Question

Depending upon who can access them, there are three broad categories of blockchain. From the three blockchains, which one is more preferable within a group of related organizations like a group of companies or an association of companies within an industry?

a. Public Blockchain
b. Private Blockchain
c. Consortium Blockchain
d. Permissioned Blockchain

Answer 1

The Consortium Blockchain is the most suitable for groups of related organizations because it allows controlled access and collaboration, maintaining privacy from the public.

Step-by-step explanation:

The most preferable type of blockchain within a group of related organizations, like a group of companies or an association of companies within an industry, is a Consortium Blockchain. This type of blockchain is partially private, allowing multiple organizations to have access to the network while keeping it closed to the general public. The consortium blockchain offers a balanced approach, providing the benefits of decentralization while maintaining control over who can participate in the blockchain network. This allows the participating organizations to collaborate and ensures that sensitive information is not exposed to external parties.