Permissioned vs Permissionless - Reading Assignment


#21
  1. What benefits do blockchain provide in business-to-business collaborations?
    It provides increased security and trustless way of doing operations. There is no need for the 3rd parties hence, the costs are reduced heavily.
  2. What property of a blockchain does the name “Permissionless” refer to?
    These are so called public blockchains.It has a public ledger where all transactions are stored and can be monitored.
  3. What are 3 examples of permissionless blockchains?
    BTC, LTC, ETH
  4. Who are allowed to join a permissioned blockchain network?
    Users with access rights and network connection (if offline) are allowed to join.
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    This information stored cannot be changed and this provides curtain level of transparency and increased security while controlling the network and the rights.

#22
  1. What benefits do blockchain provide in business-to-business collaborations?
  • Secure data sharing & transactions

  • Transparency

  • Efficient business operations through P2P communication

  1. What property of a blockchain does the name “Permissionless” refer to?
  • The decentralised & distributed nature is a defining property of a permissionless blockchain, whereby, the network is public & any single entity can actively contribute & transact with equal authority (i.e. permissions)
  1. What are 3 examples of permissionless blockchains?
  • Syscoin
  • Bitcoin
  • Ethereum
  1. Who are allowed to join a permissioned blockchain network?
  • Only authorised identities who are granted access (to varying degrees).
  1. Why do you think permissioned blockchain networks are preferred by many companies?
  • High-level of governance

  • Security & scalability while limiting transparency

  • Customisable database to accomodate dynamic businiess operational needs.


#23
  1. Transparency in transactions between B2B, easily audit of such transaction, trusted (no intermediary needed)
  2. Everyone can opt in to participate into the network or leave the network at there own will
  3. Bitcoin, Etherium, Monero , Monero, Monero
  4. Only participants that are approved or invited can join a permissioned blockchain network
  5. There is a need for control in permissioned blockchain as the data can contain industry secrets or “know hows” (security) that need to be kept secret in order for the maker of the network to continue existing

#24
  1. What benefits do blockchain provide in business-to-business collaborations?
    • Eliminate 3rd parties (provides trust)
    • Anti-tampering/security
    • Transparency
  2. What property of a blockchain does the name “Permissionless” refer to?
    • Public transparency and use
  3. What are 3 examples of permissionless blockchains?
    • Bitcoin
    • Ethereum
    • Monero
  4. Who are allowed to join a permissioned blockchain network?
    • Authorized users
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    • Data confidentiality/privacy
    • Easier to scale
    • Greater control

#25

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

A distributed ledger (DLT) based on cryptographic protocols, driven by network consensus, and that allows data to be transmitted and stored in a peer-to-peer (P2P) fashion creates the transfer of data/assets/value between two parties, while eliminating the need to rely on a third party to facilitate the said transfer.

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

Decentralization: no central entity has the authority to edit the ledger, shut down the network, or change its protocols. It allows anyone to add transactions, run a node, and participate in the development of the network.

What are 3 examples of permissionless blockchains?

Bitcoin, Ethereum, Ontology

Who are allowed to join a permissioned blockchain network?

Only those authorized by the central governing body can join.

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

  • Internal governance leverages the power of the network for the benefit of their own uses.
  • It keeps transactions securely and privately recorded.
  • 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.
  • Cost effective.
  • Compliant with rules and regulations.

#26

1. What benefits do blockchain provide in business-to-business collaborations?
It provides trust as key part of the technology so it eliminates the need to trust third party and transactions can be successfully performed. Once transaction is recorded on the system it is immutable.
2. What property of a blockchain does the name “Permissionless” refer to?
Public.
3. What are 3 examples of permissionless blockchains?
Bitcoin, Ethereum, EOS
4. Who are allowed to join a permissioned blockchain network?
Private entities allowed by permissioned blockchain network.
5. Why do you think permissioned blockchain networks are preferred by many companies?
Provide them more control, governance, consensus etc.


#27
  1. What benefits do blockchain provide in business-to-business collaborations?
    It provide trust and cut middle man
  2. What property of a blockchain does the name “Permissionless” refer to?
    We don’t need permission of a central authority, it’s decentralize
  3. What are 3 examples of permissionless blockchains?
    Bitcoin
    Ethereum
    Litcoin
  4. Who are allowed to join a permissioned blockchain network?
    Someone who get the authorization from the centralized entity
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Permissioned blockchain is cheapest to maintain.
    The scalability is more important easy to implement
    The privacy
    The variable governance
    The fact that you can manage the access of the information

#28
  1. What benefits do blockchain provide in business-to-business collaborations?
    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?
    Anyone can access the blockchain without a central entity controling the acess. It works in a trustless environment.

  3. What are 3 examples of permissionless blockchains?
    BTC
    ETH
    DOGE

  4. Who are allowed to join a permissioned blockchain network?
    Anyone that the central entity decides to let in.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because they have sensitive and private information about their customers that shouldnt be displayed to the whole public and only to certain entities. A permissioned blockchain is much faster since their are only a few player that are allowed to mine.


#29
  1. What benefits do blockchain provide in business-to-business collaborations?
  2. What property of a blockchain does the name “Permissionless” refer to?
  3. What are 3 examples of permissionless blockchains?
  4. Who are allowed to join a permissioned blockchain network?
  5. Why do you think permissioned blockchain networks are preferred by many companies?

Automatic trust, records not corruptible, lower cost and increase speed by eliminating middlemen.
Decentralization.
BTC, ETH, LTC
Only those approved by centralized authority.
To maintain complete control.


#30
    1. increased trust between parties, and instant access to relevant, authentic information
  1. 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.

  2. Cardano, Etherium, Bitcon

  3. it is decided between participants, not everybody

  4. not public, security,


#31
  • What benefits do blockchain provide in business-to-business collaborations?

Transparency, anti-corruption, accounting costs reduction.

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

Anyone can join. Nobody can be trusted since malicious users are free to join as well.

  • What are 3 examples of permissionless blockchains?

Bitcoin, Ethereum, EOS

  • Who are allowed to join a permissioned blockchain network?

Defined by the network creator or organizations managing the network.

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

To avoid leaking company secrets to the unwanted parties.
Better performance comparing to public networks with “proof of work” consensus algorithm.


#32
  1. What benefits do blockchains provide in business-to-business collaborations?
    Blockchains 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?
    Permissionless concerning Blockchains is allowing 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, Ethereum, Litecoin
  4. Who are allowed to join a permissioned blockchain network?
    Permissioned blockchains are run by specific members of consortiums or companies, and members need to opt-in for the creation of such a network. 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. Why do you think permissioned blockchain networks are preferred by many companies?
    Permissioned Blockchain Networks allow the central governing entity or consortium of entities to decide on all problems pertaining to how the network is created, its protocols and what users can do.