Private Blockchain

What is a private blockchain?

Private Blockchain Definition: A private blockchain is a ledger or network managed by an administrator and individuals or parties that must be approved to join and access the network. A permissioned ledger or blockchain is another term for a private blockchain, where users must provide information to gain access to the platform.

This typically requires reliance on a third party to use the network. Private blockchains are more centralized than public platforms, which allows users to distribute nodes more locally, which is faster. However, there are fewer overall, with the option of adding more on demand.

Comparewise Crypto Banner 728X90

Other Crypto Terms:

ReviewsBrandsCoins
Uphold Review
Netcoins Review
CEX.io Review
BlockFi Review
Keepkey Review
BitBuy
CoinSmart
Coinbase
Newton
Crypto.com
Litecoin
Near
STEPN
Cosmos
OKX

comparewise

Didn’t find the information you were looking for?

Send us your questions and we will get back to you.

Car loan?
Personal Loan?

Top deals await you just a short
application away!