A private blockchain is a permissioned blockchain network where only authorized users can access and participate in the network. Unlike public blockchains, private blockchains provide more control, privacy, and faster transaction speeds. These networks are ideal for enterprises looking to maintain confidentiality while benefiting from blockchain’s transparency and security. Private blockchains are commonly used for supply chain management, internal financial systems, and enterprise resource planning (ERP). They allow businesses to protect sensitive data while still leveraging blockchain’s decentralized features to ensure accountability and traceability.
Jack Farris
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