A
private blockchain is a type of blockchain that restricts access to authorized participants only. Unlike public blockchains, which are open to anyone, private blockchains are controlled by a single organization or consortium. They offer greater privacy and security, making them ideal for enterprise use cases, such as supply chain management, healthcare, and financial institutions. Private blockchains enable businesses to maintain control over their data while still benefiting from blockchain’s transparency and immutability. They provide faster transaction speeds, lower costs, and the flexibility to set customized permissions and governance.
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