What is Private Network ?
In a public blockchain, anyone is free to join and participate in the core activities of the blockchain network.
A private blockchain allows only selected and verified participants; the operator has the rights to override, edit, or delete entries on the blockchain.
Why Private Network?
In an Ethereum network if the nodes are not connected to the main network then it is known as a Private Ethereum Network.
Only the nodes with the right permissions will be able to access this Blockchain.
Privacy – Don’t want to key data on a public network that’s why enterprises build a private network.
To test the smart contracts and to develop smart contracts.
Install Geth on Your System
Create a Folder For Private Ethereum
Create a Genesis Block
Execute genesis file
Initialize the private network
Create an Externally owned account(EOA)
Mining our private chain of Ethereum
Testing Transfer Transaction between Accounts
Testing Deploying Smart Contract
Testing Connecting via Metamask