Permissioned and Permissionless Blockchain: What are the differences and how does it work? | by In the bitcoin world | Coinmonks | Jun, 2023

The two major applications of blockchain technology, permissioned and permissionless, each have unique properties. Here is a summary of the variations and how they operate:

Licensed Blockchain:

1. An exclusive group of users is only permitted to participate in the network and validate transactions in a permissioned blockchain. These members must request approval from a central authority or consortium in order to join the network, and they are often…