SparkDAO is an investment research group focusing on the field of digital encryption, with members distributed all over the world. We are keen to explore the underlying logic and cutting-edge tracks in the field of digital encryption. Welcome to our Twitter: sparkdao_io

There have always been big differences over whether the public chain or the private chain is the real blockchain. Fans on both sides have been arguing.Most people see private blockchain as a promising technology paradigm, but it lowers expectations for blockchain technology.

On the other hand, the private chain field has a mature community of committed believers.In their eyes, the private blockchain has the potential to unlock the world.Private chains create new digital assets, which is a new philosophical way of thinking.

Is private chains the new paradigm?

No, it's not.In short, a private blockchain (network) represents a set of nodes connected to a distributed ledger, where participants are granted specific rights and restrictions based on a defined consensus.

From a node perspective, adopting a partial distributed ledger model means that all supply chain value will be stored in all nodes of the network during the transaction and attached to the blocks of the main chain.

So far, the same is true for the public bitcoin blockchain. However, the next step is crucial.Since the private blockchain is only prohibited by some members, we can say that it is exclusive, so the network needs to establish general rules and restrictions that all members must follow.

If a private chain creator can somehow write code to support all the underlying operations of an organization, it becomes easy to build the organization using a modular architecture and thus achieve low transaction speed and trust for high performance in the network.

Due to the private chain configuration, it can assign a large number of different roles and responsibilities to the people who make up the enterprise.Therefore, anyone needs to be responsible for their own actions.Since the private chain members are validated entities, they do not have the wrong behavior.A strict compliance approach ensures that all nodes are verified and that all wrong ways will be countermotivated. Public blockchain can't guarantee that.Because the trust of the private chain network depends on the credibility of the authorized nodes, the network is self-sustainable.

The private chain that just needs to land

After seeing the power of private consensus, there are some scenarios that are very prominent suitable for the private chain.

For example, if the blockchain network is used to manage transactions in agricultural markets, then multiple parties (producers, farmers, regulators) all play a crucial role in farmers' transactions.While people are also able to perform this type of transaction on a public blockchain, a private blockchain allows for varying degrees of transparency and security during the validation process.Not all parties involved need to know everything.It is essential to unite them in the blockchain through the network they trust.

Contrary to public blockchain, private blockchain provides great organizational value.This is determined by the semi-centralized structure that the user can impose on the consensus mechanism and the roles and responsibilities of each node.Therefore, in the future, the development potential of the private chain can still be seen.

*The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of SparkDAO. Every investment and trading move involves risk, you should conduct your own research when making a decision.