With the need for privacy and confidentiality, a major focus is on developing private distributed ledgers that can be used within a group of trusted participants. As public blockchains, due to their open and comparatively less secure nature, are not suitable for industries such as finance, medicine, and law, private blockchains hold the promise to address this limitation and bring end users one step closer to reaping the benefits of blockchains while meeting all security and privacy requirements.
Public blockchains are less secure because generally, they do not provide privacy and confidentiality services. Private blockchains allow the participants or a subset of participants to be in full control of the system, thus making ...
