What is the difference between a public and private cryptocurrency?

1 answers

• Nov 29, 2021 · 3 years ago
  Public cryptocurrencies, like Bitcoin, are open and accessible to anyone. They operate on a public blockchain, which means that transactions are transparent and can be viewed by anyone. This transparency ensures trust and security in the network. Private cryptocurrencies, on the other hand, are more restricted and require permission to access. They operate on a private blockchain, which is only accessible to a select group of participants. Private cryptocurrencies offer enhanced privacy and control over transactions, making them suitable for organizations or individuals who value confidentiality. However, private cryptocurrencies may also be more susceptible to centralization and manipulation, as control over the network is concentrated in the hands of a few participants.
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