Glossary - ChicksX

Public Blockchain is a decentralized network accessible to anyone. It ensures transparency and security through consensus mechanisms without central authority.

Public Blockchain is a decentralized and open network that allows anyone to participate in its activities. It operates without a central authority, relying on consensus mechanisms like Proof of Work or Proof of Stake to validate transactions. This ensures transparency, as all transactions are recorded on a publicly accessible ledger. Public blockchains are secure because altering any data requires consensus from the majority of participants, making fraud nearly impossible. They are the backbone of cryptocurrencies like Bitcoin and Ethereum, enabling peer-to-peer transactions and the creation of decentralized applications (dApps) across various industries.