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A private blockchain is a permissioned, centralized blockchain network where access is restricted to authorized participants. Unlike public blockchains, which are open to anyone, private blockchains are often used by businesses to maintain greater control over their data and operations. These blockchains offer enhanced privacy, scalability, and performance while still leveraging the core features of blockchain technology, such as security and immutability. Private blockchains are often used for enterprise applications, including supply chain management, finance, healthcare, and identity verification, where sensitive data needs to be shared securely among a specific group of participants. With customizable governance, faster transaction processing, and reduced energy consumption, private blockchains allow businesses to take full advantage of blockchain technology while maintaining privacy and control over the network.

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