Private Blockchain

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Jack Farris 29 Nov 2024

A private blockchain is a permissioned blockchain network where access is restricted to a specific group of participants, typically within a single organization or consortium.

A private blockchain is a permissioned blockchain network where access is restricted to a specific group of participants, typically within a single organization or consortium. Unlike public blockchains, where anyone can join and participate, private blockchains offer greater control and security, making them suitable for enterprises that require confidentiality and regulatory compliance. Transactions on a private blockchain are validated by trusted nodes, and data is more easily managed. This makes private blockchains ideal for use cases like supply chain management, banking, and enterprise resource planning (ERP) systems, where data privacy and efficiency are critical.