Blockchain can be primarily categorized into three sections namely public, private, and Consortium Blockchain. Public blockchains allow anyone to join. It is used for cryptocurrency exchange and mining. Whereas, a single organization handles private blockchains. Consortium Blockchain on the other hand is semi-private and has a limited user group. It is governed by a group of organizations, therefore, resulting in higher security.
Setting up a consortium remains a difficult task altogether. It can be achieved by incorporating several organizations. There are many advantages to consortium blockchains as well. Organizations engaged in mutual support can attain improved workflow, fewer errors, and an increased sense of empowerment.