Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#661
  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.
  1. What property of a blockchain does the name “Permissionless” refer to?
  • “Permissionless” refers to all individuals
  1. What are 3 examples of permissionless blockchains?
  • Ethereum, Bitcoin, EOS
  1. Who are allowed to join a permissioned blockchain network?
  • Only invited entities are allowed to join
  1. Why do you think permissioned blockchain networks are preferred by many companies?
  • Fully controlled by the company, Can assign different levels of permission to users, Not required to be transparent.
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#662

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

  2. Transparency as all can access the information at the same time.

  3. Security as the transactions are immutable.

  4. No cost is involved to engage any third-party intermediaries.

  5. Efficiency as transactions can be recorded almost immediately by the miners.

  6. What property of a blockchain does the name “Permissionless” refer to?
    It is a public blockchain and no permission is required to view the transactions.

  7. What are 3 examples of permissionless blockchains?

  8. Bitcoin

  9. Ethereum

  10. EOS

  11. Who are allowed to join a permissioned blockchain network?
    Only those that are authorized by the owner.

  12. Why do you think permissioned blockchain networks are preferred by many companies?
    They like to have control over their data. Only relevant staff will have access to the relevant data, and not all the data.

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#663

  1. What benefits do blockchain provide in business-to-business collaborations?
    In business-to-business blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information.

  2. What property of a blockchain does the name “Permissionless” refer to?
    That they are public and anybody can use.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin
    Etherium
    cardano

  4. 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 the transaction history.

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

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#664

  1. What benefits do blockchain provide in business-to-business collaborations?
    *Blockchains provide historical records of all transactions, these records help to increase the trust between parties, grating them with instant access to information that is relevant and authentic.

  2. What property of a blockchain does the name “Permissionless” refer to?
    Permissionless blockchains refers to a public blockchain where anyone can create a personal address and interact with the network adding transactions, running a node, or verify transactions.

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

  4. Who are allowed to join a permissioned blockchain network?
    Only users or computers approved from a private blockchain can join it.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    For the need to protect data and have control over it.

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#665

  1. blockchain allows businesses to collaborate with each other without any middle-man involved.

  2. “Permissionless” refers to how anybody can check/read the blockchain to validate and verify the written contents.

  3. Bitcoin, Ethereum, and Litecoin are all examples of permissionless blockchains

  4. Only those who are permitted by the concerning company that is running the blockchain would be able to join the concerning permissioned blockchain network.

  5. Permissioned blockchain networks not only allow companies to keep sensitive data away from public eyes, but also maintain control/governance over the blockchain.

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#666
  1. Some benefits of a blockchain in business-to-business collaborations are: resistance to tampering, providing great security, network consensus, peer-to-peer (P2P) transmission and storing.
  2. Permissionless blockchain means it is a public blockchain - accessible by all without the need of central authority.
  3. Examples of permissionless blockchains are: Bitcoin, Ethereum, Bitcoin Cash
  4. Only those persons/entities with the same vision, mission, and interests are allowed to join a permissioned blockchain.
  5. Permissioned blockchain are preferred by companies because they do not necessarily want to include entities which are not of the same purpose.
2 Likes
#667
  1. What benefits do blockchain provide in business-to-business collaborations?
    Transparency, transactions not needing third parties, secure access to data.
  2. What property of a blockchain does the name “Permissionless” refer to?
    It refers to the lack of limitations imposed by the developers, meaning there is no central authority.
  3. What are 3 examples of permissionless blockchains?
    BTC, ETH and EOS.
  4. Who are allowed to join a permissioned blockchain network?
    Only those who are accepted by the entity/person running it.
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Companies prefer to have full control over their internal processes, it’s a matter of security and governance.
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#668
  1. What benefits do blockchains provide in business-to-business collaborations?

A blockchain can generate a more transparent business environment and, depending on the design of the blockchain (e.g. control, governance), can create a high level of trust between business partners. Business partners can use data that is stored on the blockchain and proven to be authentic to quickly verify information that is relevant to the business, which creates a trustless environment, increases efficiency and reduces opaqueness. Therefore, a blockchain environment can increase transparency of business processes, reduce the number of intermediaries, reduce the cost of asymmetric information, thereby benefitting the involved business partners on several dimensions (monetary and non-monetary).

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

In this context, permissionless refers to the fact that anyone can join the blockchain (become a member of the network, i.e. a user, full node, or a miner) and any network member has the permission to read (access and view all records stored on the blockchain) and create data entries (e.g. create a transaction).

  1. What are 3 examples of permissionless blockchains?

Bitcoin, Ethereum, Dogecoin

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

In a permissioned blockchain, there is either a single authority or a small group of selected members that can grant other computers/machines/people access to the blockchain network.

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

Private companies want to exploit the benefits of blockchain technology (e.g. data immutability, removing trust, etc.) while still maintaining control about key characteristics about the network (governance). A company may want to use a blockchain to make the business process with selected business partners more transparent, but is does not want the data to be accessible to anyone outside the network.

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#669

  1. In a business to business scenario, blockchain networks allow for increased trust and instant access to relevant and authentic information. That’s because blockchains provide a historical record of all transactions.

  2. Public blockchains which allows every user to create a personal address and begin interacting with the network. There’s more transparency going on.

  3. Bitcoin, Ethereum and Dogecoin

  4. Authorized people

  5. More control, governance, privacy and cost efficient

1 Like
#670
  1. What benefits do blockchain provide in business-to-business collaborations?
    blockchain tech is helping business save time and money by eliminating the need for a third party to transact. The technology builds trust and makes it possible for b2b to transact directly.
  2. What property of a blockchain does the name “Permissionless” refer to?
    Decentralization where the control is spread throught the network and anyone can join at any time.
  3. What are 3 examples of permissionless blockchains?
    bitcoin, ethereum, ravencoin
  4. Who are allowed to join a permissioned blockchain network?
    those whom the central authority gives permission to, depends on governance rules
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because many companies create important data that needs to be kept private.
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#671

1)Blockchain allows for increased trust between parties and instant access to relevant authentic information.

2)Permissionless refers to the fact that every user can create a personal address and begin interacting with the network.

3)Bitcoin, Ethereum and Litecoin.

4)Only approved people or computers can join a permissioned Blockchain.

5)Many companies wish to keep some of their data private and do not want everybody to have access to it.

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#672
  1. What benefits do blockchain provide in business-to-business collaborations?
    Trustlessness, Integrity, Decentrailization, and Transparency
  2. What property of a blockchain does the name “Permissionless” refer to?
    Trustless
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Etherium, NFT
  4. Who are allowed to join a permissioned blockchain network?
    Only invited persons
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Companies are controlled centralised entities and that is what a permissioned network is
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#673
  1. What benefits do blockchain provide in business-to-business collaborations?
    –> More efficiency (cost effectiveness), trust between the parts, tampering resistance, governance, easy access to relevant information.
  2. What property of a blockchain does the name “Permissionless” refer to?
    –> Anyone can join the network, all the historical data is transparent to anyone to see it.
  3. What are 3 examples of permissionless blockchains?
    –> bitcoin, ethereum, algorand.
  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 many companies don’t want to open their business operations details to the public.
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#674

  1. Blockchain networks offer for enhanced confidence between parties and rapid access to important, accurate information in business-to-business circumstances. This is due to the fact that blockchains provide a historical record of all transactions as well as the ability to record them.

  2. There is no central authority governing the ‘permissionless’ blockchain, meaning that they are decentralised (run by nodes). In addition to this, such blockchains are fully transparent, which means that all transactions can be found on a public database.

  3. Bitcoin, Elrond, Ethereum

  4. Furthermore, only approved persons or computer entities have the ability to manage network nodes, validate transaction blocks, issue transactions, execute smart contracts, or view transaction history.

  5. The protocols on private blockchains are not as strict as that of public blockchains, since they are not opened to the outside users. In addition to this, private blockchains allow a single controlling entity or a group of entities to make decisions about how the network is built, its protocols, and what users can do.

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#675

  1. increased trust between parties , instant access to information

  2. refers to the decentralization characteristic of permission less blockchain

  3. ADA , MKR , QTUM

  4. approved people or computer entities

  5. centralization , privacy / transparency , self governance , level tiers of users

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#676

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

  2. Permissionless blockchains allow for any user to create a personal address, submit a transaction thus adding entries to the ledger, run a node and employ mining protocol.

  3. ETH, BTC, EOS

  4. Only those with permission may interact with a permissioned blockchain.

  5. Companies can have direct control over the ledger, whilst gaining transparency and privacy, thus protecting proprietary business secrets.

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#677
  1. security and access to all data of transactions
  2. public blockchain that anyone can use without permission
  3. EOS, ETH and DOT.
  4. who ever has permission
  5. control over the data and limited users.
1 Like
#678
  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. blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information.
  2. What property of a blockchain does the name “Permissionless” refer to? It refers to it being a public blockchain where anyone can interact
  3. What are 3 examples of permissionless blockchains? BTC, ETH, LTC
  4. Who are allowed to join a permissioned blockchain network? Someone who is invited
  5. Why do you think permissioned blockchain networks are preferred by many companies? It allows them to keep control over who is on their network
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#679
  1. Blockchain gives the businesses the transparency of all transactions and increases the trust between them.
  2. Permission-less Blockchains are public and need no permission for it’s use,
  3. Examples of permission-less blockchains are :
    Bitcoin
    EOS
    Etherium - which you can make Smart contracts.
  4. Only those who are authorized can work in a permissioned blockchain.
  5. Permissioned blockchain gives the company control over their own network and internal business operations.
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#680
  1. The benefits blockchain provides in business-to-business collaborations is that blockchain networks allow for increased trust between parties, along with instant access to relevant, authentic information. The fact that blockchains provide an historical record of all transactions, alongside the means to record these entries, also means that in the future the way B2B/user transactions and processes are carried out, will be revolutionised. This is especially so with the introduction of other technologies such as automation, artificial intelligence, Internet of Things, machine learning, etc.
  2. "Permissionless” (or Public) blockchain networks allow any user to create a personal address to begin interacting with the network, by submitting transactions, and hence adding entries to the ledger without permission from anybody. In addition, any user has the choice of running a node on the system, or employing the mining protocols to help verify transactions.
  3. Permisionless blockchains power most of the cryptocurrency market’s digital currencies; Bitcoin, Ethereum and Litecoin are 3 examples of these.
  4. “Permissioned” (or private) blockchain networks are run by specific members of consortiums or companies, and members need to opt-in to be allowed to join such a blockchain. Additionally, 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. In my opinion permissioned blockchain networks are preferred by many companies due to a number of reasons: they can be fully centralised or partially decentralised, given the fact that businesses manage customer’s information so control is necessary; they are not required to be transparent, but can choose to do so freely if they wish, depending on the inner organization of the businesses; and their governance is decided by members of the business as there are numerous dynamics which can determine how decisions are made on a central level, so there is no need for consensus-based mechanisms as in permissionless blockchains.
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