Blockchain has penetrated every sector and every industry today; it isn’t reliant on just one industry; the financial industry which many thinks it is. Blockchain on art interested very few until 2017 it experienced a boom due to cryptocurrencies and ICOs.
Both, added to the great interest by this “technology” on the part of the companies coming from different sectors propelled their popularity considerably.
The uniqueness of the Blockchain Technology
There exist many technologies termed “Blockchain.” Within the chain of blocks, the immutable decentralized transactional database is one of the fundamental elements of any public blockchain.
Don’t forget that there are public and private versions, open source and closed code adapted to specific solutions or for general use.
To understand it better, let’s briefly explain the types of block chains that exist today:
It is a chain of blocks where everyone sees the transactions that occur. When a transaction occurs, it will appear in the record. At that time, everyone can engage in the consensus process.
For example, the first of all blockchain, bitcoin, is composed of a protocol, a token or a unit of account (bitcoin) and a blockchain, the transactional database.
In general, public blockchain usually has these three components, to operate in decentralization.
Ethereum is an example of a public blockchain that has these three components, and it houses interesting platforms like the 0xowns.art which is an ethereum art collective platform.
0xowns.art is an Ethereum art collective platform focused on the transfer of art ownership without an exchange of assets or digital currencies. This platform ensures that artists are working with blockchain to profit from their skills.
This chain of blocks does not allow the participation of any person. Only allows a fixed number of nodes (computers connected to a blockchain network using the P2P protocol), which must be given permission.
This type of blockchain is used in most cases within a company just like 0xowns.art. The access to it and the execution of transactions is vetoed.
Private blockchain doesn’t need a token to work since the trust lies in identified nodes. This data is vital since it makes the difference concerning the nodes of public blockchains that are anonymous.