Datascape podcast episode 23 - private vs. public blockchains

On today’s show, we welcome Adam Muise to chat with us about the ins and outs of the private and public blockchain. This is a somewhat intermediate discussion and is not an introduction to the blockchain or cryptocurrency, so if you are entirely new to this subject, it is suggested you return to this episode after reading any of the primary resources available online. During our chat we look at the two phases of the history of the blockchain and differentiate broadly between the private and the public. We look at security, privacy and net neutrality as well as questions like, “Who exactly will use my chain?” Without getting too deep into the different currencies and platforms Adam talks about Ethereum and bitcoin for the most part to illustrate his points. So if you have been interested in this increasingly vital topic and want to dive a bit deeper, this episode is for you!

Key points from this episode:

• Adam’s history with blockchain and its two phases.
• Differences between private and public blockchain.
• Why participate in a bitcoin node without mining?
• Deciding between public and private blockchain investment.
• Reasons to keep your purchasing history private on the chain.
• Concerns around net neutrality and how this might affect blockchains.
• Looking deeper into the consensus model for blockchain and what differentiates it.
• Who will use my chain? And explaining the popularity of bitcoin.
• Numbers of nodes towards stability and the strength of networks.
• Results of nodes dying and how this is negotiated between parties.
• Some information on Ethereum and tokens and how they work.
• How companies bring value to private chains.
• Why Ethereum is Adam’s recommendation for first-time users.
• Bandwidth choking and net neutrality in the US versus in China.
• And much more!