Ethereum Smart Contract Development

Consortium blockchains

Consortium blockchains operate within a group of stakeholders. Unlike public blockchains, they don't allow any random person with access to to the internet to participate in the process of transaction verification. Consortium blockchains are highly scalable and provide transaction privacy. These blockchains are mostly used in the banking and corporate sector, where various banks form a consortium to interact in their own intra-network to replace legacy systems, reduce transaction costs and data redundancies, and simplify document handling using smart compliance mechanisms.

Bankchain is a consortium that has come together for building and exploring blockchain solutions. The member list can be retrieved from the following ...