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web3glossaryfederated blockchain
Federated Blockchain

Summary

A federated blockchain is a type of blockchain that is governed by a group of pre-selected nodes, allowing for shared control and decision-making among various stakeholders instead of a single entity.

Detailed Description

In a federated blockchain, unlike public blockchains where anyone can join and participate, the network is composed of a limited number of trusted nodes that validate transactions and maintain the ledger. This model combines elements of public and private blockchains, providing a balance between decentralization and control. It typically offers higher transaction throughput and efficiency due to the reduced number of validators, and it is often used in scenarios where regulatory compliance and data privacy are important.

Category
Blockchain Technology
Synonyms
Semi-Decentralized Blockchain
Collaborative Blockchain
Consortium Blockchain

Impact Details

3 impact insights hidden

Yirifi's stakeholder, regulatory-compliance, and risk-impact analysis for this term.

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Supply Chain Management

Federated blockchains can enable tracking of goods from source to consumer, ensuring transparency and accountability among all parties involved.

Industries:

Logistics
Retail

Platforms:

IBM Blockchain Platform
Corda Network
Financial Services

Banks and financial institutions can use federated blockchains for interbank settlements, reducing transaction costs and settlement times.

Industries:

Banking
Finance

Platforms:

R3 Corda
Quorum
Supply Chain Management

Federated blockchains can enable tracking of goods from source to consumer, ensuring transparency and accountability among all parties involved.

Industries:

Logistics
Retail
Manufacturing

Platforms:

IBM Blockchain Platform
Corda Network
Oracle Blockchain Cloud
Financial Services

Banks and financial institutions can use federated blockchains for interbank settlements, reducing transaction costs and settlement times.

Industries:

Banking
Finance
Insurance

Platforms:

R3 Corda
Quorum
Hyperledger Fabric
Healthcare Data Sharing

Healthcare organizations can collaborate on patient data sharing while adhering to privacy regulations, ensuring data integrity across platforms.

Industries:

Healthcare
Pharmaceuticals

Platforms:

IBM Blockchain
Corda

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FAQs

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