All About Private Blockchain

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Today I want to write about private blockchain and what this type of blockchain really involves, and as I do we will begin to see how different it is from public blockchain which I wrote about earlier I will really like us to grasp what this blockchain is all about.

What's A Private Blockchain

A private blockchain is a blockchain designed specifically for a participant or a particular organization. This is quite different from a public blockchain in that they is certain restrictions on accesibililty of private blockchain it's not like public blockchains like the bitcoin blockchain that's open to everyone or could be accessed by all.

Private blockchain it's designed I'm a way it can only be accessed by individuals or specific entities for specifies goals.

Also private blockchain is not permissionless which is one key feature of a public blockchain which grants everyone wanting to join the network free access as there is no need to ask for permission but this really is not how a private blockchain operate they are permissioned and quite different from public blockchain in this regard.

Before a user is able to join the network such a user must first be granted permission before they could join the blockchain as failure to do this the user can't access the network, this is really crucial as it helps to improve the security of the network.

A private blockchain is also a blockchain that is naturally fast in handling transactions, I mean there is no surprise there since much users are not granted access it makes it possible for it to process the transaction of the few users in the network with a decent speed percentage.

Since the nodes connected on this network is fewer it makes it easier for the network to proceed transactions at good speed rate.

Private blockchain also has a wonderful governance structure that's to say that the blockchain being private mean therefore that it is actually centralized or partly decentralized it is not a fully decentralized network like public blockchain which helps decision to be made much faster in a private blockchain since they are only a few approved personals.

This blockchain is truly wonderful and it's unique in it's design in that they offer a balance between centralized and fully decentralized system and private blockchain ensures the users has control privacy meaning only you have access to you information and they are able to do and while exploiting the full benefit of blockchain technology

Feature Of A Private Blockchain

1).Private Blockchain are permissioned blockchain network which means we need permission to access the network

2). private blockchain offers it users next level privacy

3). Private blockchain has a good performance ratio and it's speedily process transactions.

4). Enhanced security

5). Limit the number of people who could enter the chain there filtering malicious users while making full use of blockchain technology.

Conclusion

Ofcourse of the two blockchain we have, the private and public blockchain our choice could depend on the purpose and what we hope to achieve this should determine our preference as they all have their advantage and disadvantages personally I think we should properly examine the two before making a conscientious decision.