Permissioned vs Permissionless - Reading Assignment

Hello sir, great answers! I saw that Ivan presented your video about the Academy in one of his shows, please if you have any doubt let us know, I will do my best to help you understand in a deep level any doubt that you might have! So don’t even doubt to writing me! :grin:

Carlos Z.

PD: Si se le hace mas facil hacer preguntas en espaƱol, envieme un mensaje privado y con mucho gusto lo atendere!.

  1. What benefits do blockchain provide in business-to-business collaborations?
    In business-to-business scenarios, blockchain networks allow trust between parties, and instant access to relevant information. Also, they allow the verification of past transactions and eliminate the need of a third party.

  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    ā€œPermissionlessā€ refers to the fact that it is open to anyone to enter without any individual check.

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

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

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    They are preferred because there is more control over the data, the transactions are securely recorded and the exchange information between one another is efficient and secure.

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they create higher transparency and remove the need for trust. Past transactions can also be verified.

it refers to participating in the network (creating a node, creating addresses, mining, making transactions…)

BTC, LTC, ETH

Only those parties which have the permission from the governing entity.

Cheaper transactions, faster, not available to the public, changes can be made if necessary (flexibility)

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  1. What benefits do blockchain provide in business-to-business collaborations?
    data transfer between parties without the need of having a 3rd party handling it
    transparency where needed and wanted
    more trust between all members as algorithms and maths describing the rules and not individual decisions

  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    open blockchain, which is available/usable for all participants following the given rules
    anyone can participate, indepentend from any characteristics

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

  4. Who are allowed to join a permissioned blockchain network?
    Selected participants, which are wanted in the view of the blockchain holder/company

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    They want to keep control over participation and data

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  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 ā€œPermissionlessā€ refer to?
    public

  3. What are 3 examples of permissionless blockchains?
    Bitcoin, litecoin, Etherum

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

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    It’s more secure, centralized and control on their own

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1.It allows for increased trust between parties and instant access to relevant authentic information.

2.It means that anyone can use and contribute to the network without someone having to allow it.

  1. Bitcoin, Ethereum and Monero.

4.People that are authorized are only allowed to join.

5.Companies like to have as much control as possible.

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  1. the benefits provided to business- business blockcahin collaborations are. Both parties having immediate availability of all transaction happening. allows for peer to peer transacrtions & anyone can use it.
  2. the property of permission less belongs the blockchain being able to be used by anyone, anyone can join and receive incentive, no one is in actual control of the block chain.
  3. BTC, ETH & EOS are examples of permissionless blockchain
  4. only authorized users are allowed to join a permissioned block chain
  5. permissioned blockedchain are perferred becuase it allows for required permission to interact with blockchain, controls the data being seen and allows for governance
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  1. What benefits do blockchain provide in business-to-business collaborations?
  • Removes third partie and trust.
  • It is transparent. All transactions can be veryfied in the blockchain, by everybody.
  • Transfere value between 2 parties
  1. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
  • It is public and driven by consencus in the network.
  • You do not need permission to participate and you can not be banned.
  1. What are 3 examples of permissionless blockchains?
  • Bitcoin, Etherium and EOS.
  1. Who are allowed to join a permissioned blockchain network?.
  • Only the ones who gets permission by authority/owner.
  1. Why do you think permissioned blockchain networks are preferred by many companies?
  • You own your blockchain and controls all the data and who gets access to it.
  • Privacy and governance, designed for your specific needs.
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What benefits do blockchain provide in business-to-business collaborations?
Transparency
Security
Budgetary (in that 3rd parties are removed)

What property of a blockchain does the name ā€œPermissionlessā€ refer to?
Access to the fucntions - adding bocks or executing smart contracts

What are 3 examples of permissionless blockchains?
Bitcoin
Ethereum
EOS

Who are allowed to join a permissioned blockchain network?
Only those who are given access by the governance system in the business

Why do you think permissioned blockchain networks are preferred by many companies?
Privacy concerns, and nervousness with new technology

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Glenn_CostaRica

1. What benefits do blockchains provide in business-to-business collaborations?
As decentralized platforms where security, integrity and transparency are almost absolute, blockchains offer a solid set of benefits to organizations that need to keep business-to-business (B2B) interactions. One of these advantages – a huge one – is being able to conduct B2B transactions without the intervention of any third party. Any two businesses or more than two entities can keep all sorts of financial relations and communication, without worrying for approval from other entities. One more advantage is that you don’t even need to trust your counterparty if the business is conducted on a trustless Blockchain. If you have a business and you want to transact with some other organization, the Blockchain offers a higher degree of security, since you trust your decentralized code, not your business partner. You spend less time making sure that your partner is reliable, because the Blockchain is. One more advantage is complete transparency: in Blockchain-based businesses, parties can have total access to every single piece of data of the system all the time. Every movement, every transaction and every single rule of the operations is visible and is impossible to obscure. A decentralized Blockchain is an absolutely immutable and transparent database: no one can revert any previous action and no one can hide any single piece of data.

2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
A truly open, public and decentralized Blockchain is inherently incapable of discriminating anyone who wants to use the system in a legitimate way, therefore, no permission is ever needed in order to participate in the system. No single human being and no group of people is in charge of organizing or managing the work of giving access to the system, of selecting transactions or of choosing who can transact and who cannot. No matter who you are, where you are or what you want, if you have the correct software and follow the basic rules of the network, you can be part of the platform. There exists no mechanism to deplatform you or your business ever either.

3. What are 3 examples of permissionless blockchains?
Some examples of permissionless blockchains are Bitcoin, Ethereum and Tezos.

4. Who are allowed to join a permissioned blockchain network?
A permissioned blockchain allows to join only those members that are elegible according the central authority.

5. Why do you think permissioned blockchain networks are preferred by many companies?
A permissioned blockchain is a closed, non-public, more centralized and less distributed kind of ledger that can be, in a way, similar to permissionless blockchains. From the point of view of the user, superficially, this ledger might look very much the same while feeling even more convenient, as they could be faster and more efficient. However, a permissioned blockchain consists of a usually very limited number of nodes chosen and regulated by a central organization: this organization has the power over the system and can even, in most cases, add and eliminate nodes according to internal interests, hold almighty power to modify data or even shut down the network. Some companies would undoubtedly prefer to launch services or to establish B2B interactions on a permissioned blockchain, as they can be fully in control of the system all the time. In a private option, they can give enough privacy to their customers and users, they don’t need to worry about understanding cryptocurrencies in their chains as consensus derives from authority and, of course, they feel more comfortable without the immutability aspect that characterizes the public option.

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  • What benefits do blockchain provide in business-to-business collaborations?
    -Central Control
    -Specific tailoring of access rights to the extent of information and executable actions on the blockchain can be implemented.
    -Immutable secure ledger information
    -easy access to permitted entities

  • What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    -That anyone can be part of the network, read write or run a node
    -Work is done in a trust-less but authenticated manner

  • immutable transaction security
    -Members are financially incentivised to maintain the network
    -governance is normally by a form of consensus logarithm
    -It is a public network
  • What are 3 examples of permissionless blockchains?
    Bitcoin
    thereum
    EOS

  • Who are allowed to join a permissioned blockchain network?

  • Participants approved by the networks creator or central body
  • Why do you think permissioned blockchain networks are preferred by many companies?
    -allows easier governance
    -they have central control over activites occuring on the network
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1. What benefits do blockchain provide in business-to-business collaborations?

A public, secure, reliable and immutable record of business dealings, supply chain events, transactions, etc.

2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?

Permissionless refers to a blockchain that anyone can join. This means it’s a public ledger that anyone can interact with anonymously.

3. What are 3 examples of permissionless blockchains?

BTC, ETH, EOS

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

Anyone who is issued permission from the central authority of the network.

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

Because the company’s data can be private so only the appropriate parties can view the appropriate records. The company gets to be the governing body and grant permission, and control their data and privacy.

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  1. What benefits do blockchain provide in business-to-business collaborations? It is resistant to tampering, provides great security and eliminates the need to rely on a third party to facilitate the transfer of data between 2 parties. 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 ā€œPermissionlessā€ refer to? The decentralization meaning no central authority can edit, change protocol or shut down the network.
  3. What are 3 examples of permissionless blockchains? Bitcoin, Ethereum, EOS
  4. Who are allowed to join a permissioned blockchain network? Private blockchains are run by specific members of consortiums or companies, and members need to opt-in for the creation of such a network.
  5. Why do you think permissioned blockchain networks are preferred by many companies? Permissioned blockchains are preferred by centralized organizations, which leverage the power of the network for their own, internal business operations.
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[quote=ā€œfilip, post:1, topic:6383ā€]

  • What benefits do blockchain provide in business-to-business collaborations?
    It allows transfer of data, assets and value between two parties.
    No third party is required.
    It provides layer of trust.
    Access to relevant and historical information.
    Security
  • What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    Anybody can create a personal address and begin interacting with the network, by submitting transactions, and hence adding entries to the ledger.
  • What are 3 examples of permissionless blockchains?
    Bitcoin, Etherium and HEX.
  • Who are allowed to join a permissioned blockchain network?[/quote]
    Only people or computer entities that have been approved by the governing entity of the network or company.
  • Why do you think permissioned blockchain networks are preferred by many companies?
    These can protect company’s informations and transaction confidentiality.
    Security
    Control over who can access, transact and store data.
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  1. Resistant to tampering, high security, no third party needed, layer of trust
  2. Anyone can participate; trust-less environment, governance via consensus
  3. BTC, ETH, ADA, EOS
  4. A governing entity decides who is allowed to join.
  5. Privacy reasons, central governance and control
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trust, transparency, security, cost, and simplicity

it is a public ledger

bitcoin, ethereum, eos

those the central authorities allow

contro, Control, and CONTROL

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  1. It makes it trust-less and reliable, eliminates extra fees and other type of trouble with a third party between the 2 businesses

2.Public

  1. Bitcoin, ETH, and EOS

  2. Only those who are chosen by the creator of that network

  3. It’s still a company that has it’s own secrets and ways of operations, blockchain still didn’t solve the problem of competition therefore some secrets must remain to keep the advantage as much as possible.

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  1. Provides an immutable, transparent, trust-less data structure for all parties involved.
  2. The property that anyone can interact with, use, and read the blockchain without any central controller granting permission first.
  3. BTC, LTC, ETH
  4. Only those granted permission by the central controller can join a permissioned blockchain.
  5. More privacy. They also scale more easily, and are simpler to use than open blockchains.
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  1. it provides privacy on different levels,trust,security,control and can be centralized or semi decentralized.
  2. Public (transparent,slower and decentralized)
  3. LTC(adding Charlie sold all his LTC),ETH,EOS
  4. Anybody can join the network with a node and secure the network or create an private address.
  5. The Governance,the control and the Privacy.
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  1. What benefits do blockchain provide in business-to-business collaborations?
    increased trust between parties and instant access to relevant, authentic information
  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    access: public, anyone can create transactions
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Etherium and EOS
  4. Who are allowed to join a permissioned blockchain network?
    members of the business network
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    the ability to combine decentralized features with centralized features like governance and consensus algorithms, degrees of transparency, allowing the central governing entity to decide on all problems pertaiing to how the network is created, its protocols and what users can do.
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