Myodov’s Message: public/private blockchain and nodes

Question: So a privately owned node in a private blockchain still needs 1m UTN, right? But transaction fee’s would be eliminated. Furthermore, public chain still has value as it is some what decentralized and a public ledger so ‘trustworthy’, right? So for those kind of (public) applications it makes sense that UTN’s demand can rise. I’m interested in how Universa sees the ratio between public and privately owned blockchain in the future of blockchain as a whole.

Any private network is called the “private” for a reason – because it is someone else launching and using it; maybe, even without the developers knowing it. Like, the Bitcoin or Ethereum codebase owners do unlikely know about most of the hundreds-or-maybe-thousands private networks running on top of the Bitcoin/Ethereum codebase. These runners of those networks, they build their private networks.

But on the Universa side, we build the public blockchain. This is what we are doing; Universa is our baby, and we are bringing it up; we are not “an external R&D contractor for major corporations” to solve their internal data storage problems. And as long as we discuss any official collaboration/partnership/cooperation of Universa with major companies – (as you, likely, already know our attitude from the July CEO blog post) everything we do is intended to create the demand. The forms of that may vary; the contract details may vary (and often may be under NDA); the meaning and the purpose stays the same.

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