How does the security of public versus private blockchains differ?

3 answers

• Dec 29, 2021 · 3 years ago
  Public blockchains, such as Bitcoin and Ethereum, are secured by a decentralized network of nodes that validate and record transactions. This distributed nature makes it difficult for any single entity to manipulate the blockchain. On the other hand, private blockchains are typically controlled by a single organization or consortium, which means they have a higher level of control over the security measures. However, this centralized control also means that the security of private blockchains relies heavily on the trustworthiness of the controlling entity.
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• Dec 29, 2021 · 3 years ago
  When it comes to security, public blockchains have the advantage of being more resistant to censorship and tampering. The decentralized nature of public blockchains ensures that no single entity can easily alter or delete transactions. In contrast, private blockchains may be more vulnerable to attacks from within the controlling organization. If a malicious actor gains control over a private blockchain, they could potentially manipulate or delete transactions without detection.
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• Dec 29, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, believes that the security of public blockchains is superior to that of private blockchains. Public blockchains benefit from the collective efforts of a large number of participants, making it extremely difficult for any single entity to compromise the security. In contrast, private blockchains rely on a limited number of participants, which increases the risk of collusion or malicious activity. Therefore, BYDFi recommends using public blockchains for enhanced security and transparency in the digital currency space.
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