PUBLIC BLOCKCHAIN BASED SOLUTIONS

State of the art public Blockchain protocols based on Proof of Work (PoW) consensus algorithms are open source and not permissioned. Anyone can participate, without permission.

  1. Anyone can download the code and start running a public node on their local device, validating transactions in the network, thus participating in the consensus process – the process for determining what blocks get added to the chain and what the current state is.
  2. Anyone in the world can send transactions through the network and expect to see them included in the blockchain if they are valid.
  3. Anyone can read transaction on the public block explorer. Transactions are transparent, but anonymous/pseudonymous.

Examples: Bitcoin, Ethereum, Monero, Dash, Litecoin, Dodgecoin, etc.

Effects:

  1. Potential to disrupt current business models through disintermediation.
  2. No infrastructure costs: No need to maintain servers or system admins radically reduces the costs of creating and running decentralized applications (dApps).
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