A private blockchain is a closed, permissioned network where only authorized participants can access and validate transactions. Unlike public blockchains, which are open to anyone, private blockchains offer greater control and privacy. They are often used by enterprises for secure internal operations, such as supply chain management, financial transactions, and data sharing. Private blockchains offer faster transaction speeds, customizable governance structures, and enhanced security, making them suitable for businesses that require more control over their networks while still benefiting from the transparency and immutability of blockchain technology.