Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#201
  1. transparency is a huge benefit
  2. It being a public blockchain
  3. BTC, ETH, EOS
  4. Whoever is certified by the administrator(s) of the permission blockchain.
  5. Private information, faster, control
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#202

  1. Cryptographic protocols, resistant to tampering, greater security, data to be transmitted and stored in a Peer to Peer fashion.

  2. It referā€™s to interacting with the network, by submitting transactions, and hence adding entries to the ledger via created personal address.

3.Bitcoin
Litecoin
Ethereum

  1. Authorised userā€™s only.

  2. Centralised control

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#203

  1. What benefits do blockchain provide in business-to-business collaborations?
    In business-to-business collaborations, 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. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    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.

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

  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?
    Because they can decide what should be accessible by everyone and what not. To protect company information and transaction confidentiality. For enhanced security.
    And mainly to have control over data - only authorised personnel can transact and store data in the permissioned blockchain network.

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#204

Permissionless vs Permissioned Blockchains ā€“ Reading Assignment

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

  • No need for a central authority, a third party, or intermediaries ā€“ the blockchain allows peer 2 peer transfer of value or digital assets or data.
  • Transparency
  • Instant access to authentic data - with efficiency and speed
  • Secure and immutable transactions
  • Traceability - Access to historical data of all transactions
  • Cost effective

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

  • Permissionless Blockchain is public and open source.
  • Consensus mechanism POW or POS
  • Anyone can Verify and authenticate past transactions
  • Anyone can mine or run a node and receive rewards as incentives
  • Append to the blockchain
  • Decentralized, transparent and Immutable

3. What are 3 examples of permissionless blockchains?

  • Bitcoin
  • Ethereum
  • Cardano

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

  • Anyone given the authority to access the permissioned layers/levels of the entity/community in which they are participating/operating in.

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

  • Requires permission to participate
  • Protection of sensitive data that cannot be public
  • To reduce and control transaction costs
  • To have full control
  • Added Security within the permissioned blockchain
  • Easier to scale and maintain within the permissioned community
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#205

Excellent answer sir! really well documented! keep it like that please! :muscle:

Carlos Z.

#206

Excellent answer sir! really well documented! keep it like that please! :muscle:

Carlos Z.

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#207

1. What benefits do blockchain provide in business-to-business collaborations?
In case of a permission less blockchain:

  • Transparency by offering the ability to see any past transactions
  • Security by being a decentralised ledger
  • Data integrity as by design data is can only be appended or read

2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
No restrictions to access a public blockchain, become a node, mine or read transactions.

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

4. Who are allowed to join a permissioned blockchain network?
Members who have the certificates for accessing the network.

5. Why do you think permissioned blockchain networks are preferred by many companies?
The need to control and govern their data and to have the flexibility to determine which nodes of the network are valid.

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#208

  1. What benefits do blockchain provide in business-to-business collaborations?
    Blockchains provide a historical record of all transactions, wich allows less trust issues, less record keeping, instand access to relevant, authentic information and security because of the decentralization.

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

  • Public access
  • Decentralization
  • Digital assets
  • Anonymity
  • Transparency

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

  2. Who are allowed to join a permissioned blockchain network?
    Those authorized by the owner of the blockchain

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

  • Central control
  • Can have less transparency
  • Governance on a central level
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#209
  1. What benefits do blockchain provide in business-to-business collaborations?

-Blockchains can increase trust and security between businesses by facilitating openness of transaction information. If well organized and sufficiently decentralized businesses face less risk that information stored on the blockchain can be corrupted by bad actors. By using a blockchain companies are also better able to safely share information with the

-They can increase speed. Because entries into the blockchain can be tamperproof (assuming that the blockchain is decentralized), businesses can trust each other and speed up processes because they do not need to do manual auditing. This also removes need for third parties in certain settings.

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

Permissionless refers to open and public blockchains which are free for anybody to join.

  1. What are 3 examples of permissionless blockchains?

Bitcoin, litcoin, monero

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

Only the users that have been grated acces top join the blockchain

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

They would like to keep their companies ins and outs for themselves and are not looking to grant outsides open access to their information and/or decision making processes.

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#210
  1. Increased trust between parties, and instant access to relevant authentic info.
  2. its a public blockchain, everyone can join , no permission needed
  3. Dogecoin
    Ethereum
    Eos
  4. only companies that allow each other
  5. in that way they can keep control
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#211
  1. they securely record transactions, and exchange information between one another
  2. No permission in needed to join the network. It is free to join as a full node, a miner or a user
  3. Bitcoin, Ethererum, EOS
  4. Everyone who gets granted permission by the owner
  5. Because they still have control over the blockchain.
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#212
  1. Blockchain allow for increased trust between parties, and instant access to relevant, authentic information.
  2. Ability for anyone to join, interact, help secure the transactions in the network without someone/ entity to give access.
  3. Bitcoin, Ethereum, EOS
  4. Any person given permission by super user (full authority user)
  5. It provides the business a control over their data stored in the network and customize not to display sensitive data to public.
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#213
  1. Increased transparency between parities and quick easy access to validated, trusted, authentic data with record of transactions details of full history.
  2. Anyone can join or leave the network at their discretion without approval from anyone to participate.
  3. BTC, ETH, EOS
  4. Authorized participants and users only.
  5. Control over data is the main driver. Most businesses have critical IP and dont want all information public as that is their competitive advantage, which if made public could be a big risk to their existence as a company.
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#214

  1. What benefits do blockchain provide in business-to-business collaborations?
    It provides transparency, trust, accessibility, and tampering resistant data.

  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    It refers to a public decentralized network with no restrictions on participation.

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

  4. Who are allowed to join a permissioned blockchain network?
    Only the specified people that are allowed access to join.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    It provides control, flexibility and cost efficiency.

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#215
  1. In B2B collaboration blockchain provides a historical record of all transactions and the means to record the entries. This allows for for increased trust between parties, and instant access to relevant, authentic information.

ā€œIn the future, it is believed that blockchain technology will revolutionize the way B2B/user transactions and processes are carried out, especially following the introduction of other technologies such as automation, artificial intelligence, Internet of Things and machine learningā€ (DANIEL DOB JANUARY 7, 2020)

  1. Permissionless refers to the fact that this blockchain network is decentralized and fully transparent

  2. Examples of permissionless blockchains are digital currencies like Bitcoin, Ethereum, and Litecoin.

  3. Permissioned blockchains are closed ecosystems/networks where users need permission to join, view recorded history, or make transactions. They are run by specific members of consortiums or companies, and members need to opt-in for the creation of such a network. Centralized organizations, which leverage the power of the network for their own internal business operations prefer this private method over the public/permissionless.

  4. Many companies prefer permissioned blockchain networks because they would get the benefits of the technology without giving up tiers or hierarchies of control, or public access to their information. Control and information are limited to a select group of private users.

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#216

In business-to-business scenarios,
blockchain networks allow for increased trust between parties,
and instant access to relevant, authentic information.
2)
decentral (public) blockchain, there is no entity that grants permissions.
(everyone is allowed to get involved)
3)
Bitcoin, Ethereum, Dogecoin
4)
in private blockchains different level tiers are available like in centralised Databases,
level tiers allowing individuals to do only what their job entails them to:
entities have the possibility of running nodes on the network,
validating transaction blocks, issuing transactions, executing smart contracts,
or reading the transaction history.
5)
-only approved people/entities have access to the prvate blockchain via different tiers (see 4)
-no erasing of information possible because all colleagues with reading tiers are witnesses (total monitoring). Supervisors might get unembellished view of occurring human errors.
-for business-collabrorations permissioned BC seems to be more trustworthy
than conventional correspondence (see 1)

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#217

  1. What benefits do blockchain provide in business-to-business collaborations?
    Increased trust with immediate access to authentic information

  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    Anyone can join the network, participate, or possibly build upon in a decentralized environment.

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

  4. Who are allowed to join a permissioned blockchain network?
    only approved people or computer entities.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    The organization is in complete control of governance and are able to adjust the blockchain as the business needs evolv .

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#218

  1. What benefits do blockchain provide in business-to-business collaborations?
    Transparency, anti-corruption, and eliminates 3rd parties.

  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    The Trust property. Anyone can be a part of the network (node, miner) as the network will verify all transactions.

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

  4. Who are allowed to join a permissioned blockchain network?
    Whoever controls the permissioned blockchain network could answer that.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    The ability to be in control and govern as they see fit.

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#219

  1. Trustless interaction and instant access to relevant, authintic information

  2. It is refering to the the chain being centralized or decentralized

  3. Bitcoin, Etherium, EOS

  4. Whoever the central autority grants access to.

  5. There are some aspects of a company that must remain confidential and the company would prefer to control who can read/write. They can also govern decisions.

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#220

  1. Transparency, trustless, no need for third parties.

  2. Transparency, users who get involved must be incentivised to trust the network. Therefore, a transparent network needs to freely give users access to all information apart from the private keys ā€“ from addresses, to how transactions are processed into blocks, and the freedom to see all transactions processed by the network.

  3. Bitcoin, Ethereum, Bitcoin cash

  4. Only approved people or computer entities.

  5. Governance, privacy, control.

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