Ethereum Smart Contract Development

Private blockchains

Private blockchains take advantage of blockchain technology by setting up private groups that can verify transactions internally. Write permissions are centralized, like traditional database management systems. Read permissions may be restricted or public to a certain extent. These blockchains have their niche use cases because of their scalability, compliance to data privacy rules, and other regulatory guidelines. Such blockchains can reduce cost but are not disruptive. MONAX and multichain are prominent players in the private blockchain space.