Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#361

What benefits do blockchain provide in business-to-business collaborations?
Instant access to relevant and authentic information and Immutability
2. What property of a blockchain does the name “Permissionless” refer to?
Not one entity or company controls the blockchain.
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 blockchain. Example Banks.
5. Why do you think permissioned blockchain networks are preferred by many companies?
Control of the the data.

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#362

Permissioned vs Permissionless

  1. What benefits do blockchain provide in business-to-business collaborations?
  • It provides a built-in trust layer for transactions which removes the need for a trusted third party.
  • It gives the network participants instant access to relevant and authentic (i.e. verifiable) information.
  • Blockchain technology can be integrated with other evolving technologies like automation, artificial intelligence, IoT and machine learning.

  1. What property of a blockchain does the name “Permissionless” refer to?
    A blockchain is permissionless if anybody with the technical means can participate in its operation without being allowed to do so by a governing authority first. All aspects of running the blockchain (transactions, verification, mining, development, etc.) are then open to anyone who chooses to do so.

  2. What are 3 examples of permissionless blockchains?

  • Bitcoin
  • Ethereum
  • EOS

  1. Who are allowed to join a permissioned blockchain network?
    Only participants that have credentials to identify themselves and have previously been approved by a governing entity can interact with clearly defined aspects of the permissioned blockchain.

  2. Why do you think permissioned blockchain networks are preferred by many companies?
    Permissioned blockchains are more efficient in terms of speed and energy consumption since consensus mechanisms do not have to incentivize participants through on-chain rewards for off-chain expenses (e.g. proof of work). Functionalities can also be tailored to requirements and use cases of the business in a top down manner. Another aspect is the control over who accesses which portions of business related data.

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#363
  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. Therefore, it provides a trust layer that did not exist until now, for all types of transactions – as all members of the network have access to the same information via the ledger, thus making it easy for participants to verify and authenticate past transactions.

I quoted the article but in short, trust-less, transparency and integrity.

  1. Permissionless aka public ledger, refers to the transparent(open) property of a blockchain.

  2. BTC, ETH, EOS.

  3. Anyone.

  4. In businesses, there are many sensitive data and transactions that should be kept private.

Example, a common situation is offering different prices for the same product or service to different client based. Client A is a recurring client who always make payment on time, hence got more discount, client B is a new client and have a reputation within the industry for defaulting payment. As a business owner, I’d rather keep this price discrepancy private to prevent losing new clients yet at the same time protecting the business from bad debts.

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#364
  1. What benefits do blockchain provide in business-to-business collaborations?
    easy audit, trust, security, transparent
  2. What property of a blockchain does the name “Permissionless” refer to?
    it is public blockchain
  3. What are 3 examples of permissionless blockchains?
    bitcoin, ETH, DOT
  4. Who are allowed to join a permissioned blockchain network?
    only approved/authorized users
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    to control better business
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#365

Reading Assignment : Permission less vs Permissioned ( Answer):

1.Increses trust between parties, and instant access to relevant, authentic information.
2. Public based.
3. ETH, EOS BITCOIN
4. Only those authorized by the private network.
5.Control over private blockchain is more efficient for Companies. Governance.
:thinking:

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#366

  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., transparency

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

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

  4. Who are allowed to join a permissioned blockchain network?
    Only allowed users are able to join the network, see the recorded history, or issue transactions of their own.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    More control
    Limited access
    Adaption to own business purposes
    Governance

2 Likes
#367

  1. Increased trust, security and accountability by no need of a 3rd party, trusted parties have access to check history. Control and governance.

  2. No need for anyone or anything to allow or give you permission to participate. It’s public for anyone to use.

  3. Bitcoin, Ethereum, Litecoin

  4. Users that have been granted permission by the governing body.

  5. Securing sensitive data, cost-effective, easy and fast control/governance

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#368

  1. What benefits do blockchain provide in business-to-business collaborations?
    provides trust
    reduce cost

  2. What property of a blockchain does the name “Permissionless” refer to?
    Anyone can join
    trust no one
    public

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

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

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    privacy
    cost effective
    governance
    centralisation
    control

1 Like
#369

  1. What benefits do blockchain provide in business-to-business collaborations?
    Provides increased trust between parties with instant access to relevant & authentic information.

  2. What property of a blockchain does the name “Permissionless” refer to?
    A Public blockchain where anyone can join, participate as a node and read the blockchain.

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

  4. Who are allowed to join a permissioned blockchain network?
    Only who the owner of the blockchain authorises.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    You get the benefits of a blockchain but the control of who can participate and read the data.

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#370
  1. What benefits do blockchain provide in business-to-business collaborations?

Trust and efficiency.

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

You don’t need any permission to make transactions on blockchain unlike in centralized institutions.

  1. What are 3 examples of permissionless blockchains?

Bitcoin, ethereum, EOS

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

Only people or computers approved by people in charge

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

Because they want to control/manage/manipulate their data

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#371

1.)
Provides a immutable ledger of transactions once placed in the block chain.
Provides a security/resistance to tampering with records.
Provides transparency .
Removes the need for third parties.
Easy for participants to verify and authenticate past transactions.

2.)
It refers to a particular blockchain which is public and available to all.

3.)
Bitcoin
Eth
Litecoin

4.)
Authroized users only.

5.)
more control over the data
limit data to authorised users only.
they can leverage the network for their own internal business purposes.
Governanace.
Privacy
cost effectiveness.

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#372
  1. It allows for increased trust between parties, and instant access to relevant information.
  2. Creating an address and adding entries.
  3. Bitcoin, Ether, EOS
  4. Only approved people or computer entities
  5. Because they need to keep data private.
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#373
  1. increased trust between parties, and instant access to relevant, authentic information
  2. No permissions required to access the blockchain. Anyone can create a personal address and start interacting with the network.
  3. BTC, ETH, DOGE
  4. Only approved members of computer entities
  5. For control reasons
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#374
  1. Allows for increased trust between parties and instant access to accurate information.
  2. Decenteralisation, digital assets, anonymity and transparency
  3. Bitcoin, Etherium and EOS
  4. Only approved people or computer entities
  5. Because they are able to leverage their control of the network, without the need to be transparent about their transactions.
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#375

  1. What benefits do blockchain provide in business-to-business collaborations?
    Blockchain increases trust between buisnesses and eliminates the middleman.

  2. What property of a blockchain does the name “Permissionless” refer to?
    No permissions to join the network

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

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

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    For better control and governance of the network

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#376
  1. It provides a trust layer that did not exist until now, for all types of transactions – as all members of the network have access to the same information via the ledger, thus making it easy for participants to verify and authenticate past transactions.
  2. The allowance of every user to create an address and start interacting with the network.
  3. Bitcoin, Ethereum and EOS
  4. Only approved people and computer entities of the network.
  5. Because of privacy, cost-effectiveness, trusted and easy integration.
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#377

  1. 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, also provides security which is resistant to tampering making this a good choice for businesses.

  2. A blockchain that allows anyone to join the network without permission from a centralised authority, so they can contribute towards the network or run a node to receive incentives by verifying transactions.

  3. Bitcoin, Ethereum, EOS

  4. Authorised users only

  5. Permissioned blockchains act as closed ecosystems, where users are not freely able to join the network, they have control over their data. They are able to employ consensus algorithms which can be tailored to their needs on matters such as governance and privacy.

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#378

You will have a trustkless system between B2B. You don’t need a thirth party To verify anything because you can do it yourself on the blockchain.

It’s public. So everyone can use it iff the want to do that.
It’s decentralized.

BTC
ETH
Polkadot

Only people that have permission.

They decide how gets permission
They keep control over the data
More Privacy for the company
It’s cheaper for the company

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#379
  1. What benefits do blockchain provide in business-to-business collaborations?
    Its a trustless technology that avoid 3rd parties , since all transactions are recorded.
  2. What property of a blockchain does the name “Permissionless” refer to?
    Anyone can be part of a permissionless blockchain , add transactions and read content from it.
  3. What are 3 examples of permissionless blockchains?
    Bitcoin , thereum , or EOS
  4. Who are allowed to join a permissioned blockchain network?
    Selected people in a company or organization
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because the can control the access so that it can remains private ,
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#380

What benefits do blockchain provide in business-to-business collaborations?
Blockchain networks allow for increased trust between parties because they provide a historical record of all transactions and fast access to information.

What property of a blockchain does the name “Permissionless” refer to?
This refers to the property of being open and public

What are 3 examples of permissionless blockchains?
Bitcoin, Ethereum, Monero

Who are allowed to join a permissioned blockchain network?
Only approved people or computer systems can join the network.

Why do you think permissioned blockchain networks are preferred by many companies?
They have proprietary data that needs to be secured so private, centralized control is required.

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