Private blockchains

A private blockchain is a blockchain in which only certain individuals are permitted access. Private blockchains are also known as “permissioned” blockchains.

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Aren’t blockchains meant to be public?

At first glance, a private blockchain may seem like an oxymoron. After all, blockchains are meant to be public. They’re meant to be transparent (anyone can view transactions) and permissionless (anyone can participate). Of all things blockchains are not, “private” would seem to top the list. 

But blockchains have many known characteristics. For example, they’re:

• immutable (cannot be altered)
• fault-tolerant (another way of saying “resilient”)
•  (transactions can be traced)