YAO Network - The Futuristic Hybrid
What are Hybrid Blockchains?
Hybrid Blockchains lie between private and public blockchains. And enjoys features of both private and public blockchain. Therefore understanding of hybrid blockchains we must first understand the differences between private and public blockchains. As the name suggests, public blockchains are accessible to and managed by the public. Anyone can take part in the prolongation and governance of the blockchain. The most famous blockchain in the world, Bitcoin, is a public blockchain. Participators are rewarded in the form of block rewards. Since millions of users control a public blockchain across the world in real-time.
Achieving consensus for a public blockchain is time-consuming and extravagant. For the consensus mechanism that Bitcoin uses, Proof of Work. Relies on improvident computations for millions of devices to certify security. By collation, a private blockchain allows finite. blockchain. private blockchains have a superintendent. who can control sanction of adding or modifying data on a private blockchain? The most famous private blockchains include the hyper ledger fabric. Which is developed as a competitor to Ethereum by IBM. Private blockchains are much faster than public blockchains. Because the network is managed by a handful for trusted nodes. Whose intention is clearly for the benefit of the network. Such trusted nodes along with financial institutions or universities. To maintain trustworthily andremain unbiased. Now, it is explicit that each type of blockchain has its strengths and weaknesses. Public blockchains are transparent and resistant to tampering are slow and extortionate. Whereas, private blockchains are quite centralized. But it can deliver much higher throughput and speeds. As a logical step, hybrid blockchains intermingle the benefits of both of the blockchains. While trying to limit the disadvantages. So, we can use a public blockchain to make the ledger accessible to every single person in the world. with hybrid blockchains. Private blockchain running in the background that can control access to the modifications in the ledger.
The YAO Network architecture aims to make it easy for enterprises and developers to design, build and deploy their own blockchain applications in the cloud environment. The platform offers public or private networks to satisfy enterprises and developers when they customize the possibilities of blockchain network and applications. In brief, the YAO Network architecture hopes to offer: advanced, friendly and easy-to-use technologies and features; safe and fast public and private blockchains of the cloud network; an open ecosystem that promotes connectivity and interaction between third-party services and enterprises. Developers and enterprises are the primary participants and builders of the YAO Network platform.
Each blockchain type has its own set of pros and cons. And deciding on which type of blockchain is best suited to your business company/business rely on your business/company requirement. The future will only tell how far these blockchains go and who will be the vanquisher. The YAO Network is the solution which offers the best of both private and public networks.
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