Public blockchains are decentralized networks where anyone can participate and view the transactions on the blockchain. They are useful in web3 for providing transparency, security, and immutability to applications and transactions.
Private blockchains, on the other hand, are permissioned networks where access is restricted to certain participants. They are useful in web3 for ensuring privacy, control over data, and scalability for enterprise applications.
In web3, public blockchains are commonly used for open and transparent applications like decentralized finance (DeFi) and non-fungible tokens (NFTs), while private blockchains are preferred for businesses looking to leverage blockchain technology for internal processes and collaborations. By understanding the differences between public and private blockchains, developers and businesses can choose the option that best fits their needs in the web3 ecosystem.
