Private Blockchain Development

Introduction

A private blockchain network requires an invitation and must be validated by either the network initiator or by a set of rules put in place by the network validator. Every participant holds the ultimate power to choose who can and cannot be a part of the network and perform transactions. 

Advantages of Private Blockchain

  • Cryptocurrency Auditing
    • Since nobody can reach the data without permission, private blockchain is much secured than the public one.
  • ¬†Improved Efficiency
    • The way participants can share date within organizations leads to the most potential method for improving the efficiency of the back-office settlement process.
  • Glorified Databases
    • As the private blockchain network, all the dataset remain intact within the organization. Also provides the ability to slowly grow from a private blockchain network into a widely accessible public blockchain network.
  • Control the Environment
    • An organizations can take complete control over the participants of the network as they determine who can submit transactions, read transactions and take part in the consensus process.

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