Private blockchains run on closed networks and are best suited for private businesses and organizations. To customise their accessibility and authorization preferences, network parameters, and other critical security features, companies use private blockchains. A private blockchain network is managed by a single authority.

Bitcoin and other cryptocurrencies arose from public blockchains, which also contributed to the widespread adoption of distributed ledger technology (DLT). Additionally, public blockchains aid in the elimination of certain challenges and issues, such as security flaws and centralization.

Permissioned blockchain networks, also known as hybrid blockchains, are private blockchains that grant special access to authorised individuals. Organizations typically set up these types of blockchains to get the best of both worlds, and it allows for better structure when determining who can participate in the network and which transactions can be made.

04.

Consortium blockchains, like permissioned blockchains, have both public and private components; however, multiple organisations will manage a single consortium blockchain network. Although these blockchains are more difficult to set up at first, once operational, they can provide greater security.