The Public Accountancy Book is currently the most frequently designed and decentralized DLT ecosystem. Blockchain is built solely on the basis of a public and distributed register, which is accessible to everyone who has access to the Internet. It turns out, however, that even this is completely unnecessary.

Everyone can take an active or passive part in the process of building the network. Everyone can read the network, follow its course or observe transactions. Besides, everyone is able to introduce various changes in the network and work on its security. Everyone can create it, and it is defined as not requiring authorization.

Anonymity and privacy

Such a register is completely uninfluenced by any state, government administration or other authority and, in this sense, is fully private. Let us not confuse privacy completely with anonymity, these are completely different things. The thing is that public blockchain is anonymous, in the sense that we do not have a complete identity of a potential contractor. On the other hand, the network is not completely anonymous, it is certainly a pseudo-anonymous, because we know the public address of the other party to the transaction. We know the identity. In addition, we know the entire history of the transaction, which completely excludes the participation of full anonymity.

Openness and transparency

Public blockchain is fully transparent and completely open system and that is its basic advantage, although for some people it is a disadvantage. In addition, the network of this type scattered around the world without data alone, is in its complexity transparent, that is to say open. In fact, everyone can track all transactions on an ongoing basis and also those that have already taken place without exception, including the first transactions in the network at all.

Private blockchain

It is certainly certain that a private blockchain is a chain that falls under the direct authority of an entity, company or person. Access to such a chain have only those who have issued such permissions, it is a centralized network or from the English language permissoned.

Anonymity and privacy

Such a database certainly retains partial privacy in the sense that it is somebody’s personal property and also concerns somebody’s personal affairs. However, in certain matters, it is possible to be supervised by the State of a specific and public institution, because it is not dispersed.

The anonymity aspect itself does not exist here at all, so it is a private blockchain. All users of such a network, and often there is only one participant, are authenticated and also verified, operate entirely under their own identity.

Openness and transparency

A closed database cryptographically encrypted, called a private blockchain, is not completely open or transparent. Nobody has the possibility to observe the course of the transaction from outside.