## Private Blockchain
A private blockchain is a distributed ledger technology (DLT) that restricts read and write access to the network to pre-authorized users. It runs on a decentralized peer-to-peer network, allowing participants to securely store, share and update transactional data without relying on a central authority. Unlike public blockchains such as Bitcoin or Ethereum, private blockchains are not open for anyone to join – instead they are designed for use by specific organizations or groups of individuals with permissioned access granted by an administrator.
Private blockchains provide numerous advantages compared to traditional centralized databases, including increased security through cryptography, improved transparency when it comes to auditing and tracking transactions and lower costs associated with maintaining infrastructure. They also offer faster transaction speeds than their public counterparts because the validation process does not need to be repeated across multiple computers. Additionally, privacy is maintained since only those who have been given permission can view the data stored on the blockchain.
In addition to being used internally within companies or other organizations, private blockchains may also be deployed as part of consortiums between several entities in order facilitate intercompany collaboration at scale. This type of DLT has already seen widespread adoption in various industries such as healthcare where secure data sharing between different stakeholders is essential for providing quality patient care while still protecting personal information from unauthorized third parties.
Private blockchain networks are becoming increasingly popular due to their ability offer enhanced levels of security and control over shared digital assets while still taking advantage of many benefits offered by distributed ledger technologies like immutability and decentralization
