Recently, someone asked me how many types of blockchain there are, and I realized that many people are actually not very clear about the classifications of blockchain. In fact, if we talk about the basic forms of blockchain in Chinese, there are mainly three types in the market. Today, I will briefly sort them out.

First, let's talk about the most commonly heard public chains. You can think of public chains as the current Internet—completely open, anyone can participate. Examples like Bitcoin, Ethereum, and Litecoin are typical representatives of public chains. Their characteristics are transparency and decentralization; all transactions are publicly recorded, and anyone can verify them. That’s why they are very difficult to tamper with. The downside is that they are relatively slower because they require consensus among many network participants.

Next is enterprise chains, which are completely different. Enterprise chains are actually a type of private, permissioned blockchain, more like an internal private network within a company. Ripple and Hyperledger are representatives of this type. The advantages of enterprise chains are speed and efficiency, since only authorized participants can join, and the consensus process is simpler. Also, enterprise chains don’t necessarily need to use cryptocurrencies for incentives, which makes them easier for many traditional companies to accept.

The third type is hybrid chains, which have become quite popular recently. Hybrid chains basically combine the advantages of public and private chains—some data is open and transparent, while other parts can be permissioned for privacy. This way, they can retain the decentralization features of blockchain while also meeting the privacy and efficiency needs of enterprises.

To briefly compare: public chains are fully open, anyone can read and write, but are slower. Enterprise chains require permission to participate, are faster but more centralized. Public chains use cryptocurrencies to incentivize participants, while enterprise chains may not need to. In terms of security, public chains are harder to attack because of the large number of participants, whereas enterprise chains rely on trusted intermediaries.

Actually, choosing which form of blockchain in Chinese mainly depends on the application scenario. If you need completely transparent financial transactions, a public chain is most suitable. If it’s about internal enterprise process optimization, an enterprise chain is enough. Hybrid chains are suitable for projects that require both openness and privacy. Many new projects are now experimenting with hybrid chains, and it seems to be a promising direction.