HYBRID BLOCKCHAIN- THE BEST OF BOTH WORLDS

The blockchain is transforming the world in a unique way. It is enabling enterprise, government and other organization to handle their workflow better and improve their systems with better solutions. Now, it’s changing how we store data, access it and use it to improve the never-ending cycle of technological-growth. It also impacts other aspects of our technology including how we instill trust in a network.

Blockchain can be used in three different ways: private, public and hybrid. If you have read about blockchain in the past, you have an idea of how private and public blockchain works. For those who don’t know, we will discuss them in detail below. However, the third way, i.e., Hybrid might have more impact on the different industries. The hybrid blockchain is the mix of both the worlds, both private and public blockchain. This gives the organizations better control over what they want to achieve rather than change their plans on the limitation of the technology.

Blockchain technology has revolutionized the world in its way. It has made the world more secure and ensured that almost every industry benefits from it. It has been adopted by nations, banks, NGOs, and others solving problems in a better way.

The use of blockchain technology can be done in both financial and non-financial manner. With blockchain, it becomes impossible to tamper data or hack into the system. The openness of the public blockchain brings people all around the world together whereas the private blockchain ensures that closed ecosystem can also thrive with blockchain capabilities.

In this article, we will go through hybrid blockchain and what it has to offer. We will also discuss hybrid blockchain definition and understand it from the inside out. But, before we start, let’s understand what is private and public blockchain.