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Table 3 Categories of blockchains

From: Blockchain application and outlook in the banking industry

  Public blockchains Consortium blockchains Private blockchains
Degree of centralization Decentralized Multi-centralized Decentralized
Participants Anyone can freely participate and leave Specific group of people who agree to enter an alliance Central controller decides members that can participate
Credit mechanism Proof of work Collective endorsement Self-endorsement
Bookkeeper All participants Participants decide in negotiation Self-determined
Incentive mechanism Needed Optional Not needed
Prominent advantage Self-established credit Efficiency and cost optimization Transparency and traceability
Typical application scenario Bitcoin Clearing Audits
Load capacity 3–20 times/second 1000–10000 times/second -
  1. Source: Blockchain Laboratory, Research Institute of Chuancai Securities Co., Ltd.