It has been argued that blockchains can foster both cooperation (i.e., prevention of opportunistic behavior) and coordination (i.e., communication and information sharing). Early concern over the high energy consumption was a factor in later blockchains such as Cardano (2017), Solana (2020) and Polkadot (2020) adopting the less energy-intensive proof-of-stake model. With the increasing number of blockchain systems appearing, even only those that support cryptocurrencies, blockchain interoperability is becoming a topic of major importance. One experiment suggested that a lightweight blockchain-based network could accommodate up to 1.34 million authentication processes every second, which could be sufficient for resource-constrained IoT networks. Lightweight blockchains, or simplified blockchains, are more suitable for internet of things (IoT) applications than conventional blockchains.
Permissioned (private) blockchain
The Blockchain Table in Oracle 21c database is a centralized blockchain which provide immutable feature. The reason for this is accusations of blockchain-enabled cryptocurrencies enabling illicit dark market trading of drugs, weapons, money laundering, etc. It has been argued that permissioned blockchains can guarantee a certain level of decentralization, if carefully designed, as opposed to permissionless blockchains, which are often centralized in practice.
Blockchain is seen as a pivotal technological advancement of the 21st century, with the ability to impact organizations at strategic, operational, and market levels. The exact workings of the chain can vary based on which portions of centralization and decentralization are used. ] Usually, such networks offer economic incentives for those who secure them and utilize some type of a proof-of-stake or proof-of-work algorithm. Anyone with an Internet connection can send transactions to it as well as become a validator (i.e., participate in the execution of a consensus protocol).