Public Blockchain Vs Private Blockchain - How Do They Differ From Each Other?

Here are some of the similarities between public and private blockchain before we go on to the key differences: 

Similarities  Between Public And Private Blockchain 

Authentication

Both public and private blockchains depend on their users and members for the verification or approval of alterations such as the insertion of new or activities to the virtual ledger. 

Immutability

Whether in their public or private forms, blockchain technologies are all irreversible. In other words, verified data cannot be entirely changed or destroyed by a single person or a large group of individuals. 

Peer-Peer Ledger Replica

To avoid instances of illegal manipulation, public and private blockchains are maintained and disseminated real-time clones of blocks or data throughout every machine on the network.

Key Differences Between A Public And Private Blockchain

There are some key differences to be considered such as, 

Magnitude

Due to the lower volume of transactions that are conducted on a private blockchain, they are lighter and have higher transactional throughput than public blockchain which are heavier due to the enormous volume of transactional activities that are constantly occurring on them. 

Control

Public blockchain are preferred because they provide decentralized power in the hands of all users of the virtual ledger platform, as opposed to private blockchain which is known for centralizing control of the network in the hands of a restricted number of users. 

Accessibility levels

In public blockchain, anyone can access from anywhere in the world and can verify, add, and use data. Private networks differ in that case and only authorized parties can enter the network.

Security

The decentralized architecture and engaged user base work together to increase network security on public blockchain. While, there is a higher danger of hacks, breaches, and internal manipulation due to fewer players managing the network with private blockchain.