A public blockchain is a decentralized and open network where anyone can participate without needing permission. It allows anyone to read, write, and validate transactions on the blockchain. Public blockchains are often fully transparent, meaning all data is available for anyone to see. The most well-known examples include Bitcoin and Ethereum.
Key Features of Public Blockchains:
- Decentralization: No single entity controls the network.
- Transparency: All transactions are visible to the public.
- Security: Secured through consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS).
- Permissionless: Anyone can join the network as a participant or validator.
Public blockchains are ideal for applications requiring high levels of transparency and decentralization, such as cryptocurrencies and decentralized finance (DeFi) platforms.
