Public blockchains are permissionless blockchains, allowing universal access to read, write, and validate information stored in the network. This permissionless
nature also implies the intentional absence of a central coordinating authority. Instead, the coordination of users and management of the blockchain is
embedded in the software protocol and complemented by incentive mechanisms,together commonly referred to as cryptoeconomics.
Some common features of public blockchains are decentralization, censorship resistance, tamper resistance, transparency, and anonymity. All of these features have a high probability of attainment, but none are guaranteed, as they depend on the correct coding and functioning of the blockchain protocol, cryptoeconomic design, behavior of all blockchain participants, and external factors that cannot be encompassed in the contracts.
Foreseeing a universal, one-size-fits-all blockchain protocol, whether it is a public, private, or hybrid, is difficult to imagine. What is more realistic, and in line
with the evolution observed in the market, is the specialization and customization of blockchain protocols to the specific needs of certain types of data and use cases, additional protocols allowing the interoperability of blockchains, and the development of applications and interfaces that operate on top of blockchains. Lastly,developments are likely to allow blockchains to permeate and eventually disrupt brick and mortar businesses and institutions, much like the internet disrupted traditional business.