Public Network

Definition ∞ A Public Network, in the context of blockchain, refers to a decentralized ledger system that is open and accessible to anyone. Participants can join the network, validate transactions, and contribute to its security without requiring special permission. All transactions on a public network are typically transparent and verifiable by any participant. Bitcoin and Ethereum are prominent examples of public networks.
Context ∞ The discussion surrounding public networks often involves their scalability limitations and energy consumption, particularly for proof-of-work systems. A key debate centers on balancing decentralization and security with the need for high transaction throughput. Future developments will likely focus on new consensus mechanisms and layer-two scaling solutions to enhance the performance and efficiency of these open systems.