Blockchain technology transforms both financial and commercial. Private Blockchains are designed for organizations and run only by organizations. Unlike traditional blockchain networks, a member needs to receive an invitation to access the system, there is network authentication and some kind of central power. Although it still has significant benefits and features of the social blockchain.
Benefits of Own Blockchain Development:
• Market Ready
• Cost-efficient
• Easy to Customize
• Market as your Own
• Rigorously tested and proven platform
• A Proven and Tested Platform
• Highly scalable platform
• API layer for integration with 3rd party services
• Modular Architecture
• Customizable platform for specific features
• Decentralized ledger for added security
• Two Factor Authentication and Alerts
Key Feature of Own Blockchain:
• Access – In this type of blockchain read and write is done upon invitation, hence it is a permissioned blockchain.
• Decentralized Vs Centralized – A private blockchain is more centralized.
• Order Of Magnitude – The order of magnitude is more as compared to the public blockchain.
• Transactions – Transaction per second is more as compared to a public blockchain.
• Full Privacy – It focus on privacy concerns. Private Blockchain is more centralized.
• High Efficiency and Faster Transactions – When you distribute the nodes locally, but also have much less nodes to participate in the ledger, the performance is faster.
• Better Scalability – Being able to add nodes and services on demand can provide a great advantage to the enterprise.

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