The public blockchain is a fully decentralized system with no individual or entity in control of what happens in the whole blockchain, and there are no restrictions regarding the participants of the consensus. Furthermore, the public blockchain is open to everyone, as anyone can see read any data sent to the blockchain from any part of the world.
However, consortium blockchain or federated blockchain or permissioned blockchains have a somewhat different system of operations. It may interest you to know that the consortium blockchain is permission-ed, and that invariably means that it is not open to just anyone, as is the case of the public blockchain. In some instances, they can be referred to as semi-decentralized. However, the control of a consortium blockchain is not in the hands of a single entity, but it is distributed among a group of select individuals, hence there is the possibility that there may be a difference between the consensus process of the consortium blockchain and the public blockchain. Rather than just letting anyone be a part of the consensus process, the participants of the consortium blockchain’s consensus are usually a group of network nodes that have been pre-approved.
Basically, the federated blockchain has the default security features that come with the public blockchain, but ensures that there is more control over the blockchain network. At the moment, there are several enterprise-based consortium blockchains, and they are a group of companies working together to make good use of the unique features of the blockchain technology to aid in the improvement and effective functionality of business process. There are different examples of consortium blockchain, and some of them include:
· Quorum Etc.
These different consortium blockchains have their core assignments, and were created for different purposes and to help the companies achieve more. It is amazing to see that there is a way to have some control over the activities of the blockchain technology, and it is also worthy of note that developers are working day and night in their exploration of the blockchain technology, in order to discover more abilities.