While there are many different types of blockchain networks, some are better than others for various reasons. For instance, some are faster than others, while others offer more security and scalability. Regardless of the reasons, it is important to consider how much experience you have in building and maintaining a blockchain project before deciding on a platform. Here are a few guidelines to help you make the right choice for your needs.
First, determine which type of blockchain is best for your project. There are two main types of blockchains: permissioned and public networks. Public networks are open to everyone, but are generally slower than permissioned ones. Private networks, on the other hand, are only accessible to trusted parties. While private networks are less expensive and faster than public ones, they lack the security benefits of decentralized networks. In addition, permissioned networks are faster and offer a lower cost, as well as high storage capacity.
First, consider the size of your network. If you are only looking to run a small business, blockchains may not be necessary. For large operations, you may need to store mass amounts of data, maintain multiple databases, and give many users access to data. In such cases, blockchain can provide a transparent ledger. And remember that a private blockchain does not require tokens. The size of your network will also determine the type of blockchain platform you should choose.