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Private Blockchain Development

At LimeChain, we help Fortune 500 companies like P&G leverage private blockchains to optimize their business processes. We have experience in private blockchain development, including developing both Proof of Concepts and production-grade solutions, with certified and experienced developers for Hyperledger, Corda, Polkadot and Enterprise Ethereum.

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private blockchain development

Private Blockchains Explained

A private blockchain is a peer-to-peer network that is based on the technology of distributed ledgers (such as Bitcoin and Ethereum) but is not accessible by the public. It is one of the three main types of blockchains. Unlike with public, so-called permissionless blockchains, access to a private blockchain must be granted, i.e. permission is required to read and write transactions.
Private blockchains typically do not require the consensus of all nodes in the network for transactions to occur. This means that in such blockchains power is more centralized than in public ones which makes them more efficient in processing transactions.

Given their closed-off nature and fast transaction speeds, private blockchains are a perfect solution for enterprises.
Want to know more about private blockchain development and how it can be good for your company? Here are some of its benefits:

Benefits of Private Blockchain Development for Your Business

Private blockchains are perfect for enterprise use cases and corporate innovation.

Combining the main characteristics of blockchain-like distributed ledgers and smart contracts with the privacy and access-only nature of private networks, private blockchains offers the following advantages:

Reduced Costs
Thanks to smart contract development, processes in the network are largely automated which reduces all sorts of operational and administrative costs. Transactions in the network are also cheaper because they do not need to be verified by all nodes but only a few trusted ones.
Security
A private blockchain is restricted and access is granted only to trusted parties. Access can also be restricted, if necessary. This guarantees that confidential information does not become public. Regardless of the nature of the blockchain, any stored information is also cryptographically secured.
Scalability
Private blockchain networks are more scalable and have greater transaction throughput – a key requirement for enterprises. They can process significantly more files than their public counterparts.

This is because not all nodes need to participate in the validation of transactions. Validation can be limited to only a few nodes with greater processing power.
Efficiency
Because of the limited number of participants, downtime on private blockchain networks is significantly reduced, whereas uptime is maximized. Moreover, nodes are also better connected and faults are fixed more easily.
Control
With a private blockchain, an enterprise has control over the infrastructure which allows it to more easily adjust to legal and compliance requirements.

At the same time, unlike with public blockchains, the rules of a private blockchain can be changed by the enterprises that run it. This means that within such a network, transactions can be reverted and balances modified, if necessary.

The Private Blockchain Development Process

Using a well developed set of tools and frameworks allows us to meet our clients’ requirements for enterprise blockchain development and delivering reliable products and services.

Types of Services
LimeChain offers the following types of services related to the process of developing on private blockchain:

    - End-to-end product development
    - Proof of concept (PoC) development
    - Consulting
    - Private blockchain integration
Platforms
For this purpose, we make use of the following platforms when developing your company’s network:

    -Hyperledger Fabric
    -Hyperledger Besu
    -Hyperledger Indy
    -The complete Hyperledger tool stack
    -Corda
    -Quorum

Private Blockchain Development by LimeChain

LimeChain has an extensive background in developing private blockchain networks for our clients and partnering with various members of the community.

We are proud with our memberships within Enterprise Ethereum Alliance and the Hyperledger Foundation. We are mentors in the R3 startup ecosystem and are also partnering with Hedera Hashgraph and Baseline Protocol to develop their platforms and use them for various ERP integrations.

Our expertise and experience include:

– Certified Hyperledger Fabric developers
– Certified Corda developers
– Experience on 100+ blockchain projects on both public and private chains
– Experience in working with fortune 500 companies  (P&G)
– Experience with ERP integrations

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