Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#772

What benefits do blockchain provide in business-to-business collaborations?
– Allows the ability to transfer data, assets, or value between businesses without relying on a 3rd party.
– All members of the network have access to the same info via ledger, making it easy to verify and authenticate past transactions.
– Allows for increased trust between parties with instant access to relevant authentic info.
– Transparency.

What property of a blockchain does the name “Permissionless” refer to?
– Public.
– Anyone can create a personal address and start interacting on the network.
– Anyone can participate in the network by setting up a node, validator, or miner.
– Anyone can develop and add smart contracts on the network.
– Decentralized.
– Has a digital asset such as a coin or token.
– Some aspects of anonymity.
– Aspects of Transparency such as the ability to see all transactions processed.

What are 3 examples of permissionless blockchains?
Ethereum, Avalanche, Algorand

Who are allowed to join a permissioned blockchain network?
– Permissioned blockchains are closed ecosystems. You have to be invited or belong to an organization or business who implemented their own private blockchain.
– It’s possible in the future, countries, states, or cities could use permissioned blockchains which are private to their region.
– Only approved people or computer entities would have access.

Why do you think permissioned blockchain networks are preferred by many companies?
– It gives companies similar control to current network infrastructure.
– Companies have more control for user access, device access, functionality, validating, transactions, executions, or reading of data.
– Allows companies to create level tiers.
– Greater control if they want transparency or anonymity as these aren’t necessarily required.
– Governance is decided by members of the company and isn’t necessary. The company can make decisions when they want.
– Private blockchains are usually more centralized.

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#773

  1. Blockchain is one type of ‘Distributed Ledger Technology’ which allows for business collaborations/exchange of value to be conducted without centralized intermediaries - ‘Blockchain Technology’ replaces intermediaries as ‘trust’-layer and can therefore establish more operational efficiency. Additionally, Blockchain Technology might prevent the centralization of power over user-generated data due to it’s decentralized nature and provides more transparency within business operations. Moreover, censorship-resistance is a crucial property of blockchain technology - data, which is stored transparently can not be changed without consensus.

  2. Permissionless Blockchains are open and public networks without centralized authorities. Everybody can enter and exit the network at any time. Permissionless Blockchains promote equality, which means that every network node can independently decide on it’s role within the network - a light node can become a full node and can take part in the verification process of transactions. Every node has the right, to verify and validate transactions. There is full transparency, as every single transaction can be viewed on the ledger.

  3. Ethereum, Fantom & Algorand.

  4. This is defined by the system administrator of the permissioned blockchain network.

  5. Permissioned Blockchain Systems allow companies to make use of the core-benefits of blockchain solutions for their specific business purposes without loosing control over the network. Business might be interested in disintermediating business operations, strengthening immutability, establishing more transparency through blockchain technology, while controlling who is allowed to join the blockchain network & create new blocks. More permissioned systems might be more appealing as they provide more privacy related to business secrets. Permissioned Blockchains are not based on probabilistic consensus algorithms, but deploy consensus mechanisms which are focused on instant finality, which improves the scalability of these systems.

1 Like
#774
  • Transparency
  • Secure transactions
  • Removing the need of third parties

  1. Meaning that it is fully decentralized (public instead of private which a permissioned Blockchain would be)

  • Bitcoin
  • Ethereum
  • Avalance

  1. It’s normally used by organizations so only people within them are allowed to use permissioned Blockchains.

  2. Because they don’t have to keep everything open and visible to all, as a company you still have competition that you don’t want to know how your business is holding up.

1 Like
#775
  1. What benefits do blockchain provide in business-to-business collaborations?

increase trust between parties
provides transparency and access to reliable information recorded in a blockchain

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

that is public blockchain, anyone can participate to mine, to stake, is a trust-less, with immutable data, transparent records on a decentralized ledger with no central authority.

  1. What are 3 examples of permissionless blockchains?

Bitcoin, Ethereum, Cardano, what is EOS?

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

authorized partners of the private blockchain

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

only members or parties that have an agreement to participate in that private business that agreed on their own governance and want to keep the information private.

1 Like
#776

  1. blockchain technology allows the transfer of data/assets/value between two parties, while eliminating the need to rely on a third party to facilitate the said transfer. It allow for increased trust between parties, and instant access to relevant, authentic information

  2. In a public blockchain, anyone is free to join and participate in the core activities of the blockchain network

  3. Qorum, Corda, Ethereum

  4. Participants can join a private blockchain network only through an invitation where their identity or other required information is authentic and verified. The validation is done by the network operator(s) or by a clearly defined set protocol implemented by the network through smart contracts or other automated approval methods.

  5. Only those with permission can run a full node, make transactions, or validate/authenticate the blockchain changes. By reducing the focus on protecting user identities and promoting transparency, private blockchains prioritize efficiency and immutability—the state of not being able to be changed. These are important features in supply, logistics, finances, accounting…

1 Like
#777

A1. Trust, Access and transparency.
A2. Permission is not needed to access and use the blockchain
A3. Bitcoin, Ethereum and EOS
A4. Only trusted and eligible parties
A5. Control and Governance.

1 Like
#778

1. What benefits do blockchain provide in business-to-business collaborations?
A: A trust-less interaction between the two business parties whilst ensuring that all data is completely authentic and manipulation resistant.
2. What property of a blockchain does the name “Permissionless” refer to?
A: Public and free for all to use and thus creating the network consensus.
3. What are 3 examples of permissionless blockchains?
A: EOS, Ethereum & Bitcoin
4. Who are allowed to join a permissioned blockchain network?
A: Those that the chosen or allocated rights to join the permissioned network.
5. Why do you think permissioned blockchain networks are preferred by many companies?
A: It allows the entity to have some centralization control of the private elements they don’t want the public network to see.

1 Like
#779

  1. What benefits do blockchain provide in business-to-business collaborations?
    “In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information”

  2. What property of a blockchain does the name “Permissionless” refer to?
    Such blockchains do these things without requiring permission from a central authority-. “They allow every user to create a personal address and begin interacting with the network, by submitting transactions, and hence adding entries to the ledger. Additionally, all parties have the choice of running a node on the system, or employing the mining protocols to help verify transactions.”

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

  4. Who are allowed to join a permissioned blockchain network?
    “only approved people or computer entities have the possibility of running nodes on the network, validating transaction blocks, issuing transactions, executing smart contracts, or reading the transaction history.”

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because they are private organizations, not public. They privately own and control their organizations, and they want to extend such private ownership and control to their databases, including blockchain databases. Also they may want more secrecy and privacy, which a closed, permission-based blockchain can provide.

1 Like
#780
  1. What benefits do blockchain provide in business-to-business collaborations?
  • Transparent of the information
  • Trust between business partners
  • Excludes the need for third parties
  • Secure access to data

  1. What property of a blockchain does the name “Permissionless” refer to?
    Refers to how anybody can read a data inside the blockchain to valdate or varify the content.

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

  3. Who are allowed to join a permissioned blockchain network?
    Only approved and trusted users authorized to join

  4. Why do you think permissioned blockchain networks are preferred by many companies?
    Because its provides privacy, is more faster and efficient, less uncertainty regarding laws and regulations

1 Like
#781

1)Blockchain networks allows 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.

  1. Anyone can join and be a node, authroize transactions and create transactions.

3)Cardano, Ethereum and bitcoin

4)Only participants that are authorized

5)they provide control over the ledger; are not publically accessible, may not require any financial transaction components, can be easier to scale and maintain.

1 Like
#782
  1. What benefits do blockchain provide in business-to-business collaborations?

Increased trust between parties, and instant access to relevant, authentic information.

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

Permisionless blockchain networks power up most of the market’s digital currencies. Anyone can get involved.

  1. What are 3 examples of permissionless blockchains?
    Bitcoin
    Eth
    EOS

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

specific members of consortiums or companies, and members need to opt-in for the creation of such a network.

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

Because only approved people or computer entities have the possibility of running nodes on the network, validating transaction blocks, issuing transactions, executing smart contracts, or reading the transaction history.

1 Like
#783

  1. What benefits do blockchain provide in business-to-business collaborations?
    In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information. Blockchains provide a historical record of all transactions, alongside the means to record these entries which are immutable.

  2. What property of a blockchain does the name “Permissionless” refer to?
    It refers to allowing everyone to have access to the blockchain without the need of a third party or an intermediary.

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

  4. Who are allowed to join a permissioned blockchain network?
    Only those who are granted access or rights to join the network by an organization or centralized authority.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Private blockchains which are better for internal business operations thus allowing the central governing entity to decide on all problems pertaining to how the network is created, its protocols and what users can or can’t do.

1 Like
#784
  1. What benefits do blockchain provide in business-to-business collaborations?
    It eliminates the middle man and brings autonomy/self custody of their finances
  2. What property of a blockchain does the name “Permissionless” refer to?
    Open to everyone, public blockchain.
  3. What are 3 examples of permissionless blockchains?
    Binance chain, Ethereum, Bitcoin
  4. Who are allowed to join a permissioned blockchain network?
    Partners and authorized members.
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because it costs way less.
1 Like
#785
  1. Some of the benefits that blockchain provides in business-to-business collaborations are : transparency, trust between parties due to elimination of third party involvement, data security and integrity, non changeable encryption, easy accessible, publicly readable consensus algorithms and history record ,traceability, authenticity, efficiency, speed, anticorruption…

2.“Permissionless” blockchain refers to decentralised publicly open trustless blockchain that does not require authorisation for the node to take part in participation to the network its consensus incentives and data validation, has no gatekeeper, no censorship.

  1. Examples of “permissionless” blockchains
    BTC, BCH, ETH, LTC, EOS, ADA, DOGE, SOL, XMR, ZEC

  2. “Permissioned” blockchain network is closed blockchain network not publicly accessible that can be accessed by user nodes internally with appropriate permission only. Users must authenticate themselves using certificates or other digital methods to access control layer. Good example use-case of permissioned blockchain network is XRP, popular permissioned blockchains Quorum, R3Corda, Hyperledger Fabric.

  3. Permissioned blockchain networks are preferred by many companies because of the high level of privacy and security for sensitive data they provide. Without verified set of credentials compliancy access is not granted to the information. It is cost effective, no mining or cryptocurrencies are needed.It is more certain in following current world laws and regulations.

#786

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

- increased trust between parties -instant access to relevant, 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?

Public and Decentralized: meaning that no central entity has the authority to edit the ledger, shut down the network, or change its protocols. Many permisionless networks are based on consensus protocols.

3. What are 3 examples of permissionless blockchains?

Bitcoin
Ethereum
Dogecoin

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

Only those given permission governance is decided by members of the business network.

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

Because businesses want control.
Allow or give permission to only those they trust into the network.

The central governing entity or consortium of entities decide on all problems pertaining to how the network is created, its protocols and what users can do.

Allows business’s to leverage the power of the network for their own, internal business operations. Allows businesses to
securely record transactions, and exchange information between one another.

Only approved people or computer entities have the possibility of running nodes on the network, validating transaction blocks, issuing transactions, executing smart contracts, or reading the transaction history.

1 Like
#787
  1. Allows for increased trust between parties, allows for instant access to relevant, authentic info
  2. The blockchain is public and anyone can use it
  3. Ethereum, Celo and Bitcoin
  4. Only approved people
  5. So as not to expose company information or introduce unnecessary risks of hacks
#788

1.) What benefits do blockchain provide in business-to-business collaborations? They allow for increased trust between parties, and instant access relevant, authentic information.

2.) What property of a blockchain does the name “Permissionless” refer to? That any one can create personal address and begin interacting with the network, submit transactions, and deploy and use smart contracts.

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

4.) Who are allowed to join a permissioned blockchain network? Members of the organization vetted by organization administration.

5.) Why do you think permissioned blockchain networks are preferred by many companies? Financial privacy. Intellectual property control. Data control.

#789 
1.	Blockchain provides increased trust between parties and instant access to relevant, authentic information in business-to-business collaborations.
2.	“Permissionless” in blockchain refers to the property of being open to anyone, allowing every user to create a personal address and interact with the network.
3.	Three examples of permissionless blockchains are Bitcoin, Ethereum, and other digital currencies that power most of the market.
4.	Permissioned blockchain networks are joined by specific members of consortiums or companies, and only approved individuals or entities can run nodes, validate transactions, issue transactions, execute smart contracts, or read the transaction history.
5.	Permissioned blockchain networks are preferred by many companies for their suitability in internal business operations, allowing centralized organizations to leverage the network for their own needs, maintain controlled transparency, and customize governance based on business dynamics.
#790

  1. What benefits do blockchain provide in business-to-business collaborations?
    Transparency
    Cost efficiency if cut out the middle man
    Tampering resistance

  2. What property of a blockchain does the name “Permissionless” refer to?
    Means anyone can read and write on it. it is public

  3. What are 3 examples of permissionless blockchains?
    ETH BTC and LTC

  4. Who are allowed to join a permissioned blockchain network?
    network participants, selected by a governing body

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    They can control what happens on it and they can make the transactions and the ledger as a whole private.
    “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.” from JDC

#791

1-In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information. This is so thanks to the fact that blockchains provide a historical record of all transactions, alongside the means to record these entries.

2- Public blockchain where every user can initiate a transaction and see the transaction history.

• Driven by network consensus

• No permission

3- Bitcoin, Eitherum, EOS

4- only approved people or computer entities have the possibility of running nodes on the network, validating transaction blocks, issuing transactions, executing smart contracts, or reading the transaction history.

5- better scalability, 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.