Blockchain Networks

In conceptual terms, a Blockchain network refers to a set of connected participants that transact and share data in a peer-to-peer manner. In technical terms, a Blockchain network is the physical network of computer servers running its own software (known as blockchain software) and store, exchange, and synchronize data.

Blockchain networks can be private or public. A private network is intended for transactions between a closed group of participants, where one can join by invitation only. A public network is one where anyone is free to join as long as they adhere to the rules and regulations and processes and protocols set up by the participating community.

In most cases, for both public and private networks, multiple organizations or individuals come together as a consortium to form of the network, and their permissions are determined by a set of policies that are agreed by the consortium when the network is originally configured.