Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#641
  1. What benefits do blockchain provide in business-to-business collaborations?

Verify, don’t trust; benefits regarding a decentralized ledger, data/transaction sharing, immutable data / transactions, lack of a need for third parties

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

Anyone can participate in the network; for example anyone can run a node

  1. What are 3 examples of permissionless blockchains?

Bitcoin, Ethereum, Avalanche

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

Only those with permission from some central authority

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

Due t o privacy / security of data concerns; lots of valuable data can be stored on the immutable blockchain

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#642

More trust and efficiency, cost efficient as less need for third parties, trust in the transaction history and generally much more secure.

It means it is decentralised and not controlled by a singe entity or group, anyone can use its open and transparent.

Bitcoin, Eth, Eos

Only people with permission within the group, organisation, company or entity that is running it.

For security purposes, speed and efficiency, accountability and privacy.

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#643
  1. What benefits do blockchain provide in business-to-business collaborations?

There are many benefits that blockchain can provide to business to business collaborations; some of them are:

  • Security: virtually impossible to modify a confirmed transaction
  • Public ledger: all data and transaction is visible to anyone
  • Rapid and instant access to the true information
  • No trust on other people needed, trust only on the data
  1. What property of a blockchain does the name “Permissionless” refer to?

It refers to the property that anyone can access to the network and needs no permission from a central entity to create or read the data included in the blockchain.

  1. What are 3 examples of permissionless blockchains?

Bitcoin, Ethereum and EOS are three examples of permissionless (or public) blockchains

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

Only the users approved by the central entity that governs the blockchain network.

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

There are several reasons why a company would choose a permissioned blockchain over a permissionless blockchain; among them:

  • Privacy: only allowed users can access the database
  • It’s cheaper to run because of its centralization and easy consensus
  • Less uncertainty regarding laws and regulations
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#644
  1. In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information, transparency.
  2. Permissionless aka public ledger, refers to the transparent(open) property of a blockchain.
  3. BTC, ETH, EOS.
  4. Only participants that are authorized.
  5. More scalable and faster, more centralised and they have control of the network.
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#645
  1. What benefits do blockchain provide in business-to-business collaborations?
    increased trust between parties, and instant access to relevant, authentic information.
  2. What property of a blockchain does the name “Permissionless” refer to?
    Meaning you don’t need permission to use it
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, Eos
  4. Who are allowed to join a permissioned blockchain network?
    People who have been granted permission.
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because it grants them control.
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#646

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

  2. Public blockchain.

  3. BTC, ETH, EOS

  4. 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 the transaction history.

  5. Because it allows greater control and manipulation.

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#647

  1. What benefits do blockchain provide in business-to-business collaborations?
    In B2B collaborations blockchains provide increased trust between parties and fast and easy access to untampered authenticate data.

  2. What property of a blockchain does the name “Permissionless” refer to?
    The permissionless model refers to a public blockchain netwrok that anyone can access, use and view.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, Dogecoin and ADA are examples of permisionless blockchains.

  4. Who are allowed to join a permissioned blockchain network?
    Only approved members and entities can join a permissioned (private) blockchain network.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Companies prefer permissioned blockchains because it allows them to harness the benefits of such a network for their internal business operations without relinquishing control of governance.

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#648

Permission vs Permissionless Reading Assignment Answers

  1. Two benefits blockchain technology provides B2B is increased trust between parties and instant access to authentic relevant data.

  2. No central Authority, immutable, transparent.

  3. Bitcoin, Ethereum, & Waves

  4. Specifically approved memebers of consortiums/companies, people or computers.

  5. For control over proprietary information keeping certain data internal.

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#649

  1. What benefits do blockchain provide in business-to-business collaborations? Blockchain networks allow for:
    a. Increased trust between parties,
    b. Instant access to relevant, authentic information.
    c. Historical record of all transactions
    d. Means to record these entries.

  2. What property of a blockchain does the name “Permissionless” refer to? Allows anyone to create a personal address and begin interacting with the network, by submitting transactions, and hence adding entries to the ledger. Also, all parties have the choice of running a node on the system, or employing the mining protocols to help verify transactions. Anyone can get involved on the network.

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

  4. Who are allowed to join a permissioned blockchain network? Those specific members who run the private blockchain,

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

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#650
  1. What benefits do blockchain provide in business-to-business collaborations?
    It offers increased trust between parties and instant access to the ledger.
  2. What property of a blockchain does the name “Permissionless” refer to?
    That it is a public blockchain
  3. What are 3 examples of permissionless blockchains?
    Decentralization, digital currency, anonymity, transparency.
  4. Who are allowed to join a permissioned blockchain network?
    Only approved people who are invited to participate in the network
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    To keep their property private and secure to only those who need to know.
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#651

  1. What benefits does blockchain provide in b2b 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?
    it is public
    driven by network consensus
    no permision required to: run a node, and receive incentives
    add to the blockchain
    verify and authenticate past transactions

  3. What are 3 examples of permissionless blockchains?
    bitcoin
    ethereum
    eo

  4. Who are allowed to join permissioned blockchain network?
    only participants that are authorized

  5. Why do you think permissioned blockchain networks are prefered by many companies?
    requires permission
    control over data
    governance
    privacy
    cost effective

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#652
  1. Trust on Data, No Manipulation. Transparent and decentralized. Faster retrieval of data and no middleman.
  2. Blockchain can be accessed by everyone. No blockage of information.
  3. Bitcoin, Ethereum, Polygon, Solano, Cardano
  4. Only the people who have access to the network. Network is controlled by the business.
  5. Due to personal data and company’s intellectual property.
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#653
  1. What benefits do blockchain provide in business-to-business collaborations?
  • trust between the business partners.
  • instant access to authentic info
  1. What property of a blockchain does the name “Permissionless” refer to?
    The lack of censorship. The transactions will be executed according to the consensus mechanism regardless of third parties.
  2. What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, Cardano
  3. Who are allowed to join a permissioned blockchain network?
    It depends on the design and goal of the permissioned blockchain - it could be only the onwers, some users, all users.
  4. Why do you think permissioned blockchain networks are preferred by many companies?
    The members of a permissioned blokchain can rely on the blokchain itself without the need to know each other or information of each-other. For example the Vertax Blockchain of IBM connects competitors in a certain industry that can benefit from the use of blockchain properties without making sensitive information about each other public, but benefit from sharing it to the common blockchain.
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#654

  1. Blockchains increase the trust in business-to-business collaborations as there is a historic record of all transactions that cannot be amended in retrospect.

  2. A “permissionless” blockchain is a public blockchain that anybody can add transactions to and run a node for. It is decentralised, there is no-one in charge of the blockchain, it runs a consensus algorithm.

  3. Three examples of permissionless blockchains are Bitcoin, Ethereum and Dogecoin.

  4. You have to get authorised in oder to join a permissioned blockchain system.

  5. Permissioned blockchain systems are sometimes preferred by companies so they are in control of who can add information and read the blockchain as there may be sensitive data on there.

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#655
  1. Increased trust between parties, access to relevant and authentic information
  2. Permissionless refers to the public nature of the blockchain and its open for anyone to use
  3. Bitcoin, Etheruem & Litecoin
  4. Only approved and trusted users are allowed to access permissioned blockchains.
  5. Companies prefer permissioned blockchains to maintain management control, protect data sensitivity and hide competitive strategies.
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#656
  1. Creates increase trust between the business. Transactions are 100% settled within 60 min.
  2. Public blockchain
  3. Bitcoin, Ethereum, Cosmos
  4. Only approved people of computers.
  5. The company can choose who has asscess to what sections of the ledger based on their qualifications. They can run whatever code they want no need for 51% vote
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#657

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

  • Eliminates third party
  • Increases trust
  1. What property of a blockchain does the name “Permissionless” refer to?
  • Allows any user to interact with the blockchain
  1. What are 3 examples of permissionless blockchains?
  • bitcoin
  • ethereum
  • EOS
  1. Who are allowed to join a permissioned blockchain network?
  • Those allowed by a central organization
  1. Why do you think permissioned blockchain networks are preferred by many companies?**
  • For control in a closed ecosystem
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#658

  1. What benefits do blockchain provide in business-to-business collaborations? security of transferring of information, transparency, instant access to information & inherent trust

  2. What property of a blockchain does the name “Permissionless” refer to? anyone can access the network as it is open and decentralized

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

  4. Who are allowed to join a permissioned blockchain network? only users approved or authorized by the entity that governs that network

  5. Why do you think permissioned blockchain networks are preferred by many companies? to keep information private and they have control

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#659

  1. What benefits do blockchain provide in business-to-business collaborations?
    -There is trust between two parties.
    -Costs are effective because it limits a third party
    -Secures information
    -Enables transaction of value

  2. What property of a blockchain does the name “Permissionless” refer to?
    it refer to public blockchain, no central entity is entitled to run the network. Incase of any changes, it has to be a mutual agreement between all networks.

  3. What are 3 examples of permissionless blockchains?

  • Bitcoin
  • Ethereum
  • Litecoin

  1. Who are allowed to join a permissioned blockchain network?
    Only those authorised by the blockchain network.

  2. Why do you think permissioned blockchain networks are preferred by many companies?
    -Because there is more control over data. Data is only accessed by the relevant user.
    There is low transaction costs.

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#660

What benefits do blockchain provide in business-to-business collaborations? (permissioned)

  • It is a closed blockchain where the owners decide who can join.
  • The blockchain can be controlled by a centralized entity deciding what consensus mechanism is used.
  • No need for anonymity so you can see who does what.
  • No need for transparency so rights of what information someone can see can be decided.

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

  • Anyone can be part of the blockchain without a permission.

What are 3 examples of permissionless blockchains?

  • Bitcoin
  • Etherium
  • EOS

Who are allowed to join a permissioned blockchain network?

  • That is for the blockchain owner to decide.

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

  • They want to keep sensitive business related information, data and transactions to themselves.
  • They want control over the whole network and participants.
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