Blockchain Technology and Applications by Pethuru Raj;Kavita Saini;Chellammal Surianarayanan;

Author:Pethuru Raj;Kavita Saini;Chellammal Surianarayanan; [Неизв.]
Language: eng
Format: epub
Publisher: CRC Press (Unlimited)

7.1.3.3 Consortium/Federated Blockchain

A consortium blockchain is a type of semi-decentralized blockchain but it is permissioned too. Multiple companies or multiple individuals combine together to operate the node in a network. These groups are known as a consortium or federation, and their combined nature helps in making decisions for the benefit of the entire network. Administrators will grant the reading request and consensus request to a limited set of trusted nodes who can take part in consensus execution. It is much faster in accomplishing things, and there is no single point of failure. For example, the world’s top 20 financial institutions are grouped under one consortium. At least 15 companies should vote for or validate the transaction in order to add one block or to make decisions in this type.

R3 and EMF are examples of consortium blockchains.

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