Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#321

  1. The benefits between two businesses using blockchain are, no third party, and immutable transaction ledger all parties can review, not to mention a smaller accounting department, because everything you need to know is in the transaction details.

  2. The term permissionless in blockchain refers to the decentralized nature of the database.
    3.Bitcoin , Ethereum,and EOS are examples of permissionless blockchains.

  3. The boss decides who is allowed on permissioned blockchains.

  4. Permissioned blockchains would be preferred by many companies because its easier to prevent transactions they don’t like.

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#322
  • Increased trust between parties
  • Transparency
  • Instant access
  • Immutable data of records
  • Authenticity
  • Decentralisation
  • Digital asset
  • Ananymity
  • Transparency

Polkadot
Tezos
Cardano

Users with approval to access the blockchain network

It is better for internal business operations and having central governance gives the companies more control.

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#323
  1. What benefits do blockchain provide in business-to-business collaborations?
  • trustless environment.
  • eliminate 3rd party
  • transfer of data/assets/value between two parties

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

  2. What are 3 examples of permissionless blockchains?
    EOS, bitcoin, ethereum

  3. Who are allowed to join a permissioned blockchain network?
    those with the permissioned keys

  4. Why do you think permissioned blockchain networks are preferred by many companies?
    It’s controllable in many ways

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#324

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

  • Increased trust and instant access to relevant authenticated information.

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

  • You don’t need permission - anyone is allowed to submit transactions, create and deploy smart contracts, and/or run a node on the system.

3. What are 3 examples of permissionless blockchains?

  • Bitcoin, Ethereum, and EOS

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?

  • Most companies will choose a permissioned or semi-permissioned blockchain network so they can control 1) the level of transparency of their data, 2) the level of access each user has to data and to performing operations (like submitting transactions or writing smart contracts), and 3) the network’s governance system.
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#325

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

  2. “Permissionless” refers to the property that the blockchain is open to the public.

  3. Bitcoin, Ethereum, Tron

  4. Only those allowed by the central authority who owns the permissioned blockchain will be allowed access.

  5. Permissioned blockchains are preferred by companies because they have the power and control over who has access to the blockchain.

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#326

  1. What benefits do blockchain provide in business-to-business collaborations?
    increased trust between parties.

  2. What property of a blockchain does the name “Permissionless” refer to?
    Decentralization (no third part), transparency a required characteristic,
    must be incentivised to trust the network. Anonymity. Digital assets.
    They are more open to users but with more strict protocols.

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

  4. Who are allowed to join a permissioned blockchain network?
    These networks are closed ecosystems, which requires permission to enter,
    internal business operations, where one is not freely able to join
    the network or issue transactions of their own.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Beacuase of more control over data and what the users can do and view.
    It reguire permission. Central governing.

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#327

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

Answer: A sort of third party escrow account between two or more parties. Trustless smart contracts, replacing middlemen, like attorneys.
From the article: “In other words, 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.”

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

Answer: With Bitcoin, who can set up a node to mine for example, and with Ethereum, anyone can create a smart contract.

  1. What are 3 examples of permissionless blockchains?

Answer: Bitcoin, Ethereum, Litecoin

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

Answer: Trusted, and vetted sources.

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

Answer: They want to keep their assetts and information private.

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#328
  1. What benefits do blockchain provide in business-to-business collaborations?
    Blockchain provides transparency for data and transactions, proof of work, as well as security.
  2. What property of a blockchain does the name “Permissionless” refer to?
    Permissionless B-chains allow anyone to set up a private key and interact with the network. No special access required.
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum, EOS
  4. Who are allowed to join a permissioned blockchain network?
    Only those who have need are given private keys to access a permissioned network.
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Companies have lots of proprietary information that may need to be kept private, especially in the case of healthcare for example. In this case a private and permissioned blockchain makes the most sense.
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#329
  1. No third trusted party is needed / it is transparent for everyone / it is secure
  2. There is no central authority granting permission to users on the blockchain
  3. BTC / ETH / EOS
  4. people with a certificate to join the permissioned blockchain network
  5. They still have control over the network
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#330

  • What benefits do blockchain provide in business-to-business collaborations?
    Blockchain allows an increase of trust between businesses, and realtime access to relevant, authentic information. Blockchains also provide a historical record of all transactions, and a way to record these transactions.

  • What property of a blockchain does the name “Permissionless” refer to?
    The ability to allow everyone to participate and contribute to the blockchain.

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

  • Who are allowed to join a permissioned blockchain network?
    Only those who the controlling organizations or companies allow to join the blockchain.

  • Why do you think permissioned blockchain networks are preferred by many companies?
    A permissioned blockchain is preferred by a company because it safeguards its business practice and communications with other business entities as part of its normal business practice.

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#331
  1. What benefits do blockchain provide in business-to-business collaborations?

The highlight is the removal of the need for trust and trust mediators in general

A ledger that is basically read & update only, meaning everything is logged and practically unremovable

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

The ability to use or contribute to the network as a miner for example

  1. What are 3 examples of permissionless blockchains?

Bitcoin, Ethereum, LTC, BCH, NEO etc

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

Only those that meet the requirements put forth by the company authority managing the BC

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

Because they don’t want anyone to see what they are doing, mainly competitors I guess

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#332
  1. Blockchains provide higher security and verification between businesses.
  2. Permissionless means that you don’t need to get permission from anyone in order to participate in the blockchain. It’s public, therefor no one is in control of the system.
  3. Bitcoin, Ethereum, Cardano
  4. Permissioned blockchains only allow participants who are authorized to access the network.
  5. Permissioned blockchains are preferred by business’s because companies don’t want sensitive information available on a public blockchain. Privacy is important for private companies.
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#333

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

  2. Permissionless blockchain or public blockchain refers to an open blockchain that does not limit anyone using the network. They can easily create an address or interact with the blockchain and adding entries to the network.

  3. Bitcoin, Etheruem, EOS

  4. 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. Because they do not want to lose the control and also they want to be able to create different levels of data viewing.

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#334
  1. What benefits do blockchain provide in business-to-business collaborations?
  • Provides trust : transparency
  • Provides security/resistant to tampering
  • Instant access to relevant and authentic information
  • Access to historical data of all transactions
  • Cost effective
  1. What property of a blockchain does the name “Permissionless” refer to?
  • It is public so censor from an authority
  • Driven by network consensus
  • No permission is required to:
    • Run a node, and receive incentives
    • Add to the blockchain
    • Verify and authenticate past transactions
  1. What are 3 examples of permissionless blockchains?
    • Bitcoin
    • Ethereum
    • EOS
  2. Who are allowed to join a permissioned blockchain network?
    Only participants that are authorized and mostly through POS, stake owners
  3. Why do you think permissioned blockchain networks are preferred by many companies?
    • Requires permission : easy control
    • Control over data – what can and cannot be viewed and by whom
    • Governance : concensus may slow business intelligence
  • Privacy : flexible in the black box.
  • Cost effective : central means less management
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#335

  1. What benefits do blockchain provide in business-to-business collaborations?
    Trust between parties and instant access to trusted information.

  2. What property of a blockchain does the name “Permissionless” refer to?
    It refers to a blockchain that is public, rather than private.

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

  4. Who are allowed to join a permissioned blockchain network?
    Anyone who needs the authorization that is granted by the centralized authority.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    They retain full control of the blockchain, and leverage it for themselves.

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#336

Response:

  1. In B2B collabs, blockchain provides trustlessness between parties to access information.
  2. Being public and open (for anyone to use) is Permissionless.
    • BTC / ETH / HYPERLEDGER are 3 types of permissionless blockchains.
  4. In order to join a permissioned blockchain, you must be invited or added to the network.
  5. Many companies prefer permissioned blockchains as they will have better control over how they are ran. Transactions can remain private and only those given clearance can view them. Governance is also closed to those who are delegated by the company itself.
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#337
  1. For business-to-business (B2B) collaborations, blockchains can provide “increased trust between parties, and instant access to relevant, authentic information.”

Source: https://blockonomi.com/permissioned-vs-permissionless-blockchains/

  1. The permissionless property of a blockchain refers to its universal access to any and all users, allowing them to create their own address and interact with all its features, including transactions and transaction history.

  2. Some examples of permissionless blockchains include:

  • Bitcoin
  • Ethereum
  • Uniswap

  1. Permissioned blockchain networks are controlled by a central authority, and thus access is limited to a select few users, namely the members of the governing organization of the permissioned blockchain.

  2. Permissioned blockchains allow companies to have more efficient internal operations because all approved users have easy access to the necessary (private) data. They also allow superusers of the blockchain to assign approved users only the sufficient and necessary data needed to carry out their tasks and projects, without giving anymore data away.

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#338
  1. Industries that have common needs and resources could create a blockchain to collaborate and share resources. The first implementation that comes to mind is in the transportation activity. There are probably many trucks from different companies going to the same places with spare capacity. This is an area for logistics optimization via blockchain.
  2. Permissionless means that nodes and actors do not need permission to participate.
  3. Bitcoin, Ethereum, and EOS amongst others are examples of permissionless blockchains.
  4. In permissioned blockchains actors need to request and be granted authorization to participate.
  5. For a long time, companies have engaged in virtual gateways in which a consortium of companies share relevant information with each other, maintaining their more private data secured from the consortium. The implementation of permissioned blockchain could be a great replacement for the consortium gateway model in which companies run in the blockchain the data they want to share. This will still keep the company private data secure even form the participants of the consortium.
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#339

  1. In business to business collaborations, blockchain provide access to two (2) different network systems (Premissioned and Premissionless). They vary in constraints which are put on the users. For permissioned networks which are mainly private, transparency and anonymity is innot required. In permissionless networks transparency and anonymity is required. Governance is also factor of benefit in most networks as well as decentralization which can vary.

  2. Permissionless refers to public usage of the blockchain as well as decentralization, incentivisation for honesty, transparency and anonymity.

  3. Permissionless blockchain are for instance Bitcoin Network, Etherium and EOS networks.

  4. Permissioned blockchain networks are joined by enterties or individuals who were granted access to be a node on the network.

  5. Permissioned blockchain networks are preferred by many companies as it allows them governance. They can determine how the network is created, its protocols and what users can do.

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#340
  1. What benefits do blockchain provide in business-to-business collaborations?
    Blockchain allows increased trust between different parties in accessing transparent and correct information.
  2. What property of a blockchain does the name “Permissionless” refer to?
    Permissionless is a property where it allows access for people to use the blockchain network without needing to verify ID or request for access.
  3. What are 3 examples of permissionless blockchains?
    Bitcoin, Ethereum and Dogecoin
  4. Who are allowed to join a permissioned blockchain network?
    People who have received permission, verification, or access level to the blockchain network can join the permissioned blockchain
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    One thing that came up in mind would be proprietary data, and the governance where business decisions are only made by people who have been granted access to the permissionless blockchain.
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