Definition ∞ Consortium blockchain architecture describes a type of distributed ledger technology where multiple organizations collectively govern and operate the network. Unlike public blockchains, access to validate transactions and participate in consensus is restricted to a pre-selected set of entities. This structure offers a balance between the decentralization of public chains and the centralized control of private chains. It provides enhanced privacy, higher transaction speeds, and greater regulatory compliance for specific industry use cases.
Context ∞ Consortium blockchains are frequently utilized in enterprise applications, supply chain management, and interbank settlements where participants require shared control and verifiable data exchange. The debate often concerns the degree of decentralization and the potential for collusion among the governing members. Future developments aim to enhance interoperability between different consortium chains and integrate more sophisticated governance models.
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