Permissioned vs Permissionless - Reading Assignment

  1. What benefits do blockchain provide in business-to-business collaborations?
  • trust less
  • cuts out middle men
  1. What property of a blockchain does the name “Permissionless” refer to?
    Anyone can join and use the protocol for transactions, as a node or as a miner.

  2. What are 3 examples of permissionless blockchains?

  • bitcoin
  • Ethereum
  • EOS
  1. Who are allowed to join a permissioned blockchain network?
    Those chosen and trusted by the governing body.

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

  • controllable ie tope down governance
  • fire wall around sensitive information
  • obscures transparency
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  1. increase trust between parties and access to updated trustless database.
  2. it allows any potential user to obtain a address and interact with the blockchain network, eg. sending transactions and so forth.
  3. BTH, ETH, LTC.
  4. Specific members that have to opt-in via the centralized cooperation or consortiums of companies.
  5. Data privacy from outside usage, possibility of hierarchies within eg. users with different access levels to data, freedom and higher efficancy to alter and decide governance model as one pleases.
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  1. This is strange: so far all I have read about BC is “trustless” “do not trust, verify”. Now all of a sudden in B2B the BC provides trust…
    Isn’t the case we still do not trust, but by the means of BC-technology we are able to verify our partner in business is not fraudulent?
  2. Anyone can join, there will be no questions asked. This can be a problem? https://forumtest.ivanontech.com/t/hostile-takeover/20085
  3. Bitcoin, Etereum, EOS
  4. Anyone who is accepted by the administrator.
  5. Control of content, users etc.
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1 In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information. This is so thanks to the fact that blockchains provide a historical record of all transactions, alongside the means to record these entries.

2 A Permisionless blockchain allows every user to create a personal address and begin interacting with the network, by submitting transactions, and hence adding entries to the ledger.Moreover, all parties have the choice of running a node on the system, or employing the mining protocols to help verify transactions.

3 BTC, ETH, LTC

4 Permissionless blockchains are run by specific members of consortiums or companies, and members need to opt-in for the creation of such a network. Moreover, 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 companies can exercise power and control over them.

2 Likes

@BERGLUND
I can resonate with you on the B2B version of BC.This shows how business operate and the ethics behind most business.Businesses has infact proven to be reliant on obscurity and I believe that is why they have Trade Secrets to capitalised on ill informed participants.

Therefore full adoption of BC has proven challenging.But what I then realise is B2B are currently seeing efficiency of in the speed it offers in certain aspect of complex data gathering and it’s automation across certain process and therefore businesses will be facing huge competition in client retention and operation efficiency if they do not bow to BC.

2 Likes
  1. What benefits do blockchain provide in business-to-business collaborations?
    Businesses can do peer-to-peer transactions in a trustless way without the need for a centralized third party as to me it looks like the Bitcoin distributed ledger is the third party in the transaction and the miner who mines the block have a financial incentive to not pamper the transaction. As all the parties of an transaction have the access to the same blockchain compared to the information silos, all parties can now in a trustless way verify the transactions legitimacy. This means that all parties in the transaction can be certain of the transactions transparency.
  2. What property of a blockchain does the name “Permissionless” refer to?
    Decentralized, Digital assets, full or partly anonymity and anonymity. No bank or government can deny a person access to the blockchain. In a sense today they can try to block the persons access to the internett, but the internets userbase are growing as we speak and anyone who do their research will find a way to access the Bitcoin blockchain. Anyone has the ability to mine and anyone can do transactions on the bitcoin blockchain. Off course mining with a computer today wont be very profitable, but the opportunity is there.
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Eos and Ethereum
  4. Who are allowed to join a permissioned blockchain network?
    Only those who are approved from the consortium/company that has the governance of the blockchain
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because a company might need efficiency over decentralization since the bitcoin blockchain is so slow today. It will also enable the company to have control over confidencial information and it will bring more efficient operations in the company
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  1. Decentralization (to a certain extent based on the protocol), only create and read access (immutable records), verification vs trust thus removing the need for third parties and minimizing costs,
  2. Whether anyone can freely join the network and run a node or whether you need permission from a certain party to join the network.
  3. Bitcoin, Ethereum, EOS
  4. Whoever the party(ies) in control decide to give access to.
  5. Because businesses want to maintain a certain level of control over their network and the governance, rather than making is permissionless and allowing anyone to participate / have a say in the governance of their data.
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  1. Traceability and immutability of the data transactions. That creates trust between the parties because no one can cheat. Instant access to the data.

  2. Permissionless blockchain is one public, no access permision required (anyone can join), verifiable transactions, decentralized and run by the consensus of its community/nodes/users.

  3. Bitcoin, Ethereum, Cardano.

  4. Only entities trusted by the creator/owner of the blockchain.

  5. Because companies want to keep control over their data and procedures. Limit data access and maintenance some privacy.

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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?
    It allows any user to create a personal address and begin interacting with the network.

  3. What are 3 examples of permissionless blockchains?
    Bitcoin, ethereum, dogecoin.

  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?
    Protect and control of internal business sensitive information and the access to it.

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  1. What benefits do blockchain provide in business-to-business collaborations?
  • Transparency for the transactions.
  • Trust in technology and mathematics not in intermediaries
  • Security
  • Transfer of value and assets
  1. What property of a blockchain does the name “Permissionless” refer to?

Everyone can participate on a public blockchain because no one controls it

  1. What are 3 examples of permissionless blockchains?
  • Bitcoin
  • Ethereum
  • Litecoin
  1. Who are allowed to join a permissioned blockchain network?
  • Only people allowed by the central party of the private Blockchain because it is centralized.
  1. Why do you think permissioned blockchain networks are preferred by many companies?

Because they can create the rules and who can participate in the Blockchain, sometimes they have sensitive data that they don’t want to share to everyone so it is more secure in these cases

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  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.