What is Private Blockchain ?

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Private Blockchain why it is different from Public Blockchain


Private Blockchain is Governed by Single Entity.distributed Technology can be used in the Organization without Making organization data Public in the Private Blockchain.

This Means in the Public Blockchain anyone can read/write or audit  But this absolutely opposite
in the Private Blockchain. Only the User who has the Permission to Read / write or audit can do this these actions

In private Blockchain one ot more entities that control the Network which can override /delete command on the Blockchain if needed

Example for Private Blockchain is Hyperledger

Private Blockchain is Faster and cheaper but less secured compared to  Public Blockchain and it  also closed chain not Like Public blockchain



Point you need to know about  Private Blockchain 


  • Private Blockchain is Distributed ledger but it is not decentralized
  • Only those who have permission can run the Full node and start Mining
  • Only permisison Granted Users can review /Audit the blockchain in the Blockchain Explorer
  • The transacation can be made only by the user who have Permission
Location: Malaysia

Comments

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