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Public in this case, means, well… public. The code is viewable, as well as editable by anyone in the community. The community as a whole decides on the rules.
A private blockchain has rules and is kind of like an invite-only party. A private blockchain is usually around for a very specific purpose, and because of this, it has fewer decision-makers and is all-around easier to maintain.
While different, a private and public blockchain can happily co-exist.
0:07 what is a blockchain
0:16 what is a public blockchain
0:29 public blockchain networks
0:41 private blockchain example
1:09 private blockchain advantages
1:30 public vs private blockchains
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How Are Private And Public Blockchains Different, Private vs Public blockchain?.
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