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I would like to know whether separate blockchain can be hosted on Ehereum and i am wiling to try this out. Hope someone will be able to guide me to right path Thanks in Advance

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Yes, we can create a private blockchain in Ethereum. For the creation of private blockchain , you can use goethereum.

You can check below mentioned link.

https://souptacular.gitbooks.io/ethereum-tutorials-and-tips-by-hudson/content/private-chain.html

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