Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#601

What benefits do blockchain provide in business-to-business collaborations?
Accounting, verification and security are some benefits to a business using blockchain technology.

What property of a blockchain does the name “Permissionless” refer to?
No permissions are required and the blockchain is trustless and verified mathematically through a system that works well via incentives.

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

Who are allowed to join a permissioned blockchain network?
The creator or administrator will decide who can join.

Why do you think permissioned blockchain networks are preferred by many companies?
So some info could remain private.

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#602
  1. What benefits do blockchain provide in business-to-business collaborations?
    Trustless environment for parties, instant access to relevant and authentic information, a historical record of all transactions.
  2. What property of a blockchain does the name “Permissionless” refer to?
    You do not need permission to take part on the blockchain network, make transactions or do mining.
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Etherium, Cardano
  4. Who are allowed to join a permissioned blockchain network?
    Permissioned blockchains are private closed ecosystems that require users to have permission to join the network and have limited use delegated by central governance.
  5. Why do you think permissioned blockchain networks are preferred by many companies? Because they can have a full control over protocols and privacy.
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#603

  1. They provide the transparency and trust between companies as well as instant access to information about either company.

  2. You do not need permission to join the blockchain and/or participate in it. The trusted vs untrusted nodes that were mention in the video are prime examples of that.

  3. a) BTC
    b) DOGE
    c) ETH

  4. The people that are trusted by the one in control of the private blockchain.

  5. In order to keep the businesses private information or company secrets, it cannot go public. For example…If Coca-Cola had to be completely public we could all see how the drink is made as well as their competitors.

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#604

  • What benefits do blockchain provide in business-to-business collaborations?
    Blockchain eliminates third parties and it provides a trust layer since all members of the network have access to the ledger.

  • What property of a blockchain does the name “Permissionless” refer to?
    This refers to whether the blockchain is public or private; dictating whether or not their will be governance over users and data.

  • What are 3 examples of permissionless blockchains?
    bitcoin, ethereum, doge

  • Who are allowed to join a permissioned blockchain network?
    Users that are given permission by the network.

  • Why do you think permissioned blockchain networks are preferred by many companies?
    Private blockchains may be preferred for companies because they have more control over who can see the network and how much can be seen.

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#605
  1. What benefits do blockchains provide in business-to-business collaborations?

They allow for increased trust between parties and instant access to relevant, authentic information.

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

All inclusive. Anyone can join and develop or mine.

  1. What are 3 examples of permissionless blockchains?
  • Bitcoin
  • Ethereum
  • EOS
  1. Who are allowed to join a permissioned blockchain network?

Anyone given permission by the authority in question.

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

Because they’re able to assert more control of the blockchain, who participates, which nodes are trusted vs non-trusted, etc…

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#606

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

They allow for increased trust between parties, and instant access to relevant, authentic information.

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

Users can begin interacting with the network and submit transactions without having to ask for permission from a central entity.

What are 3 examples of permissionless blockchains?

Bitcoin

Ethereum

Cardano

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 that way they can keep information about the business private and they can distribute power on the network according to their needs.

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#607
  1. Allows for peer to peer transactions removing the need for third parties, provides true ownership and security and is transparent making it easy to authenticate all past transactions.
  2. permissionless meaning anyone anywhere can participate, transact, authenticate or verify infomation.
  3. Btc, ethereum, cardano.
  4. Authorised users.
  5. Easier to controll.
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#608

  1. Blockchain networks in business to business has better trust between parties,and instant access to relevant and original information.

  2. It is decentralized ,can be access by anyone without permission, and is transparent.

  3. *Bitcoin
    *Ethereum
    *EOS

  4. Only authorized personnel.

  5. Mainly because of control and privacy of information.

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#609
  1. It eliminates the need of third parties to manage the relation. Trust is ensured by the blockchain, so as transparency.
  2. Anyone can join a permissionless blockchain and can become a node.
  3. Bitcoin, Ethereum, ADA
    4.Only those authorized
  4. For practical reasons, so bussinesses can adapt the database to better perform according to their needs. They are also easier to scale.
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#610

[quote=“filip, post:1, topic:6383”]

  1. What benefits do blockchain provide in business-to-business collaborations?
    -Trustless transactions.
    -Security.
    -Transparency.

  2. What property of a blockchain does the name “Permissionless” refer to?
    -Permissionless means decentralization, public network.

  3. What are 3 examples of permissionless blockchains?

  • BTC
    -ETH
    -Lite coin

  1. Who are allowed to join a permissioned blockchain network?
    -Only authorized people in the network.

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

  • For privacy
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#611
  1. What benefits do blockchain provide in business-to-business collaborations?
    Provides trust
    • Provides security/resistant to tampering
    • Instant access to relevant and authentic information
    • Access to historical data of all transactions
    *Cost effective
  2. What property of a blockchain does the name “Permissionless” 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.
  1. What are 3 examples of permissionless blockchains?
  • Bitcoin
  • Ethereum
  • Cardano
  1. Who are allowed to join a permissioned blockchain network?
  • Authorized users only.
  1. Why do you think permissioned blockchain networks are preferred by many companies?
  • More control over the data.
  • Limit data to authorized users only.
  • They can leverage the network for their own internal business purposes.
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#612

Trust and instant access.
In business-to-business scenarios, blockchain networks allow for:
increased trust between parties,
instant access to relevant, authentic information.

Public.
Every user can create a private address, interact with the network and add entries.

BTC ,ETH, EOS.

Specific members of consortiums or companies, and members, plus only approved people or computer entities.

More control, use of sensitive data.

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#613

  1. It increases trust between businesses since blockchains are append-only databases.

  2. It means anyone can participate in the network.

  3. Cosmos, Solana and Cardano.

4.Only the businesses that run them.

  1. So they can have control over their blockchain and so entities outside of the business can’t see their transactions.
2 Likes
#614

  1. What benefits do blockchain provide in business-to-business collaborations?
    Blockchain networks allow increased trust and transparency between parties,
    Instant access to relevant and authentic information.
    Provide a historical record of all transactions alongside the means to record these entries.

  2. What property of a blockchain does the name “Permissionless” refer to?
    Everyone can access and have visibility in the blockchain network. Once you follow the blockchain network rules your entries are accepted to the ledger.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin
    Monero
    Litecoin

  4. Who are allowed to join a permissioned blockchain network?
    A permissioned network is centrally controlled by an organisation or closed ecosystem. So they only will accept transactions created by a trusted party.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    This is for security and compliance reasons and the ability to identify users. Cost is much lower as there is no need for mining, all the nodes involved are trusted.
    Increased transactions per second, you only need to time stamp a bunch of transactions and let the nodes sync them over time.

:slight_smile: :slight_smile: :slight_smile:

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#615
  1. Trustless, secure, transparent database solution
  2. Anyone can join either as a user, or as a network operator (nodes)
  3. Bitcoin, Ethereum, Eos
  4. Only authorized entities.
  5. Because they want to control their database
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#616
  1. Some benefits that blockchain provides in business-to-business collaborations are increased trust between parties, and instant access to relevant, authentic information.
  2. Permissionless blockchain refers to public blockchain.
  3. Three examples of permissionless blockchains are Bitcoin, Ethereum, and Dogecoin.
  4. Only approved people or computer entities are allowed to join a permissionless blockchain network.
  5. Permissioned blockchain networks are preferred by many companies because they can have more governance of the network and be transparent about which they choose.
2 Likes
#617
  1. What benefits do blockchain provide in business-to-business collaborations?

A trustless enviroment to fullfill transactions between business and client, eliminating costly third parties.

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

anyone can use the blockchain. there is no overseeing entity granting “permission”.

  1. What are 3 examples of permissionless blockchains?

Bitcoin
Ethereum
Polkadot

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

the overseeing entity (who or what owns and controls the private blockchain) decides who can has acces in whatever varying degree they see fit. ie company employees

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

companies rarely are completly transparent and like to keep the goings on inhouse. also they have complete control this way

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#618
  1. Blockchain networks allow for increased trust between parties, instant access to relevant, authentic information by providing a historical record of all transactions with the storage & record of these transaction entries.
  2. To the accessibility for participating in the network by either performing or approving transactions.
  3. BTC, EOS ETH.
  4. Those approved by the governance body that centralizes the blockchain network.
  5. For complete control over the users within their network.
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#619

  1. What benefits do blockchain provide in business-to-business collaborations?
    The various benefits of blockchains, pertaining to business-to-business collaborations include; increases trust, instantaneous accessibility of authenticated data. Furthermore, historical records of all transactions and/ or the recording of the aforementioned data therein.

  2. What property of a blockchain does the name “Permissionless” refer to?
    Permissionless refers to the abilities of creating addresses and/ or interactions. Hence, the abilities to mine.

  3. What are 3 examples of permissionless blockchains?
    Examples taken fron the supplemental learning materials are; Bitcoin and Ethereum. Permissionless is synonymous with public. Therefore another example of a public blockchain is EOS.

  4. Who are allowed to join a permissioned blockchain network?
    Permissioned and/ or private blockchains are a closed ecosystem. Company consortiums utilize permissioned blockchains accordingly.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Companies leverage network power internally for business operations.

References
Dob, D. (2020), Permissioned vs. Permissionless Blockchains, Blockchains: Understanding The Difference. Retrieved From: https://blockonomi.com/permissioned-vs-permissionless-blockchains

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#620
  1. What benefits do blockchain provide in business-to-business collaborations?

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.

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

Public Block chain,.
3. What are 3 examples of permissionless blockchains?

Eth, Eos, BTC

  1. Who are allowed to join a permissioned blockchain network?
    Only those chosen by the company
  2. Why do you think permissioned blockchain networks are preferred by many companies?

For security reasons. Certain data cannot be in public and they want to control the blockchain.

1 Like