Types of Blockchain Networks Flashcards

Which blockchain type gives a single company full administrative control over who can read and write to the ledger?

Answer: Private blockchain

A private blockchain is owned and controlled by a single organization that sets all access permissions.

Hyperledger Fabric is best categorized as which type of blockchain?

Answer: Private or consortium permissioned blockchain

Hyperledger Fabric is a permissioned blockchain framework designed for enterprise consortiums and private networks.

A supply chain involving five competing companies wants a shared ledger where all five control validation equally. Which model fits best?

Answer: Consortium blockchain

A consortium blockchain distributes governance equally among multiple organizations, making it ideal for competing companies collaborating.

What is the primary security advantage of public blockchains over private blockchains?

Answer: Immutability enforced by a large decentralized network

Public blockchains derive their security from thousands of independent nodes, making tampering computationally infeasible.

Which statement about sidechains is correct?

Answer: Sidechains operate independently but can transfer assets to and from a main chain

Sidechains run parallel to a main chain with a two-way peg that allows assets to move between them.

Which feature is most associated with permissionless blockchains?

Answer: Anyone can participate in transaction validation

Permissionless blockchains allow anyone to join, submit transactions, and participate in consensus without needing approval.

R3 Corda is commonly used in which industry sector and classified as what blockchain type?

Answer: Financial services — permissioned blockchain

R3 Corda is a permissioned blockchain platform built specifically for financial services institutions.