Blockchains can be permissioned or permissionless, depending on the level of control required from "summary" of Blockchain Technology Explained by Alan T. Norman
In the world of blockchain technology, one important concept to understand is whether a blockchain is permissioned or permissionless. This classification is based on the level of control that is required or desired over who can participate in the network and validate transactions. In a permissioned blockchain, the participants must be invited to join the network and are required to gain approval from a central authority or group of authorities. This centralized control allows for a more regulated environment where only known and trusted parties are able to participate. This type of blockchain is often used in enterprise settings where privacy, security, and compliance are top priorities. On the other hand, a permissionless blockchain operates in a decent...Similar Posts
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