What’s called a public blockchain is a network that is accessible by all users. What is meant by accessible? Usually, it means that everyone can write, read, participate or in any other way interact - based on particular blockchain networks functionality - with a public blockchain. All public blockchains are decentralized and no one among the users gains control over the blockchain network. They could be sure that data and transactions are immutable since they got validated in the blockchain network once.
Regularly public blockchain anticipates all crypto currencies, such as Bitcoin, Etherum and tokens based on its network, USDT, Bitcoin Cash, Litecoin and others.
What is a cryptocurrency?
It is a digital asset created to work as a mechanism of change that uses robust cryptography to ensure financial transactions, manage the production of supplementary units, and verify the transaction of assets. Cryptocurrencies generally work with decentralized authority as opposed to banking systems or regular currencies that are centralized.
But things are not always painted black or white here. There are some public blockchain networks (e.g.: Ethereum) that can be applied to build permissioned flow and scenarios to control access to the data. Use of smart contracts architecture to create permission model and build an identity management system, for example - could be a perfect case for blockchain development.
IdeaSoft has experience with building solutions in financial, insurance and other industries with public blockchain networks as assets or payment providers. Usually, these solutions are used to grant easy and fast ways to pay for some goods or operate with asset management. We worked with those well known public blockchain networks like Bitcoin, Etherum, Stellar, USDT and others.
Another way to operate with blockchain-built networks is developing trading platforms. Development of such platforms (i.e. cryptocurrency exchanges and OTC desks) is one of our key knowledge, no matter whether it is centralized, hybrid or even a decentralized cryptocurrency exchange platform with a full batch of common and professional tools.