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Consortium Blockchain

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Table of contents
    1. 0.2. How Consortium Blockchains Work
    2. 0.4. Common Use Cases
    3. 0.6. Benefits of Consortium Blockchains

A consortium blockchain is a type of permissioned blockchain where control is shared among a group of pre-selected organizations, rather than being fully public or controlled by a single entity. It blends elements of both private and public blockchains to offer better scalability and collaboration.

How Consortium Blockchains Work

In a consortium blockchain, only a set group of nodes—usually representing companies or institutions—have the authority to validate transactions and maintain the network. Access to data can be restricted to certain participants, ensuring both security and privacy.

Common Use Cases

Consortium blockchains are ideal for industries that require cooperation between multiple trusted entities, such as banking, supply chain, and healthcare. For instance, several banks might form a consortium blockchain to settle interbank transactions more efficiently.

Benefits of Consortium Blockchains

They offer improved speed and scalability over public blockchains while maintaining more decentralization than a single-entity private blockchain. The collaborative structure also fosters trust and accountability among participants.