What is a Private Blockchain?

A private blockchain is a blockchain network restricted to a specific group of users. Unlike public blockchain networks, such as Bitcoin or Ethereum, where anyone can participate, access to a private blockchain is controlled by a central authority or a set of rules set by the network administrator. Private blockchains are typically used when a group of organizations or individuals need to share data or conduct transactions in a secure and trusted environment without a centralized intermediary. They can also…