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Cryptocurrency News Articles

What is Enterprise Blockchain and How Does it Differ from Other Blockchains?

Nov 05, 2024 at 09:00 pm

People sometimes ask me what I mean by ‘enterprise blockchain,’ and how it differs from other blockchains. The difference lies in what a blockchain is used for and what it can be used for. Not all blockchains are created equal.

What is Enterprise Blockchain and How Does it Differ from Other Blockchains?

People often ask me to define ‘enterprise blockchain’ and how it is distinct from other blockchains. The key differentiator lies in the intended use case of the blockchain. Not all blockchains are created equal.

For over a decade, blockchains have been primarily viewed as platforms for digital assets and speculative financial instruments.

Some blockchains—such as those offering decentralised finance (DeFi) applications—focus on staking or loaning assets for yield, creating a daisy chain of interdependencies that don’t historically end well.

Enterprise blockchains, on the other hand, offer unlimited scalability, enabling them to handle data-intensive tasks that would overwhelm bandwidth-constricted networks. Enterprise blockchain technology strikes a balance between efficiency and transparency, allowing businesses to scale without sacrificing security or auditability.

Enterprise blockchains provide the technical infrastructure to seamlessly and auditably manage intellectual property agreements, AI training and development, micropayments and more.

These aren't just theoretical concepts - real-world use cases already exist, demonstrating that enterprise blockchains extend beyond speculative applications.

News source:fintechmagazine.com

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Other articles published on Nov 06, 2024