What Is a Consortium Blockchain?
Consortium blockchains are typically created by corporations that want to leverage the power and benefits of a blockchain but do not wish to have their information publicly available on a more open and transparent one, like Ethereum.
Public blockchains, like Ethereum and Bitcoin, are permissionless, decentralised, and accessible to anyone. A private blockchain is designed to service a single entity or the creator of the blockchain. They are typically more centralised, and only certain people can access them.
Consortium blockchains are a middle ground between public and private blockchains. They act as a blockchain that multiple corporations can use to openly exchange information while having all the benefits of blockchain security. Only corporations that are part of the consortium have access to a consortium blockchain, and the information exchanged remains private amongst them.
Consortium blockchains allow for more decentralisation compared to private blockchains because every corporation involved runs and supports the network.