Consortium Blockchain

A consortium blockchain is a system that is “semiprivate” with a controlled user group, but works across different organizations. The protocol layer is under the control of a consortium of firms that must govern according to legal frameworks and agreements external to the blockchain code. A consortium blockchain is a hybrid between the “low trust” offered by public blockchains and the “single highly trusted entity” model of private blockchains. Thus, a consortium blockchain is permissioned, semidecentralized, and has a multiparty consensus.