#2 i dare you to paraphrase this?
Trust is Needed: Unlike public blockchain that doesn’t require you to trust anyone, the integrity of the private blockchain network relies on the credibility of authorized nodes. They must be trusted to verify and validate authentic transactions. Additionally, the validity of records cannot be independently verified. External actors have to trust a private blockchain network without having any form of control over the verification process. That is why there needs to be a degree of trust and reliability over authorized entities.
Security: With fewer nodes, it is much easier for a ‘bad actor’ to gain control of the network and endanger the entire network. A private network is much more vulnerable to risks of hacks and data manipulation
Centralization: The private network must be built and maintained by the project (or business) or a consortium of industry players, which include maintaining a complex Identity and Access Management (IAM) system for the users. This often leads to centralization, which is also something we specifically try to avoid with blockchain!
- Anonymous8 months ago
- micksmixxxLv 78 months ago
I dare YOU to do your own homework.