A consortium blockchain is a type of blockchain network where multiple organizations or entities work together. It is decentralized in nature, with control shared among the member organizations. These organizations typically have vested interests in a particular industry or project, and choose to collaborate by forming a consortium blockchain.
In a consortium blockchain, access to the network and participation in the consensus process is limited to the member organizations. This makes the network more efficient and allows for faster transaction processing compared to public blockchains. While consortium blockchains are more centralized than public blockchains, they still maintain some level of decentralization compared to traditional centralized systems.
Overall, consortium blockchains offer a middle ground between public and private blockchains, providing a balance of control, efficiency, and transparency for organizations collaborating on a shared blockchain network.
