When we are talking about the blockchain technology, we always hear one thing in every single article – it’s decentralized. We at times think it’s a major movement against the money-hungry corporations. But is it though? Maybe you are not familiar with the term – private blockchain.

It’s time you dig a bit deeper into the world. We all have heard the name of Satoshi Nakamoto. He is the mysterious figure behind the cryptocurrency world. No one is sure if Satoshi is a boy, a girl or an organization. Though we the common people always credit Satoshi for creating Bitcoin, his greatest ever innovation is the blockchain.

Blockchain can simply be identified as a single digital ledger where all the transactions within a cryptocurrency ecosystem are recorded. Here the system keeps all the transaction in a chronological order and open for public eyes.