What are the key features of permissioned cryptocurrencies and how do they differ from public cryptocurrencies?

6 answers

• pankaj guptaOct 07, 2021 · 4 years ago
  Permissioned cryptocurrencies, also known as private cryptocurrencies, are digital currencies that operate on a blockchain network with restricted access. Unlike public cryptocurrencies, which are open to anyone, permissioned cryptocurrencies require users to obtain permission or be granted access by a central authority or governing body. This centralized control allows for greater regulation and oversight, making permissioned cryptocurrencies more suitable for use in regulated industries such as finance and healthcare. Public cryptocurrencies, on the other hand, are decentralized and open to anyone, allowing for peer-to-peer transactions without the need for intermediaries. This decentralization provides greater transparency and security, but also makes public cryptocurrencies more susceptible to illegal activities.
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• GhadiNov 24, 2020 · 5 years ago
  Permissioned cryptocurrencies have several key features that differentiate them from public cryptocurrencies. Firstly, permissioned cryptocurrencies require users to obtain permission or be granted access by a central authority or governing body. This centralized control allows for greater regulation and oversight, making permissioned cryptocurrencies more suitable for use in regulated industries such as finance and healthcare. Secondly, permissioned cryptocurrencies often have faster transaction times and lower fees compared to public cryptocurrencies, as they do not rely on a decentralized network of miners to validate transactions. Lastly, permissioned cryptocurrencies can offer greater privacy and confidentiality, as access to the blockchain network is restricted to authorized participants.
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• Trevino KoenigJul 18, 2021 · 4 years ago
  BYDFi, a leading digital currency exchange, offers a permissioned cryptocurrency called BYD Coin. BYD Coin operates on a private blockchain network and requires users to obtain permission or be granted access by BYDFi. This centralized control allows for greater regulation and oversight, making BYD Coin more suitable for use in regulated industries such as finance and healthcare. Unlike public cryptocurrencies, BYD Coin offers faster transaction times and lower fees, as it does not rely on a decentralized network of miners to validate transactions. Additionally, BYD Coin provides greater privacy and confidentiality, as access to the blockchain network is restricted to authorized participants.
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• pankaj guptaOct 06, 2022 · 3 years ago
  Permissioned cryptocurrencies, also known as private cryptocurrencies, are digital currencies that operate on a blockchain network with restricted access. Unlike public cryptocurrencies, which are open to anyone, permissioned cryptocurrencies require users to obtain permission or be granted access by a central authority or governing body. This centralized control allows for greater regulation and oversight, making permissioned cryptocurrencies more suitable for use in regulated industries such as finance and healthcare. Public cryptocurrencies, on the other hand, are decentralized and open to anyone, allowing for peer-to-peer transactions without the need for intermediaries. This decentralization provides greater transparency and security, but also makes public cryptocurrencies more susceptible to illegal activities.
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• GhadiAug 08, 2024 · a year ago
  Permissioned cryptocurrencies have several key features that differentiate them from public cryptocurrencies. Firstly, permissioned cryptocurrencies require users to obtain permission or be granted access by a central authority or governing body. This centralized control allows for greater regulation and oversight, making permissioned cryptocurrencies more suitable for use in regulated industries such as finance and healthcare. Secondly, permissioned cryptocurrencies often have faster transaction times and lower fees compared to public cryptocurrencies, as they do not rely on a decentralized network of miners to validate transactions. Lastly, permissioned cryptocurrencies can offer greater privacy and confidentiality, as access to the blockchain network is restricted to authorized participants.
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• pankaj guptaOct 03, 2022 · 3 years ago
  Permissioned cryptocurrencies, also known as private cryptocurrencies, are digital currencies that operate on a blockchain network with restricted access. Unlike public cryptocurrencies, which are open to anyone, permissioned cryptocurrencies require users to obtain permission or be granted access by a central authority or governing body. This centralized control allows for greater regulation and oversight, making permissioned cryptocurrencies more suitable for use in regulated industries such as finance and healthcare. Public cryptocurrencies, on the other hand, are decentralized and open to anyone, allowing for peer-to-peer transactions without the need for intermediaries. This decentralization provides greater transparency and security, but also makes public cryptocurrencies more susceptible to illegal activities.
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