SafeMoon Gaming | Blockchain Education: 4 Types of Blockchain Networks | Food For Thought | Reminders
4 Types of Blockchain Networks
Blockchains are digital ledgers that record and verify transactions. There are four types of blockchains: public, private, consortium, and hybrid. Each type has its own unique features and benefits.
A public blockchain is an open and decentralized network that allows anyone to join and participate in the network. Bitcoin and Ethereum are two examples of public blockchains. These blockchains are maintained by a network of nodes that validate transactions and update the ledger. Because they are decentralized, no single entity controls the network, making them resistant to censorship and tampering.
One of the key benefits of public blockchains is that they are transparent. Anyone can view the ledger and verify transactions, which creates a high level of trust in the network. However, public blockchains are also slow and have limited scalability. The transaction speed can be slow due to the large number of nodes involved in the network.
A private blockchain is a closed network that is only accessible to a select group of participants. It is often used by businesses and organizations to manage internal processes and transactions. Private blockchains are faster and more scalable than public blockchains since they have fewer nodes and are not open to the public.
The downside of private blockchains is that they are less transparent than public blockchains since they are not open to everyone. This can make it difficult to verify transactions and ensure the integrity of the network. Private blockchains are also more centralized since they are controlled by a single entity or group of entities.
A consortium blockchain is similar to a hybrid blockchain as it has both private and public blockchain features. However, in a consortium blockchain, different organizations work together on a decentralized network where predetermined nodes control the consensus methods. It has a validator node responsible for initiating, receiving, and validating transactions, and transactions can be initiated or received by member nodes. Despite its advantages, such as security and scalability, consortium blockchain has a lower degree of transparency, making it vulnerable to a security compromise. This type of blockchain is used in various sectors, including banking, research, and food tracking.
Organizations seeking a combination of private and public blockchain features use a hybrid blockchain. It allows businesses and organizations to have the benefits of both public and private blockchains.
In hybrid blockchains, some data is stored on a public blockchain, while others are stored on a private blockchain. This allows businesses to share data and collaborate with each other while maintaining privacy and security. Hybrid blockchains are more scalable than public blockchains since they have fewer nodes, but they are also more transparent than private blockchains since some data is stored on a public blockchain. Hybrid blockchain is used in real estate, retail, and highly regulated markets.
Each type of blockchain has its own unique features and benefits.
Public blockchains are transparent but slower.
Private blockchains are fast but less secure and transparent.
Consortium blockchains are more scalable than public blockchains and slightly more decentralized than private blockchains.
Hybrid blockchains offer the benefits of both public and private blockchains.
It's important to understand the differences between these types of blockchains when considering which one to use for your business or personal transactions.
Disclaimer: This educational piece is for general blockchain education purposes only and is not specifically related to the SafeMoon Ecosystem.
"What Are The Differences Between Private & Public Blockchain?" by Blockchain Council - https://www.blockchain-council.org/development/difference-private-public-blockchain/
"Everything You Need To Know About Consortium Blockchain" by Blockchain Council - https://www.blockchain-council.org/blockchain/everything-you-need-to-know-about-consortium-blockchain/
"What are the 4 different types of blockchain technology?" by TechTarget - https://www.techtarget.com/searchcio/feature/What-are-the-4-different-types-of-blockchain-technology
"Blockchain Basics" by Bitcoin.org - https://bitcoin.org/en/bitcoin-paper
“The Complete Guide for Types of Blockchain!” SimpliLearn -https://www.simplilearn.com/tutorials/blockchain-tutorial/types-of-blockchain
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Food For Thought
"Innovation is the ability to see change as an opportunity - not a threat."
"The only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it."
- Steve Jobs
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SafeMoon Special - Hello Again
SafeMoon Pulse Monthly Recap
Each month, the SafeMoon Pulse offers a comprehensive SafeMoon overview of the previous month, including any updates or changes you might have missed. The latest issue of the SafeMoon Pulse is now available, covering all the important information from the month of January 2023.
Let's recap the month of January! The video is below, or if you prefer reading, you can access the Pulse article here.
SafeMoon Wallet: How to Sell Crypto Guide
SafeMoon Orbital Shield
SafeMoon released a technical explanation of their patent-pending security product, SafeMoon Orbital Shield.
Need a slightly more simplified explanation?
What is PoA, and what are its advantages?
Learn more by clicking the image below.
Recent Captain's Logs
SafeMoon CEO John Karony talks about SafeMoon's Centralized Exchange
(CEX) progress in the Captain's Log video below.
CEO John Karony gave a quick update on the SafeMoon blockchain explaining a bit about the chosen consensus mechanism and release expectations.
Token Monetization Innovation (TMI)
SafeMoon has released a new patent pending feature designed to improve the user experience on its DEX (Decentralized Exchange - SafeMoon SWaP), labeling the feature TMI (Token Monetization Innovation).
TMI aims to improve transparency and transaction predictability by charging the exchange fees upfront in the native token and using smart contracts to ensure transparency in token liquidity pairings. It also aims to expand the availability of web3 and enable additional community partnerships with meaningful projects.
TMI SafeMoon Newsletter Captain's Log.
Attention pSafeMoon holders ONLY.
The pSFM Migration Campaign is now LIVE!
Only use the official dApp link on the SafeMoon Website.⚠️
Have the tokens you want to use for migration in your wallet.
Don't transfer after the cutoff date/time
Have a small amount of ETH for gas fees
Tokens acquired in wallets after the cutoff date/time won't be eligible
The pSafeMoon process will remain live for a minimum of six months.
Migrate your pSafeMoon tokens to SafeMoon V2 tokens
The education team has also recently updated their pSafeMoon Guide to include an updates section so you can be aware of any issues relating to pSafeMoon. In addition, you'll find some FAQs to keep you all up to date.
Click the image to check it out
SafeMoon announced that with the recent SafeMoon SWaP updates came a new patent pending feature that solves the existing Defi inconsistent fee paradigm for tokens on multiple Decentralized Exchanges.
Press Release: [Businesswire]
They partnered with "Blockchain and AI expert Dr. Adel Elmessiry to help solve the inconsistency. Labeling the invention "Tokenomic Supervisor," they explain that it operates in 2 steps:
To learn more, view the full article here.
Security Questions (Best Practice)
🎓You might have seen that SafeMoon Orbital Shield requires users to answer 2 security questions.
⚠️We highly encourage reading our Best Practice article to learn about a safer method for answering these security questions!
Slippage and Gas Articles
You may have heard of slippage and gas related to the transactions you make when trading your digital assets on the blockchain, but do you know what they are, where they come into play during a transaction, or even why they exist?
SafeMoon Education Manager Cats published two new educational articles for those interested in understanding more.
⬇️Click on the image of the subject you'd like to learn about first.⬇️
↙ Learn about Slippage (Left) and Gas (Right) ↘
Understanding SafeMoon Transactions Article
🎓Want to understand more about what happens when a SafeMoon SWaP transaction takes place? Here's an article that can help you understand the process a bit further.
Check it out by clicking the image below. 👇👇👇
SafeMoon Career Opportunities
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