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What benefits do blockchain provide in business-to-business collaborations?
Blockchain networks allow for increased trust between parties, and instant access to authentic information. The blockchain provides historical records of transactions. -
What property of a blockchain does the name “Permissionless” refer to?
The “Permissionless” refers to a public blockchain network. -
What are 3 examples of permissionless blockchains?
Bitcoin, Ethereum, EOS -
Who are allowed to join a permissioned blockchain network?
Only approved people or computer entities on the permissioned blockchain network have the possibility of running nodes, validating transaction blocks, issuing transactions, executing smart contracts, or reading the transaction history. -
Why do you think permissioned blockchain networks are preferred by many companies?
This allows the private business, central governing entity, or consortium of entities to decide on all problems pertaining to how the network is created, its protocols and what users can do on their own blockchain.
- 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.
- Permissionless blockchain means public network. This refers to decentralization, digital assets, anonymity, transparency.
- Bitcoin, Ethereum, EOS.
- Only users that are allowed by central authority.
- They maintain internal security of the network and they can choose what functionalities they will use.
- semi decentralized, transparency and autonimity, governance. 2. You need no central entity to give you authority or permission. It’s run usually by a concensus of governance. 3. BTC, ETH, XDAI 4. Only authorized participants may join the network. 5. Requires permission, control over data, governance, privacy and cost effective. More control over govnerance, users and leverage the network for their own internal business purposes.
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Increased trust between parties and increased access to relevant and authentic information.
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That a user does not need permission from a third party or central authority to participate, use the functions, and interact with the network of that blockchain.
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btc eth ada
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Specific members of consortiums or companies. Any individual that has been authorized by a central authority.
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Because they have control over the data and the networks that it operates on. They can then make changes as they see fit based on their business model.
- Blockchain technology provides all member of the network with the same information, it makes it easy to verify and authenticate past transaction.It does not allow tampering - so it provides great security and builds trust. It makes 3rd party (interference) obsolete.
- permissionless means that it is public to everybody - you do not need any permission to operate it or to add to it. There is no central control.
- Bitcoin, Ethereum, EOS
- the controller of the permissoned blockchain says who can participate and who can’t.
- because the have still the control over the blockchain. They can choose who can participate and who can’t. Maybe the company does not want that the data stored on the blockchain is made transparent to the public. Governance is as well dictated by the controller. There is no need of incentives and I guess it scales better.
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What benefits do blockchain provide in business-to-business collaborations?
blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information. -
What property of a blockchain does the name “Permissionless” refer to?
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. -
What are 3 examples of permissionless blockchains?
Bitcoin, Ethereum, ZCash -
Who are allowed to join a permissioned blockchain network?
Authorized participants -
Why do you think permissioned blockchain networks are preferred by many companies?
They can control the data, Privacy, requires permission, Cost effective, and Governance.
1. What benefits do blockchain provide in business-to-business collaborations?
- Provides a trustless transparent environment.
- Eliminated third parties involvement
- Faster processing
2. What property of a blockchain does the name “Permissionless” refer to?
Permissionless Blockchain is public and no permission is to add to it, verify transactions or run a node.
3. What are 3 examples of permissionless blockchains?
- Bitcoin
- Ethiruim
- XRP ledger
4. Who are allowed to join a permissioned blockchain network?
Only authorized participants.
5. Why do you think permissioned blockchain networks are preferred by many companies?
Companies want control and the ability to govern and make all decisions.
- No 3rd party needed - increased trust between the two parties. Quick access to the information needed.
- Decentralization, Transparency
- Bitcoin, Ethereum, EOS
- Those who get permission from those who are in control of permissioned blockchain network.
- Because they have private information and they can’t afford to show it to everyone. Also it helps them to control the blockchain network in a way that it suits the company.
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Benefits;
-increased trust
-instant access to relevant infos
-authentic infos
-historical data easy to read -
Public Blockchain
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Bitcoin, Ethereum, Litecoin
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Specific, authorized, approved people.
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No need of consensus, closed ecosystem, leverage the power of the network for their own internal business, control who can see what
(Control, Governance, Privacy and Cost effectiveness)
- It allows for increased trust between parties that the data is correct. It also can provide instant access to relevant and authenticated data between parties.
- It is a public database meaning a permissionless blockchain allows access for anyone to download the ledger, run a node or create transactions to be added to the blockchain without anyone’s consent.
3.Bitcoin, Ethereum and Digibyte are 3 examples. - Only people who are authorized by the owners of the permissioned blockchain.
- They can keep control of the information for themselves and decide what data can be made available or shared with others.
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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. -
What property of a blockchain does the name “Permissionless” refer to?
It refers to allowing anyone to get involved on the network without asking for permission of the developers. -
What are 3 examples of permissionless blockchains?
BTC, ETH, EOS -
Who are allowed to join a permissioned blockchain network?
Only approved people or computer entities. -
Why do you think permissioned blockchain networks are preferred by many companies?
Because they don´t want to delegate power to the users. This kind of blockchain allows them to make decisions and have control of the information in their company.
- What benefits do blockchain provide in business-to-business collaborations?
- Removes the danger of non-repudiation because a smart contract once signed and confirmed is binding and eliminates the need for an intermediary.
- The shared, single source of truth makes it easier to come to an agreement of fact.
- The transparent nature makes it impossible to hide corrupt practices on chain.
- Documented agreement and Financial settlement can happen at the same time
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What property of a blockchain does the name “Permissionless” refer to?
Consensus mechanism -
What are 3 examples of permissionless blockchains?
Bitcoin, Ethereum, EOS -
Who are allowed to join a permissioned blockchain network?
those with authentication keys - Why do you think permissioned blockchain networks are preferred by many companies?
- It maintains control and is similar to the legacy systems they employ.
- Data and code are keep private
- Cheaper run due to POAuth consensus requires no POW
- quicker execution time
- more certainty around laws
- Doesn’t require cryptocurrency to function
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There is no need to rely on middleman. All the transactions can be verified on the blockchain (no need for trust). The data is easy accessible. Blockchain is resistant to tampering, therefore provides security.
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Public & driven by network consensus.
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Bitcoin, Ethereum, EOS
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Only trusted nodes.
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Because they want to keep private information about company`s business to trusted/authorized entities and people only.
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What benefits do blockchain provide in business-to-business collaborations?
Trustless ness - IE trust the code and not a person.
Integrity/Immutability - You know that the data has not been altered
Access to transaction history -
What property of a blockchain does the name “Permissionless” refer to?
Anybody can access - You do not need someone’s permission to create an account. -
What are 3 examples of permissionless blockchains?
Bitcoin
Ethereum
EOS -
Who are allowed to join a permissioned blockchain network?
Some who has been granted access. -
Why do you think permissioned blockchain networks are preferred by many companies?
A company wants to control who has access to data, the ability write new data, and the controls the nodes on the network.
1.- Efficiency and privacy when using a private blockchain, they can choose trusted nodes.
2.- That it is open to anyone and completely decentralized.
3.- Bitcoin, ethereum, dogecoin.
4.- People who are chosen by the company/owners of that particular blockchain.
5.- Mainly privacy.
1. What benefits do blockchain provide in business-to-business collaborations?
- Trust to the other party and resistant to tampering
- Full record of the history of all datas
- Reliability and instant access to the datas (24/7)
- No 3rd party needed -> could be more cost efficient
2. What property of a blockchain does the name “Permissionless” refer to?
- Open
- Public
- Boarder less
- Neutral
- Censorship resistant
- Decentralized
3. What are 3 examples of permissionless blockchains?
Bitcoin, Litecoin, Monero
4. Who are allowed to join a permissioned blockchain network?
Only members that have been approved by the governing entity
5. Why do you think permissioned blockchain networks are preferred by many companies?
- To protect and keep the governance over their datas
- Privacy
- Scalability
- It allows for increased trust and instant access to information.
- Permissionless allows everyone to participate and have the option of running a node
- Bitcoin, Ethereum, EOS
- Only those given ‘permission’ to do so.
- So companies can control their information and how their blockchain is run
In the general debate of public versus private blockchain for business use and integration, there are several considerations to be made. While it is certain that Businesses will benefit by deploying the distributed ledger technology, there are several drawbacks when it comes to public, permissionless blockchains.
The first real benefit for business to business transactions, the trustless nature of the blockchain ecosystem is a real game changer. The transparency, accountability and ease of auditing provide other compelling reasons to deploy this tech within the business infrastructure. Informational integrity is also paramount, supported by the immutable characteristic of the blockchain structure. Yet perhaps the most compelling reasoning is remove the requirement to use and trust third parties to transact.
The basic properties of permissionless blockchains carry great advantages to business transactions, such as the inherent transparency, immutability, and résistance to censorship help to create a unique environment that is free businesses from the need to trust one another, however the freedom of anyone to join a public blockchain is definitely a concern to businesses who wish to protect their private information and do business in a non-public manner. While Bitcoin, Ethereum, Chainlink and other permissionless blockchains have a potential role to play in business transaction, they are certainly not required to build a viable blockchain ecosystem in a business sense. let it be said, however, that the power of the ethereum network, run by the ethereum virtual machine and its ability to house, enforce and execute smart contracts is certainly on the radar of many businesses in modern times.
In an ecosystem of a private, permissioned blockchain however, only approved people, entities, and machines are allowed to interact with the blockchain, and at varying levels depending on the particular permissions they are granted. This gives a tremendous versatility and flexibility to the blockchain database system employed by the modern business. The truisms of doing business in a secure, semi-private manner ore central to the core capabilities of a permissioned blockchain ecosystem. The combined computing power of the network of machines can be leveraged in all sorts of ways that current business IT infrastructures cannot. For instance, the computational power and storage capabilities of a network of machines is far more powerful than using just one machine or set of servers. Also note that the private blockchain structure allows for a choice in variety of governance style, giving the business more control and enhancing the privacy of the network. Businesses gather, store and utilize vast amounts of data. This data is not only powerful, but can often be sensitive, and therein lies an implicit responsibility to protect that data. Indeed every day more and more regulation and compliance in the realm of data management is being enacted and enforced, bringing to bear greater risks than ever faced before. Blockchain technologies provide businesses the ability to organize, store, and protect that data in a very modern and secure way via encryption and other methods. In addition, the advent of the smart contract enables businesses to automate many workflows and rubberstamp type businesses decisions like approvals and other cumbersome repetitive procedures.
- In B2B collaborations, blockchains provide transparency of record and the ability for anyone operating on the blockchain to verify transactions on the blockchain. This enhances security and efficiency.
- Permissionless refers to the ability for anyone to interact with the blockchain without approval from anyone else.
- Examples of permissionless blockchains include Bitcoin, Litecoin, and Ethereum.
- In permissioned blockchains, only those who are authorized by the governing body/entity can join the network.
- Permissioned blockchains are preferred by many companies because they can maintain greater control of the network.
1- What benefits do blockchain provide in business-to-business collaborations?
It allows for more trust between parties and instant access to relevant / authentic / etc information
2- What property of a blockchain does the name “Permissionless” refer to?
The fact that anyone is allowed to become involved on the network i.e. there is no “gatekeeper” granting or refusing access.
3- What are 3 examples of permissionless blockchains?
BTC, ETH, NEO
4- Who are allowed to join a permissioned blockchain network?
The members who opted-in at the point of creation of the network and later other entities who are approved to e.g. run validator nodes.
5- Why do you think permissioned blockchain networks are preferred by many companies?
They wish to maintain control in a closed system believing it will both protect their business and help it thrive.