What is private blockchain development, and how does it differ from public blockchains?
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Private blockchain development entails building restricted, permissioned networks in which only authorized users may join. Unlike public blockchains, which are open and decentralized, private blockchains are controlled by a single company or set of businesses. This makes them speedier, more scalable, and more suited to corporate applications like supply chain management, finance, healthcare, and identity verification.
Key difference:
Private Blockchains - Controlled access, more privacy, and faster transactions, specifically intended for corporate operations.
Public Blockchains - Open to anyone, decentralized governance, completely transparent, suitable for cryptocurrency and community-driven projects.
In short, private blockchains prioritize efficiency, security, and company control above complete decentralization.
