Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#1

Welcome to the discussion about this reading assignment.

Leave your answers to the questions below in this thread. If you have any questions or you want to discuss something connected to the assignment feel free to do it in this thread as well, but please everything to the topic.

  1. What benefits do blockchain provide in business-to-business collaborations?
  2. What property of a blockchain does the name “Permissionless” refer to?
  3. What are 3 examples of permissionless blockchains?
  4. Who are allowed to join a permissioned blockchain network?
  5. Why do you think permissioned blockchain networks are preferred by many companies?
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#2

Permissionless vs. Permissioned Blockchains – Reading Assignment

1. What benefits does blockchain provide in business-to-business collaborations?

• Provides trust
• Provides security/resistant to tampering
• Instant access to relevant and authentic information
• Access to historical data of all transactions
*Cost effective

2. What property of a blockchain does the name “Permissionless” refer to?

• It is public.
• Driven by network consensus
• No permission is required to:
 Run a node, and receive incentives
 Add to the blockchain
 Verify and authenticate past transactions

3. What are 3 examples of permissionless blockchains?

• Bitcoin
• Etherium
• EOS

4. Who are allowed to join a permissioned blockchain network?

Only participants that are authorized.

5. Why do you think permissioned blockchain networks are preferred by many companies?

• Requires permission
• Control over data – what can and cannot be viewed and by whom
• Governance
*Privacy
*Cost effective

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#3
  1. I assume you mean a permissioned business to business collaboration, because you can have a permission less business to business collaboration also.
  • Provides an immutable ledger of transactions once placed in the block chain.
  • Provides a transparent ledger of transactions, data or records kept on the blockchain.
  • All business parties can easily and quickly read the ledger.
  • The block chain can be easily updated and improved.
  • Anyone can use and join the network without permission from an authority.
  • Works in a trust-less environment. No central authority or person manages the block chain.
  • The ledger of transaction is immutable and can not be hacked, changed, destroyed or revised.
  • Bitcoin
  • Ethereum
  • Cardano

  1. People who have been approved by an authority or owner of the block chain.

  2. They scale better, are easier to maintain, change and update. Security is provided by selecting participants rather than employing consensus algorithms that can require resources to operate. An incentive program is not required to approve transactions. The block chain can be tailored to a companies specific needs and is therefore more efficient and streamlined.

8 Likes
#4

1. What benefits do blockchain provide in business-to-business collaborations?

  • Allows for transfer of value or digital assets between 2 parties.

  • Transparency.

  • Secure transactions.

  • Removes the need for third parties to facilitate transactions.

  • Easy for participants to verify and authenticate past transactions.

2. What property of a blockchain does the name “Permissionless” refer to?

  • It refers to the fact that a particular blockchain is public rather than private.

3.What are 3 examples of permissionless blockchains?

  • Bitcoin

  • Ethereum

  • Litecoin

4. Who are allowed to join a permissioned blockchain network?

  • Authorized users only.

5. Why do you think permissioned blockchain networks are preferred by many companies?

  • More control over the data.

  • Limit data to authorized users only.

  • They can leverage the network for their own internal business purposes.

5 Likes
#5
  1. What benefits do blockchain provide in business-to-business collaborations?
    In business-to-business collaborations, blockchain can mediate trust and eliminate third parties.

In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information.

  1. What property of a blockchain does the name “Permissionless” refer to?
    The decentralization property is being refered to as there is no central authority and no limitation imposed by the developers. Anyone can run the software, join the group.

  2. What are 3 examples of permissionless blockchains?
    BCH, ETH, EOS

  3. Who are allowed to join a permissioned blockchain network?
    Thos who are invited.

  4. Why do you think permissioned blockchain networks are preferred by many companies?
    Because they can maintain or exert control.
    Permissioned blockchains are preferred by centralized organizations, which leverage the power of the network for their own, internal business operations.

4 Likes
#6

1. What benefits do blockchain provide in business-to-business collaborations?
Blockchain increased trust between parties, instant access to relevant and authentic information. It will revolutionize the way B2B/user transactions and processes are carried out.
2. What property of a blockchain does the name “Permissionless” refer to?
No one controls the blockchain so it refers to transparency property.
3. What are 3 examples of permissionless blockchains?
Bitcoin, Etherium, EOS.
4. Who are allowed to join a permissioned blockchain network?
Only members of the business network.
5. Why do you think permissioned blockchain networks are preferred by many companies?
Because they want to keep their business information and features under their own control but it is only the transition to a public B2B structure.

3 Likes
#7
  1. Allow transactions to selected user groups in a controlled way.
  2. It means anyone can use and or be part of the network including the incentives and consensus mechanism
  3. Bitcoin, Litecoin, ethereum.
    4 Only those that the owners (those controlling the Blockchain) permit access to.

5 It’s all about control (or being seen to be in control by their clients and stakeholders)

3 Likes
#8

1) What benefits do blockchain provide in business-to-business collaborations?
Blockchain networks alloW increased trust between parties,
Instant access to relevant and authentic information.
Provide a historical record of all transactions alongside the means to record these entries.

2) What property of a blockchain does the name “Permissionless” refer to?
You dont need permission to partake in the blockchain network. Once you follow the blockchain network rules your entries are accepted to the ledger.

3) What are 3 examples of permissionless blockchains?
Bitcoin
Litecoin
Monero

4) Who are allowed to join a permissioned blockchain network?
A permissioned network is centrally controlled by an organisation or closed ecosystem. So they only will accept transactions created by a trusted party.

5) Why do you think permissioned blockchain networks are preferred by many companies?
Security is much more available to the company as they can create the rules.
Cost is much lower as there is no need for mining, all the nodes involved are trusted.
Increased transactions per second, you only need to time stamp a bunch of transactions and let the nodes sync them over time.

4 Likes
#9

  1. What benefits do blockchain provide in business-to-business collaborations?
    => eliminate third-parties
    => anti-corruption
    => transparency

  2. What property of a blockchain does the name “Permissionless” refer to?
    The blockchain is public

  3. What are 3 examples of permissionless blockchains?
    BTC, EOS, ETH

  4. Who are allowed to join a permissioned blockchain network?
    “Authorised” users

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    => more control
    => governance

4 Likes
#10

What benefits do blockchain provide in business-to-business collaborations?

  • You dont need a third party
  • Better effiency and speed
  • Security
  • More economic.
  • Traceability

What property of a blockchain does the name “Permissionless” refer to?
Its open for anyone to read data and to add changes and participate in different ways. Dezentralized and transparant

What are 3 examples of permissionless blockchains?

  • bitcoin
  • Ethereum
  • Bitcoin Cash

Who are allowed to join a permissioned blockchain network?
Everyone with authority to access in different levels.

Why do you think permissioned blockchain networks are preferred by many companies?

  • They have sensibly data that can not be public
  • They want to lower the transaction costs
  • The need to have control
  • Security
  • Easier to scale and maintain
5 Likes
#11

  • What benefits do blockchain provide in business-to-business collaborations?
    When used privately (permissioned), the business can control who has what access, etc. Yet, because the businesses agree on the consensus algorithms, they can trust the data that is in their node.

  • What property of a blockchain does the name “Permissionless” refer to?
    Public

  • What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, XMR

  • Who are allowed to join a permissioned blockchain network?
    People/organizations that are given a certificate/permission.

  • Why do you think permissioned blockchain networks are preferred by many companies?
    Because they can better control who does what, who sees what. Who gets to participate, etc. It’s all about control.

2 Likes
#12

1. What benefits does blockchain provide in business-to-business collaborations? Immutable ledger, transparent transactions and publicly readable.
2. What property of a blockchain does the name “Permissionless” refer to? Anyone can join and be a node, authroize transactions and create transactions.
3. What are 3 examples of permissionless blockchains? Cardano, Ethereum and bitcoin.
4. Who are allowed to join a permissioned blockchain network? Only participants that are authorized
5. Why do you think permissioned blockchain networks are preferred by many companies? Control, Governance, Privacy and Cost effectiveness

2 Likes
#13

  1. What benefits do blockchain provide in business-to-business collaborations?
    full records of the history of a transaction, immutable ledger, removal of 3rd party intermediaries

  2. What property of a blockchain does the name “Permissionless” refer to?
    the ability to create a private key and participate in transactions by anyone, or to read the ledger, without any permission required to do so.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, Dash

  4. Who are allowed to join a permissioned blockchain network?
    only those authorised by the owner of the blockchain.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    they provide control over the ledger; are not publically accessible, may not require any financial transaction components, can be easier to scale and maintain.

3 Likes
#14
  1. Provides access to historical transactions and data. Allows for the transfer of value without the use of intermidiaries.
  2. Meaning that anyone can join of view or participate, meaning open to the public.
  3. EOS, bitcoin, dogecoin
  4. Only those authorized by the owner.
  5. I think they are preferred because as a business owner you have complete control over the entire thing, or you can have.
2 Likes
#15

  1. What benefits do Blockchain provide in business-to-business collaborations?
    Allows for the transfer of Data, Assets, Value between two parties
    No need to rely on a third party to facilitate transfers of Data, Assets, and Value
    Provides a layer of Trust
    instant access to relevant, authentic information
    Provides Security

  2. What property of a blockchain does the name “Permissionless” refer to?
    No one needs Permission to take part in the Blockchain Network 'Permissionless" refers to a Public, Decentralized Blockchain.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin
    Etherium
    Monaro

  4. Who are allowed to join a Permissioned Blockchain Network?
    Only people or computer entities that have been approved by the Governing entity, only then can they access the levels that they have been granted access to.

  5. Why do you think Permissioned Blockchain Networks are preferred by many companies?
    It’s all about control,Permissioned 'Private" Blockchains allow the central Governing entity or Consortium of entities to decide on all problems pertaining to how the Network is created, it’s protocols and what users can do, thus leveraging the power of the Network for their own internal business operations.

2 Likes
#16
  1. data integrity, accountability, prevent information silos, provide trust between untrusted parties
  2. permissionles = anyone can participate
  3. hyperledger (fabric, indy, swatooth) corda, stellar,
  4. only trusted participants
  5. privacy
2 Likes
#17

  1. What benefits do blockchain provide in business-to-business collaborations?
    Data security, accountability

  2. What property of a blockchain does the name “Permissionless” refer to?
    No permission required just private keys. The security in this is found in the number of possible private keys is close to the number of atoms in the known universe.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin
    Ethereum
    DAPScoin

  4. Who are allowed to join a permissioned blockchain network?
    Those who have been given credentials.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Scalability and familiarity. Permissionless blockchains are like the internet on dial up huge potential that’s not realistic with current infrastructure/software.

2 Likes
#18
  1. What benefits do blockchain provide in business-to-business collaborations?
  • increased trust between parties through instant access to relevant, authentic information due to ledger cannot be tempered.
  • Save cost, cut down middleman e.g. banks, lawyers through smart contract
  • Increased efficiency in transfer of value.

  1. What property of a blockchain does the name “Permissionless” refer to?
    Omits the reliability of a trusted entity as public blockchain provides a trust layer. It allows data/asset/value to be transferred peer to peer without relying on a third party, and anyone can create an address to interact and transact with the network.

  2. What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, Matrix ai

  3. Who are allowed to join a permissioned blockchain network?
    Only users given permission.

  4. Why do you think permissioned blockchain networks are preferred by many companies?

  • To protect company information and transaction confidentiality
  • For enhanced security.
  • Control over data - only authorised personnel can transact and store data in the permissioned blockchain network.
2 Likes
#19

1. What are 3 examples of permissionless blockchains?
Love the fact that most people list BTC ETH as first two and the third as opportunity to shill their bag, me included!! :rofl::rofl:

4 Likes
#20
  1. What benefits do blockchain provide in business-to-business collaborations?
    Blockchains allow B2B transactions to be more transparent and much faster.
  2. What property of a blockchain does the name “Permissionless” refer to?
    Permissionless refers to these types of blockchains being decentralized and able to be managed by anyone.
  3. What are 3 examples of permissionless blockchains?
    Eos, Ethereum, Bitcoin(somewhat)
  4. Who are allowed to join a permissioned blockchain network?
    Those who have been granted access by the creator of the entity
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because they still maintain control of how the data flows and can manage their resources
3 Likes