Developing private blockchains is an ideal solution for most businesses – especially banks and other organisations where smooth processes and absolute security is key. When you run a private blockchain network, you get the peace-of-mind that no one can join the network and perform transactions, unless they’ve been given an invitation validated by the network initiator.
In a private network, participants are in charge of who is and isn’t allowed in, so you can rest assured that no members of the public or ill-meaning participants are able to see what’s happening in your blockchain.
Private blockchains are decentralised peer-to-peer networks, where transactions happen quickly while remaining highly confidential. Commonly used in enterprise software, industries such as finance, healthcare and legal often rely on the development of private blockchains for more security, scalability and efficiency.
At Blockchain Australia, we help organisations to leverage private blockchains to optimise their business processes. With experience in enterprise-grade solutions, our certified developers utilise state-of-the-art platforms such as Quorum to develop high-performance private blockchains that meet your business’ goals.
The primary difference between public and private blockchains is that private networks are not open for everyone on the internet to join. Instead, authorisation from the network starter is required. In a private network, the idea is that all participants trust each other, so no consensus mechanism (which can slow things down) is needed.
In public – or permissionless blockchains – no permission is needed to read and write transactions. It is completely decentralised and anyone can take part in the consensus.
Public blockchain networks were the first ever type, with Ethereum being a well-known example. Since this development, people began working on other blockchain variations to get rid of issues such as lack of speed and privacy.
Our development and consulting teams analyse your concept and network it to our relevant partners, who can make sure your idea is viable and anticipate any roadblocks. We’ll then start to understand your project and funding needs to find the right solution.
A whitepaper is an essential part of your project, functioning as the blueprint and marketing material to make sure your application is a hit. Our specialists know how to develop a whitepaper so that it stands out from the crowd.
We work on wireframes during the design phase, always putting user experience at the forefront. Once these are approved by you, end-to-end development takes place. This is followed by testing and optimising.
Your product is launched alongside a dashboard so you can track its performance. After launch, we’re on hand to assist with marketing and any technical support you may need.
Private blockchains are perfect for enterprise innovation. Merging the benefits and characteristics of distributed ledgers, with the access-only nature of private blockchains, some advantages of private blockchains include:
From gaining interest from relevant investors through to launch and testing, we’re with you for the entire process.
Before diving into anything, we assist with proof of concept to ensure you’re set up for success.
With a team of Australia-based and worldwide blockchain consultants, you get access to expert advice.
Your private blockchains can be customised to your business model and seamlessly integrated with existing processes.
When you work with Blockchain Australia, you get the added support of our network of emerging blockchain experts. Located around the world and each with their own background and experience, get equipped with the strategy, support and funding you need to drive your project forward.
We’ve worked with innovative startups through to global enterprises ready to transform their processes. With the technology and expertise to support your growth, join our suite of happy clients.
A business transformation based on the technology of the future isn’t far away. Just get in touch with our Australia-based team of blockchain consultants for a free chat about your project idea and how we can turn it into a reality.
Got a quick question? Give us a call to speak with one of our blockchain consultants.
1300 462 562Unlike public blockchains, private blockchains do not work with a consensus mechanism. That’s because it’s assumed that all members trust each other. Private blockchains are based on distributed ledger technology, but are not accessible to the public. Instead, access must be granted.
Private blockchains, like public blockchains, function as append-only ledgers. That means that participants can add records, but existing records cannot be altered or deleted. This is known as “immutable”.
Private blockchains are known to be more secure than their public alternatives, since members of the public cannot access the network without permission. It’s important to remember that private blockchains actually let the middleman back in, to a certain extent, so it lacks some of the decentralised security as public blockchains. There are pros and cons to both when it comes to privacy, and our team can help you develop the most appropriate solution.
Founder and CEO, Blockchain Australia™
