism | Proof of Stake, Federated Byzantine Fault Tolerance Agreement | Proof of Stake, Practical Byzantine Fault Tolerance, Deposit-Based, Federated Byzantine Agreement | Proof of Stake, Practical Byzantine Fault Tolerance, Deposit-Based, Federated Byzantine Agreement | Proof of Work |
Advantages |
|
|
||
Disadvantages |
|
|