What are the main advantages of blockchain?

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• What are the advantages of blockchain? We can start with its transparency and non-tamperability, and explain the many advantages that blockchain technology brings to enterprises one by one.
• Transparency: All participants can view the information in the blockchain, but cannot modify it. This helps reduce risk and fraud while building trust.
• Security: Thanks to its distributed and encrypted features, the blockchain is difficult to be attacked illegally. Therefore, the technology can guarantee the security of business and
• Elimination of middlemen: Blockchain is a peer-to-peer network in the true sense, which will reduce the dependence of enterprises on certain third-party middlemen. This helps to improve process efficiency and reduce the chance of data entry errors and transaction fees.
• Traceability : Since blockchain data cannot be tampered with, it is ideal for tracking and tracing or traceability of items in complex supply chains .
• Increased efficiency and ROI: Distributed ledgers will help businesses create leaner, more efficient, and more profitable processes, giving them a quick return on investment.
• Speed ​​up the process: Blockchain can speed up the process execution in multi-party transaction scenarios, without being limited by office hours, and speed up transaction processing.
• Automation: Blockchain is programmable. By programming, blockchain technology can automatically trigger actions, events and payments when conditions are met.
• Data Privacy: While information needs to be verified through a consensus process before being added to the blockchain, the data itself is converted into a series of letters and numbers via a hash code. Participants in the network cannot decipher these messages without the key.
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• What are the four types of blockchain networks?
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• Before thinking about how to build a blockchain platform, enterprises need to understand the types of blockchain network architectures and their corresponding uses.
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• Public blockchain: Bitcoin and Ethereum (Ethereum) are the earliest and most typical blockchain networks, and they are also public networks. Anyone can read the public blockchain, send transactions to the public blockchain, or participate in the consensus process of the public blockchain. Public blockchains are permissionless, every transaction is public, and users can remain anonymous.
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• Semi-private blockchain: A semi-private blockchain is run by a single enterprise that provides access to all users who meet preset criteria. While not truly decentralized, such permissioned blockchains are still extremely attractive for B2B use cases and government applications.
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• Private blockchain: A private blockchain is also controlled by a single enterprise, which decides who can read the blockchain, send transactions to it, and participate in the consensus process. However, this kind of blockchain is completely centralized, so it is only suitable for use as a sandbox environment and cannot be used in actual production.
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• Consortium Blockchain: Currently, among the four approaches to building a blockchain network, Consortium Blockchain is the most popular. In a community blockchain, the consensus process is controlled by a pre-selected group such as a corporate group. It may be possible for everyone to read and submit transactions to the blockchain, or it may be limited to participants. The Consortium blockchain is considered a "permissioned blockchain" that is best suited for commercial use.