A private blockchain is a permissioned network where access is restricted to a select group of participants, offering enhanced privacy and control over data. Unlike public blockchains, where anyone can join and participate, private blockchains allow businesses to maintain confidentiality while benefiting from the transparency and security features of blockchain technology. Private blockchains are often used in enterprise solutions for supply chain management, finance, and healthcare, where sensitive information needs to be protected. They provide faster transactions, lower costs, and customizable governance mechanisms, making them ideal for businesses with specific security and compliance requirements.
Jack Farris
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