Permissioned vs Permissionless - Reading Assignment

  1. Increased trust and instant access to relevant information.
  2. It refers to the fact that this is a public network.
  3. Bitcoin, Ethereum, Litecoin
  4. Only approved people
  5. They provide more security for companies, allow more central governance to make decisions on how the network is run.
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  1. What benefits do blockchain provide in business-to-business collaborations?
    —It provides security with transferring data, assets, or value between two parties

  2. What property of a blockchain does the name “Permissionless” refer to?
    —This refers to the decentralization aspect of the blockchain

  3. What are 3 examples of permissionless blockchains?
    —Bitcoin, Etherium, Celer Network

  4. Who are allowed to join a permissioned blockchain network?
    —The admin holder of the network and who they allow access to the network

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    —its governance because it gives those authority the right to set their own rules rather than depend on the consensus of a network

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  1. An increased trust with immediate relevant, authentic, and historic date

  2. Public side of the blockchain

  3. Lightcoin, Dash, Monero

  4. Membership is open to all

  5. To manage the dissemination of information

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  1. Blockchain technology offers the following benefits:
  • decentralization
  • immutability
  • security
  • transparency
  • no third-party verification
  • append-only data structure
  1. Permissionless blockchain means public requiring no permission to join the network.

  2. 3 examples of permissionless blockchains:

  • Bitcoin
  • Ethereum
  • Cardano
  1. A permissioned blockchain allows anyone to join the network after suitable verification of their identity, and allocation of select and designated permissions to perform only certain activities on the network.

  2. Permissioned blockchain networks are preferred by many companies because they can put in the necessary restrictions selectively while configuring the networks, and control the activities of the various participants in the desired roles.

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1.- Allow increased trust between parties and instant access to relevant, authentic information. Historic transactions are also available in the blockchain.

2.- Decentralization, no central authority.
Digital Assets by tokenization. Anonymity, it does not need to submit personal data to do some transactions, however it some case KYC is needed to comply government`s law.
Transparency: Information is available in the blockchain in benefit to all users, this increase trust in the network.

3.- Bitcoin, Ethereum and Litecoin.

4.- Entities or users with authorization granted by central authority.

5.- Some prefer permissioned blockchain because the consensus algorithm and governance. Also in case when transparency is not wanted and historical transactions do not need be public.

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  1. What benefits do blockchain provide in business-to-business collaborations?
    No third party needed, no permissions, corruption limited, transparency, and censorship resistant.

  2. What property of a blockchain does the name “Permissionless” refer to?
    The transactions are permissionless which means you don’t need a bank’s blessing to send money or make a payment.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, Cardano (now with Shelly update) Not sure about EOS through their governance who has frozen accounts in the past.

  4. Who are allowed to join a permissioned blockchain network?
    Approved people by the private organization are allowed to join a permissioned blockchain.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Most people are conditioned to the idea that field professionals are best for the important responsibilities in life. We ask Doctors, They tell us, We do what is said. We ask financial consultants, they tell us, We do what they say. Most conventional minds depend on others to guide their personal power because that is the way it has been taught for a long long time. (at least in the US) The structure of companies working this way is the safest bet because many private permissioned networks/blockchains listen to the rules of the “professional” regulators and that comforts most traditional thinking companies coming into this space. Less risky.

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  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.
  2. 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.
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, ETH, EOS, any cryptocurrency in general.
  4. Who are allowed to join a permissioned blockchain network?
    Only the users that have a permision to join from the centralized organization.
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because they can control everything that is happening within the blockchain, the users that join, the regulations that are applied, information is distributed quicker and consensus can be reached very fast as the number of nodes is reduced.
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1.Provides transparency between companies

  1. Means its Public where anyone can use and not controlled by anyone

  2. incentives, trustless, public

  3. People given access by the controlling entity

  4. It gives the owners of the companies control

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  1. blockchain represents a distributed ledger that is based on cryptographic protocols, is resistant to tampering, provides great security, is driven by network consensus, and allows data to be transmitted and stored in a peer-to-peer (P2P) fashion.
  2. Anyone can join and use the network, no one manages the network apart from the network itself with its protocol.
  3. BTC, ETH, EOS.
  4. Only users that are allowed in by the central authority/manager.
  5. Because they have the control, also better governance. They keep the data away from unintended users.
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  1. What benefits do blockchain provide in business-to-business collaborations?
    A. Provides increased trust between parties, instant access to relevant & authentic information and 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?
    A. The main properties are Decentralize, Digital Asset, Anonymity & Transparency.
  3. What are 3 examples of permissionless blockchains?
    A. Bitcoin, Ethereum & EOS
  4. Who are allowed to join a permissioned blockchain network?
    A. Internal business users that are Authorized on the network like Admins.
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    A. Because the companies want to keep their records secret and don’t want it on the open platform for everyone to see and not having control over it.
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  1. What benefits do blockchain provide in business-to-business collaborations?

Trustless, thus can do business with anyone. Clarity as every action or transaction is recorded and is transparent.

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

The property that bitcoin has ie anyone can download the Blockchain and become a node. Alternatively, anyone can use bitcoin there is no central authority you have to apply to. It’s also fairly anonymous.

  1. What are 3 examples of permissionless blockchains?

Bitcoin, EOS, Ethereum

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

People who are trusted to have access to business secrets or people who need full or limited access to fulfill a certain role.

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

Because it’s not necessary for all and sundry to have access to it and the information therein. There may be business secrets and sensitive information to be kept away from the public or competitors. It needs to be kept purpose built and not hijacked by the general public. It’s expensive to build and see you don’t want anyone and everyone using it. If it’s permissionless then there needs to be insentives to keep it secure, the company may not want to issue insentives. Permissioned is simpler for a business. It’s a smaller network and thus more efficient.

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1 Increased trust betwee B/B partners and theyr instant access to relevant authentic information

2 No permision requered
Trust no one
Transparancy
Anonymity
Decentralized

3 Bitcoin
Ethereum
Eos

4 The “owner” of the project

5 The advantage in using blockchain,internal access and having control

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  1. What benefits do blockchain provide in business-to-business collaborations?
    It allows trustless transactions that don’t require third parties to be involved and it keeps immutable records that are very secure and easy to authenticate.

  2. What property of a blockchain does the name “Permissionless” refer to?
    There’s no central authority over a permissionless blockchain, so anyone can use and/or support the network by making transactions and/or participating in the consensus platform.

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

  4. Who are allowed to join a permissioned blockchain network?
    Only people who are authorized by the particular blockchain authorities/owners.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because the information on their blockchain can be kept private to anyone outside their authorized users, so they maintain control.

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  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?
    Open and decentralized

  3. What are 3 examples of permissionless blockchains?

  4. Bitcoin, 2. Eth and 3. waves

  5. Who are allowed to join a permissioned blockchain network?
    Those who are approved by the permissoined governance

  6. Why do you think permissioned blockchain networks are preferred by many companies?
    It provides a layer of control to their workflow. And visibility/transparency can be provisioned on a user case basis. Retaining the best of blockchain and centralization paradigms - particularly in industries that require confidentiality/privacy like banking/finance etc.

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  1. What benefits do blockchain provide in business-to-business collaborations?
    – Blockchain provides increased trust between parties due to decentralization, cryptographic security, transparency and it also allows for instant access to relevant, authentic information

  2. What property of a blockchain does the name “Permissionless” refer to?
    – Blockchain is decentralized. Anyone can create private address(s) and join the network without requiring permission for a central authority.

  3. What are 3 examples of permissionless blockchains?
    – Three examples are Bitcoin, Ethereum, and Monero

  4. Who are allowed to join a permissioned blockchain network?
    – Centralized organizations that belong to the same industry, consortium, or that trade with each other

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    – They are preferred because they have business relationships, industry, or trade in common and some amount of agreement between the parties on items such as the amount of decentralization,
    Transparency/Anonymity, and goverance is required

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  1. In business-to-business collaborations, blockchain provides an increased trust between parties due to the historical record that it can provide about transactions.

  2. “Permissionless” blockchains have the property of being decentralised, with changes coming from consensus protocols.

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

  4. Members of consortiums or companies, or other designated members, are the ones who can join a permissioned blockchain network.

  5. Permissioned blockchain networks are preferred by many companies because they give more leverage and control to the companies in charge of them.

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Loved your answer. Easy to understand. Great work. :clap:

Carlos Z.

  1. What benefits do blockchain provide in business-to-business collaborations?
    increased trust between parties, instant access to relevant, authentic information, blockchain provides a historical record of all transactions between parties

  2. What property of a blockchain does the name “Permissionless” refer to?
    it is public, everyone can participate in it. You can run your own node, develop your own smart contracts, create wallet and making transactions…

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

  4. Who are allowed to join a permissioned blockchain network?
    only approved people/nodes

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    it is logical. only limited number of people has access to it so it is kinda private and under control of this central authority who maintain network.

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1 increase trust between the parties, and instant access to authentically information, cheaper
2 that is Public
3 Bitcoin Cardano. Etherium
4 anyone that has been approved by the owner of the block chain
5 require permission/ Security / Lower costs/ Increase transparency/ Privacy/

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

  • immutability of data
  • transparancy for internal purposes (internal audits) and flexibility to be fully transparent to externals (ie. NGOs)
  • trust among members in the closed business network (ie. banks, NGOs)

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

  • everybody can join the network without asking for persmission
  • one can add transaction, be a node or a minder without someone to approve it

3. What are 3 examples of permissionless blockchains?

  • NEM
  • Hyperledger Fabric
  • Corda

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

Those who the owner or sponsor of the private blockchain allows to join (ie. company management)

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

not everybody should see all company data. many thinks have and need to be confidential.

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