:black_small_square:Security is a key advantage of blockchain technology. Because information on a blockchain cannot be altered, it is incredibly difficult to commit fraud. Private blockchain helps to further secure data by using identity verification to confirm membership and access privileges. This type of blockchain typically only permits known organizations to join, further increasing security.
:black_small_square:Performance: Fewer nodes usually result in increased performance, as it takes less time to validate blocks. As the number of transactions grows, factors such as higher throughput and lower latency become more significant. Network and distributed system simulators are important tools that performance depends on.
:black_small_square:Scalability: A network that doesn't have to host millions of users can more easily implement changes and features, making it more scalable. To date, research shows that this type of blockchain is scalable to a greater extent. Scalability involves several parameters that depend on each other.
:black_small_square:The private blockchain's higher throughput is due to the limited number of users. The increased speed of transactions is advantageous for businesses that require fast speeds.
:black_small_square:Trust: The fact that users on the private network are not anonymous increases the level of trust in the private blockchain. A private blockchain is best suited for applications where data privacy and control over data sharing are required.
:black_small_square:Since blockchain networks typically have fewer users than other types of networks, they use less energy and resources. Private blockchain networks are the most energy-efficient choice for businesses, as they are not as large as public blockchain networks.
Source: geeksforgeeks