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Why Build Private Blockchain Application
A general blockchain is an open source application accessible to anybody on the internet. They are generally public. In contrast, a Private blockchain is a network which is not accessible to anybody. It is restricted network access to only permitted members. A requirement to build private blockchain application arises when the utility of the technology is for internal use cases of organization or enterprises.
Features of the Private Blockchain Application
Although the operation and basic workflow related to the technology is, all the same, being different in terms of accessibility makes their utility different. While (Public) blockchain is oriented towards online users, Private blockchain is for enterprise level application restricted strictly within the members. Here are features of a Private Blockchain.
- A user in Private Blockchain system requires permission to access, read and add data on the blockchain.
- It has Cryptography as a security measure.
- Private blockchain needs less processing and computational power to verify a data.
- Access rights in private blockchain can be made fully or partially limited.
- As Nodes in private blockchain are well connected, faults are fixed quickly and effectively.
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What are the Enterprise Advantages to Build Private Blockchain Application
Business and Technology experts understand private blockchain applications more as Distributed Ledgers, shared databases, decentralized internal network and so on. Although, known by several terms they offer the same fundamental benefits, which might differ as per the customized use cases. Here are the advantages to built private blockchain applications.
- Private Blockchain will let financial enterprise ecosystem to be at par regulations like KYC, HIPAA, and AML.
- Effective implementation of an application that connects internal units to public or customers.
- Building private blockchain application lets enterprise leverage its trustless and transparent foundation for internal and B2B use cases.
- Private Blockchain integrates operational mechanisms with cryptographic features like Identity Management and un-temperable data.
- The technology is faster and cheaper to implement while prioritizing privacy of the organization.
Technology Expertise of Oodles Blockchain
IOTA Stellar Ethereum Hyperledger
Oodles Blockchain as Efficient Private Blockchain Application Developer
Building a secured private blockchain requires good experience of core programming with a broad scope of development and technology usage, Oodles Blockchain as a strong portfolio can develop private blockchain solutions.
- Security is a benchmark of solutions by Oodles Blockchain.
- Our development methodology to build private blockchain application follows strict models to eradicate any possibilities of loopholes in the process.
- At Oodles Blockchain our constant endeavor is to break into new technology and leverage them to create robust applications.
- Blockchain applications we develop have a balanced structure of governance and operations.
- Oodles Blockchain ensures cost-effective private blockchain applications.
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