Over the last decade, more and more businesses have begun to explore the opportunities afforded by blockchain technology.
Thanks to the overall speed and low transaction costs, not to mention the security and immutability, these networks provide multiple benefits in the areas of data management, financial tracking, value transfers, and much more.
This is why companies like BMW are already implementing blockchain for a variety of business solutions, including digital car passports and supply chain management.
When we talk about enterprise solutions, private blockchains are typically more efficient than public, however, private blockchains usually substitute speed for decentralization.
Public blockchains are widely adopted due to the network effect and the ability to instantly provide goods or services to anyone connected to the public infrastructure
There's a middle path as well. Hybrid blockchains are advantageous as they allow users to control the privacy policies of data while reducing the impact on scalability.
Both private and public blockchains have pros and cons as everything. It’s for you to decide which one fits your enterprise’s requirements better. Educate yourself before deciding on blockchain technology.
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