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Private blockchain is advaned to the public blockchain concept. Here the authority of read/write and moderating access have been issued to a single entity or a group of people. As there exists a central authority in private blockchain, it breaks the prime nature of public blockchain ” Decentralization”. Hence this kind of ledger technology will be known as distributed data ledger interoperates with cryptography functionalities.
As the private blockchain breaks the concept of “Decentralization” It breaks the common difficulties that we used to face while applying the blockchain concept for private usage.
1. No one has the rights to read/ write/ edit a transaction or a consensus unless he/she has the permission to do it. Hence this type of blockchains is known as Permissioned blockchain.
2. The time taken to verify a single transaction will take less time, as it eliminates the multiple verifications from multiple nodes.
3. Fully Secured. Only if we don’t allow third parties to access the network.
Ref : Difference Between Private and Public Blockchain Development
As the online business gets dumped with a lot of data that are difficult to handle with, results in finding secured storage. The private blockchain is the best solution for enterprises, industries, and corporates which generates a huge amount of transactional data on daily basis. Banking, supply chain, E-commerce,Telecom and Healthcare are the best example. So if you are a businessman, and are wishing to keep your business data more secured under a closed network, then you can implement private blockchain.
BITDEAL – PRIVATE BLOCKCHAIN DEVELOPMENT COMPANY.
We Bitdeal- a reputed blockchain development company, who are the monopo
ly and the one who initiated to provide blockchain services for the first time in South Asia. We are having a troop of expert blockchain developers, who are familiar with custom blockchain application development for different types of industry verticals.
At bitdeal, you can expect the following Blockchain services too.
1. POC Blockchain Development
2. Smart Contract Development
3. Hyper ledger Development
4. Dapps Development
5. Blockchain Consulting Services
6. Private/ Public Blockchain Development
For improved results, you can hire our dedicated blockchain developers on partly or hourly basis.
If you want to make your business more dynamic and to get digitally transformed with blockchain technology Get connected with bitdeal now!
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Hi this is Sam, Working as Technology advisor and blogger at bitdeal. Having 4+ years of deep understanding and experience in cryptocurrency trading industry. I keep on hunting the new trends and technologies that are related to crypto's as well as blockchain Industry. Stay tuned with me at bitdeal, to get interesting updates regarding bitcoin, cryptocurrencies and other emerging blockchain technologies
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