Private vs Public Blockchain: Why Enterprises Need Both (ft. Tomaz Levak, OriginTrail)
In its genesis, blockchain was designed with the intention of it being a decentralized peer-to-peer network. However, these networks can either require permission by a controlling entity (a private blockchain) or be truly permissionless and everyone can make modifications (a public blockchain). But when it comes to enterprises and businesses, which one is better? On one hand, a private blockchain is more flexible as the controlling parties are able to mold and amend the network’s rules to ensure optimal workflows. On the other hand, a public blockchain has a higher degree of integrity — multiple parties independently vetting for one piece of information is more reliable than one source dictating what that piece of information means. Tomaz Levak, Co-Founder of OriginTrail, thinks that enterprises need a bit of both for one simple reason: interoperability.