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The Rise of Hybrid Blockchain Networks
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[QUOTE="GXBlocks, post: 132221, member: 5543"] [HEADING=1][SIZE=7]The Rise of Hybrid Blockchain Networks[/SIZE][/HEADING] [I][SIZE=5]As the hype for cryptocurrencies has returned, it is important to not forget about the evolving platforms around blockchain technology. In 2019, game-changing platforms entered the market with viable solutions such as Corda and Hyperledger. Moving forward, emerging leaders will have unique combinations of features based on the blockchain trilemma.[/SIZE][/I] [IMG alt="0*dOV3zD1kOLnTea8m"]https://miro.medium.com/max/625/0*dOV3zD1kOLnTea8m[/IMG] The [B]Blockchain Trilemma[/B] refers to a network’s trade-off between scalability, decentralization, and security, where any two will succeed at the expense of the third. Balancing these three characteristics is a considerable challenge for blockchain solutions providers but also for their customers. Blockchain solutions are being constantly developed in a diverse set of industries, ranging from supply chain to energy. [HEADING=2][/HEADING] [HEADING=2]Public[/HEADING] [HEADING=2]Private[/HEADING] [HEADING=2]Permissionless[/HEADING] [HEADING=2]Permissioned[/HEADING] [HEADING=2]Hybrid Blockchain Networks[/HEADING] Essentially, we are talking about the rise of hybrid blockchain networks, which combine the best features of both public and private blockchain networks. Specifically, hybrid networks are much more secure for users, have increased scalability, and better speed as transactions are approved faster. So, in a public-permissioned blockchain network, such as Ripple, scalability is improved and anyone can be granted access to join and read, but only authorized and known participants can write and commit. Moreover, in a private-permissioned blockchain network, only authorized participants can join and read. The network operator and other authorized nodes can write and commit, while scalability is high for this type of network. Well-known examples include Corda and Hyperledger. According to a report by Deloitte 2020, the vast majority of enterprise use-cases involve a private and permissioned blockchain network, as it usually is the best fit for an organization’s needs. [CENTER][B][I]In the future, hybrid blockchain networks will dominate enterprise solutions and the most competitive ones will have ideal combinations between decentralization, scalability, and security.[/I][/B][/CENTER] [HR][/HR] [I]Copyright © 2021 GX BLOCKS ENERGY S.A.[/I] [/QUOTE]
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