Private Blockchain

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Jack Farris 19 Dec 2024

A private blockchain is a permissioned blockchain where a central authority controls access and participation.

A private blockchain is a permissioned blockchain where a central authority controls access and participation. Unlike public blockchains, which allow anyone to join and verify transactions, private blockchains restrict access to specific users or organizations. This provides higher privacy and security, making it ideal for enterprises that require confidentiality, such as in financial services, supply chain management, or healthcare. Private blockchains offer faster transaction speeds, greater scalability, and customizable governance models, allowing businesses to harness blockchain’s benefits while maintaining control over sensitive data.