We totally misunderstood Blockchain (Part 1)

[jennysmith]

Why are public chains with the true spirit of decentralization fading away while early adversaries have turned into advocates of the technology?

✅ Slow to adopt — but finally adopting
Governments and politicians were regularly called out for their failing to comprehend blockchain technology. But as time has passed, they are slowly embracing the technology in the right way.

✅ Public vs. private
It’s worth noting that enterprises have their own versions of the blockchain: “private” or “enterprise” blockchains. These differ on several fronts from traditional, “public” blockchains.
In private blockchains, there is no need for “rewards.” There is no point in doing this in a private chain, as the motivation behind the project is different. Public chains require consensus from a majority of the participating nodes — and if there is a disagreement, it can lead to a split, where a new blockchain is born.

Follow me for the rest in the next post.