Definition ∞ A private blockchain ledger is a distributed database system where access and participation are restricted to a select group of authorized entities, unlike public blockchains that are open to everyone. While still using cryptographic principles and distributed consensus, a central authority or consortium typically controls who can join the network and validate transactions. This setup offers enhanced privacy, faster transaction speeds, and greater control over network governance. It is often utilized by enterprises for internal record-keeping or consortium-based operations.
Context ∞ The discussion surrounding private blockchain ledgers often centers on their suitability for specific enterprise use cases where confidentiality and controlled access are paramount. The situation involves organizations exploring these solutions for supply chain management, interbank settlements, and secure data sharing. News frequently reports on pilot programs and successful implementations in traditional industries, contrasting their utility with the open, permissionless nature of public blockchains. A key debate concerns their degree of decentralization compared to their public counterparts.
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