Description: Permissioned blockchain is a type of distributed ledger technology that restricts access and participation to a specific group of authorized users. Unlike public blockchains, where anyone can join and participate, permissioned blockchains require participants to be verified and approved before they can interact with the network. This approach allows for greater control over who can access information and participate in network governance. Often, these blockchains utilize consensus mechanisms like ‘Proof of Stake’ (PoS), which allows validators to be selected to create new blocks and validate transactions based on the amount of cryptocurrency they hold and are willing to ‘stake’ as collateral. This feature not only enhances the efficiency and scalability of the network but also encourages active participation from authorized users. Permissioned blockchains are particularly relevant in various environments, including business and government, where privacy, security, and regulatory compliance are paramount. By allowing only certain participants to engage, these networks can provide a more controlled and trustworthy environment for data and transaction management, making them an attractive option for a wide range of real-world applications.
