Clear DefinitionsHybrid Blockchain
1 min read
Pronunciation
[hahy-brid blok-cheyn]
Analogy
Imagine a company building that has public areas accessible to anyone (like a lobby or a public records room) but also secure, restricted areas accessible only to authorized employees (private offices or sensitive data vaults). A hybrid blockchain works similarly, allowing some data and transactions to be public and verifiable by anyone, while keeping other parts private and permissioned.
Definition
A blockchain that combines elements of both public (permissionless) and private (permissioned) blockchains. Hybrid blockchains aim to offer controlled access and privacy for certain data or operations while still leveraging the transparency or security of a public chain for others.
Key Points Intro
Hybrid blockchains seek to balance the benefits of public and private blockchain architectures.
Key Points
Combines features of public and private blockchains.
Allows organizations to control who can access specific data or participate in certain transactions.
May use a public blockchain for aspects like timestamping, notarization, or settlement, while keeping sensitive data on a permissioned layer.
Aims for flexibility, offering privacy where needed and transparency where beneficial.
Example
A supply chain solution might use a private, permissioned blockchain for internal tracking of goods between trusted partners, but anchor hashes of this data onto a public blockchain like Ethereum for immutable timestamping and auditable proof of existence, without revealing sensitive commercial details publicly.
Technical Deep Dive
Hybrid blockchains can be implemented in various ways. One common model involves a private or consortium chain that periodically commits proofs or data summaries to a public chain. Access controls define what data is public versus private. Smart contracts can manage permissions and interactions between the public and private components. The architecture aims to provide the desired level of decentralization, security, scalability, and privacy for specific use cases by choosing which elements are handled on the public chain versus the private one.
Caveat
Designing and implementing a secure and effective hybrid blockchain can be complex, requiring careful consideration of the interaction points between the public and private components and the trust assumptions involved. The 'hybrid' nature means its properties are a blend and may not fully achieve the extremes of either pure public or pure private systems.
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