Consortium Network

An explanation of consortium networks.

A network that is jointly operated by different organizational accounts is called a "consortium network. From a technical point of view of the blockchain, it does not specifically control whether it is a consortium or not, but it means that the administrators of the social validator nodes are different organizations.

By having different organizations operating nodes, even if one organization dies due to bankruptcy or other reasons, the operation of the network can be guaranteed, and there is the advantage of being able to monitor each other for fraud. It can be said that consortium networks are generally more trusted than private networks.

In Blockchain cloud, after creating a network, you can invite other accounts using the "Invite" function, and the invited account will create a cluster in the network, submit an application to be promoted to a Validator node, and be approved by a majority of the other Validator nodes. By being approved by a majority of other Validator Nodes, a network of Validator Nodes across multiple organizations can be configured, and the network will be considered a consortium network.

On the contrary, a network that is not a consortium network and runs on the PoA consensus algorithm is called a private network.