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- 00:00We want to deal this week with the quite different Applications and fields of application of the Blockchain,
- 00:05and there makes sense, first of all. on certain blockchain guys, archetypes that exist.
- 00:13First we have the Public Blockchain,
- 00:15we distinguish a Private Blockchain
- 00:18and then there's a consortium blockchain.
- 00:22In order to understand this in more detail, you have to look at it again. the various rights granted to the individual participants in such a block chain.
- 00:31So rights or permissions.
- 00:34If everything is public, like our Bitcoinsystem, is all public, any user may download the system,
- 00:43everyone may use, see the system, and everyone can choose to be a Miner,
- 00:50so to participate in the consensus process. It's called Permissionless.
- 00:55Everyone can be a Miner and update the Blockchain.
- 00:59Public, anyone can see, use and apply that.
- 01:03Private means only certain users are allowed to use and read the system.
- 01:10And permissioned means that even the most selected participants the consensus process.
- 01:17And we see here, Public Blockchain, it's like Bitcoin, is public blockchain, everyone can read and use it and everyone can be Miner.
- 01:28In Private Blockchain, that means, only selected users are allowed to view and update this.
- 01:37At Consortium Blockchain everyone can be a user, anyone can use, download, use the system, but only selected users are allowed to update the block chain.
- 01:50What's the background to this?
- 01:52The background for these different types of blockchain is, that for example in such a consortium Blockchain a company offers a certain service
- 02:03and the blockchain is used for the communication between companies and customers.
- 02:09And customers can see everything, but this update, this consensus building, this then happens in the company itself.
- 02:19With a private blockchain like that, it's the other way around, that the customer wants to communicate with the company, that the rules can be set,
- 02:30and the advantage in this context is, that they can discuss together. and modify the system together.
- 02:37how they're gonna use that for their species.
- 02:40So we'll see now as the week goes on, that each of these types of blockchain has their justification,
- 02:47has its advantages, has its disadvantages,
- 02:51and this decision of which type to use in which position, which depends very much on the area of application.
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