What distinguishes permissioned blockchains from permissionless blockchains in terms of participation?1 pointA) Permissioned blockchains require permission from a central authority to join, while permissionless blockchains allow anyone to participate without authorization.B) Permissioned blockchains are open to public participation, while permissionless blockchains are restricted to specific entities.C) Permissioned blockchains are typically faster due to fewer participants, while permissionless blockchains are slower due to higher competition among miners.D) Permissioned blockchains have stricter security measures, while permissionless blockchains rely on community consensus for security.
Question
What distinguishes permissioned blockchains from permissionless blockchains in terms of participation?1 pointA) Permissioned blockchains require permission from a central authority to join, while permissionless blockchains allow anyone to participate without authorization.B) Permissioned blockchains are open to public participation, while permissionless blockchains are restricted to specific entities.C) Permissioned blockchains are typically faster due to fewer participants, while permissionless blockchains are slower due to higher competition among miners.D) Permissioned blockchains have stricter security measures, while permissionless blockchains rely on community consensus for security.
Solution
The main difference between permissioned and permissionless blockchains in terms of participation is that permissioned blockchains require permission from a central authority to join, while permissionless blockchains allow anyone to participate without authorization. This is option A in your question.
In permissioned blockchains, the network is closed and only accessible to approved participants. The control over who can participate in the network, execute a consensus protocol, and maintain the shared ledger is in the hands of a central authority.
On the other hand, permissionless blockchains are open and accessible to anyone. Anyone can join the network, participate in the process of block verification to create new blocks, and see and submit transactions. They are decentralized and do not require a central authority to control participation.
Options B, C, and D in your question are not entirely correct. Permissionless blockchains are not restricted to specific entities but are open to all. While it's true that permissioned blockchains can be faster due to fewer participants, this is not their defining characteristic. Lastly, both types of blockchains have their own security measures, it's not accurate to say that permissioned blockchains are necessarily stricter.
Similar Questions
What is a permissionless Blockchain?AA cloud infrastructure where users can share dataBA peer-to-peer network without any central authorityCA centralized ledger that allows to make secured transactionsDA mutual consensus protocol to track transactions
3. In a permissioned blockchain network, who typically has the authority to participate in the consensus process?1 pointA) Anyone who wishes to joinB) Only individuals with specialized hardwareC) Pre-approved entities or participantsD) Only government agencies
3. In a permissioned blockchain network, who typically has the authority to participate in the consensus process?1 pointA) Anyone who wishes to joinB) Only individuals with specialized hardwareC) Pre-approved entities or participantsD) Only government agenciesClear selection
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JPMorgan is considering using blockchain for its settlement system for trading among its own client base. Which of the following is most appropriate?AIt is more likely to use permissionless DLTsBIt is more likely to use permissioned DLTsCIt is equally likely to use permissionless and permissioned DLTsDIt is not likely to use DLTs
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