Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#521

1.blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information.
2. Decentralization,
3. Bitcoin, Eth, EOS
4. Approved Members of the network.
5.They will have full control.

1 Like
#522
  1. What benefits do blockchain provide in business-to-business collaborations?
    It allows to increase trust
  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    It is public and decentralized
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Etherneum, EOS
  4. Who are allowed to join a permissioned blockchain network?
    Approved entities by governor of permissioned blockchain
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    They have full control and do not share their know-how to everybody
1 Like
#523
  1. They provide trust, security, instant access to relevant information, and it also provides access to historical data of all transactions.
  2. It is available to the public. It is driven by public consensus, and everyone is free to mine bitcoin and receive incentives.
  3. Bitcoin, EOS, and Ethereum
  4. Only users that are authorized by the central authority created the private blockchain.
  5. Requires permission and helps in keeping important and sensitive data inside the company.
1 Like
#524
  1. You can trust it.
  2. Anti-corrupting and provides much more security.
  3. Bitcoin, Ethereum, Polcadot, Cardano
  4. Those that are authorized
  5. Because it allows them to control what they do, control data
    controls privacy.
1 Like
#525
  1. What benefits do blockchain provide in business-to-business collaborations?
  • The benefits blockchain can provide in business-to-business collaborations is that it allows for a trustless relationship between businesses. It eliminates the need for third parties to verify truthfulness.
  1. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
  • Permission less in blockchain refers to the ability for anyone to join the network. Examples being running a node, mining, transact, governance, etc.
  1. What are 3 examples of permissionless blockchains?
  • Three examples of permission less blockchians are EOS, Ethereum, and Bitcoin.
  1. Who are allowed to join a permissioned blockchain network?
  • In order to join a permissioned blockchain one must be an authorized participant.

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

  • Permissioned blockchains are preferred by many companies because it allows for the governance and essentially the control of all the value stored on the blockchain.
1 Like
#526
  1. **What benefits do blockchain provide in business-to-business collaborations?
    Thereā€™s more trust between parties and instant access to reliable information because the blockchain keeps a historical record of all transactions.
  2. **What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    Itā€™s public, meaning everyone can access it.
  3. **What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, Cardano.
  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?
    Because they donā€™t want all their information just in the open and want to be in control of who can read the info present on the blochain or write on the blockchain.
1 Like
#527

  1. Blockchain offers increased trust between parties and instant access to the information stored in the used blockchain.

  2. There is no need for permission to put up a node in permissionless blockchain, which means that the data validators or storages have not been picked up in a centralized way. Also, basically everyone is able to open a wallet and start using a permissionless blockchain.

  3. Bitcoin, Ethereum, Dogecoin

  4. Permissioned blockchains are private and closed ecosystems for example businesses or business networks. The people or businesses joining a permissioned blockchain need to be approved by existing members of the blockchain.

  5. Private blockchains contain data that is not meant to be revealed for the public. Permissioned blockchains allow individually modified transparency for different users (for example bosses/workers) and governance mechanisms (usually centralized) can be determined by the users of the blockchain.

1 Like
#528

  1. What benefits do blockchain provide in business-to-business collaborations?
    Benefits would be increased trust, transparency and access to transactions.

  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    This refers to the ability to participate in a network, with a permissionless/public blockchain, there is no one that has to approve your use of the blockchain.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin
    Etherum
    Cardano

  4. Who are allowed to join a permissioned blockchain network?
    This would be controlled by the central authority.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    There are several reasons:

  • Blockchain is a new technology and so companies may not be ready to embrace it fully
  • They want to retain some control
  • The want a middle ground between systems they are used to administering versus dipping their toe into new technology
  • The idea of full transparency scares them
1 Like
#529

  1. Benefits of blockchain in business-to-business collaborations: Increased trust between parties, instant access to relevant and authentic information.

  2. A permissionless blockchain is public; anyone can create a personal address and interact with the blockchain.

  3. Some permissionless blockchains: Bitcoin, Ethereum, EOS.

  4. In a permissioned blockchain, only approved users are able to join.

  5. Many companies prefer permissioned blockchain networks so that they can be more private and centrally controlled, and can set their own policies.

1 Like
#530

Permissioned vs permissionless BC- Homework
1- more transparency, trustlessness, removes third parties in transactions
2- decentralization. NO need of permission of a central authorirty to use or to be part of the network
3- BTC, Ethereum, EOS
4- Only those allowed by the business/network rulers
5- Because they do not lose control of the data and processes of the business.

1 Like
#531
  1. creates a trusted environment, improves security and transparency
  2. it is public and every can have access and use of the blockchain
  3. BTC, ETH, DOGE
  4. people that are granted access
  5. because a lot of data might be sensitive and they donā€™t want the public to view them. itā€™s also good as it give the companies more control and governence.
1 Like
#532
  • trust
  • security
  • no need for 3th party

  1. Public, a for anyone to join or read ledger

  • Ethereum
  • Polkadot
    -Cardano

  1. Only nodes that are invited to the party (only people who are invited/authorised to join the blockchain)

  2. Because it keeps control in their own hands, theyā€™re still the ones who decide what happens with the information on the blockchain. They stay in charge so to say.

1 Like
#533
  1. What benefits do blockchain provide in business-to-business collaborations?
  • Increased trust between parties
  • Instant access to relevant, authentic information
  1. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
  • Public
  1. What are 3 examples of permissionless blockchains?
  • Bitcoin
  • Ethereum
  • Dogecoin
  1. 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 txn history
  1. Why do you think permissioned blockchain networks are preferred by many companies?
  • As they can leverage the power for their own, internal business operations.
1 Like
#534
  1. What benefits do blockchain provide in business-to-business collaborations?

Blockchain technology allows the transfer of data, assets and value between two parties, while eliminating the need to rely on a third party to facilitate the said transfer.

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

All parties have the choice of running a node on the system.

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

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

People or organisations accepted by the private blockchain.

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

It allows the 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.

1 Like
#535

1. What benefits do blockchain provide in business-to-business collaborations? Transparency. There is increased trust between parties because information is authentic and available to both as records on the blockchain.

2. What property of a blockchain does the name ā€œPermissionlessā€ refer to? Nobody can stop you from joining the network. All you need is to create a wallet or start mining to begin participating in the network. Anyone can develop a smart contract onto the ETH network.
3. What are 3 examples of permissionless blockchains? BTC, EOS, ETH
4. Who are allowed to join a permissioned blockchain network? Only approved people or nodes
5. Why do you think permissioned blockchain networks are preferred by many companies? They want control over their company and keep business operations internal.

1 Like
#536
  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. This adds a layer of trust that did not exist until now.
  2. A permissionless blockchain allows anyone to create a public address and open a node or mining protocol to assist with validating transactions.
  3. Some permissionless blockchains include bitcoin, ethereum, and eos
  4. Only people granted permission by the admin is allowed to join a permissioned blockchain
  5. Companies used permissioned blockchain for secure internal business purposes.
1 Like
#537
  1. What benefits do blockchain provide in business-to-business collaborations? In many instances it can replace the 3rd party traditionally used to facility transactions between two business. This 3rd party was traditionally required as an in impartial intermediary to ensure the business could ā€œtrustā€ one another. blockchains can recreate this trust relationship.
  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to? Anyone can access and use the blockchain.
  3. What are 3 examples of permissionless blockchains? Bitcoin, Ethereum, Cardano.
  4. Who are allowed to join a permissioned blockchain network? Those who have been granted access from the actors in control of the blockchain.
  5. Why do you think permissioned blockchain networks are preferred by many companies? A permissioned blockchain gives the user greater control over how the network will run, as well as a potential increased level of privacy compared to public blockchains.
1 Like
#538
  1. What benefits do blockchain provide in business-to-business collaborations?
  • Instant access to relevant and authentic information
  • Eliminates the need for middlemen therefore offering increased trust between parties
  • Can reduce costs as businesses can deal directly
  1. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
  • Permissionless blockchains are public and decentralized so no central entity, company or person has the authority to edit the ledger, change its protocols, or control or shut down the network.
  1. What are 3 examples of permissionless blockchains?
  • Bitcoin
  • Ethereum
  • EOS
  1. Who are allowed to join a permissioned blockchain network?
  • Authorised participants only
  1. Why do you think permissioned blockchain networks are preferred by many companies?
  • That way companies can maintain: Control over information and data sharing as well as participants.
1 Like
#539
  1. Increased trust between parties, and instant access to relevant, authentic information.
  2. The availability for anyone to interact with the blockchain network without permission.
  3. Bitcoin, Ethereum, Cardano
  4. Whoever the administrators allow to join
  5. To protect sensitive information they do not want public
1 Like
#540
  1. Blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information.
  2. 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.
  3. BTC, ETH, EOS
  4. Only approved people or computer entities.
  5. Control
1 Like