Private Blockchain

A private blockchain is a type of digital ledger where only specific, authorized participants can access and verify transactions. Unlike public blockchains such as Bitcoin, which are open to anyone, private blockchains are restricted to a select group, often within an organization or consortium. This setup allows for faster transaction processing, enhanced privacy, and more control over data. It is commonly used by businesses to securely share information internally or with trusted partners, ensuring transparency and immutability while maintaining confidentiality.