Setting Up Ethereum Private Chain
In this chapter, we will move our focus to Private Ethereum. Private blockchains are designed to be accessible only to a select group of participants, rather than being open to the public. The purpose of private blockchains can vary depending on the specific use case and requirements of the participants involved. Some common purposes of private blockchains include the following:
- Business and Enterprise Use
- Consortium and Multi-Party Collaborations
- Data Privacy and Security
- Customized Governance and Consensus Models
- Regulatory Compliance
Private blockchains can offer advantages to developers in terms of customization, flexibility, faster transactions, enhanced privacy, reduced regulatory burden, controlled network governance, and a conducive testing and development environment, making them suitable for specific use cases and development scenarios.
As blockchain technology has matured, enterprises have started to adopt...