Private (permissioned) blockchain
Definition
A network where participation is restricted to known, approved nodes. Used by banks and supply chains for transaction settlement. Records are not public but are obtainable through legal process directed at the operator.
Related terms
- Account model
- Ethereum's approach, where each address holds a running balance incremented or decremented by transactions. Simpler to reason about but less transparent about...
- Block confirmation
- The count of blocks added to the chain after the block containing a specific transaction. Higher confirmation counts mean greater computational cost...
- Distributed ledger
- A transaction record replicated across many independent nodes. Each node holds a full or partial copy and validates new entries against the...
- Public blockchain
- A permissionless network where anyone can read the ledger, submit transactions, or run a node. Bitcoin and Ethereum are public. The ledger...
- UTXO (Unspent Transaction Output)
- Bitcoin's accounting unit. Each UTXO is a discrete chunk of value from a prior transaction's output. Spending it consumes it entirely; change...
Explained in
- Blockchain Fundamentals for InvestigatorsA network where participation is restricted to known, approved nodes. Used by banks and supply chains for transaction settlement. Records are not public but ar...