Permissioned and permissionless blockchains differ in terms of who can participate in the network and validate transactions.
In a permissioned blockchain, participants are known and vetted entities who have specific roles and permissions within the network. These participants are required to have credentials to access and interact with the blockchain. This type of blockchain is often used in enterprise settings where privacy and control are important.
On the other hand, a permissionless blockchain, like the one used in Bitcoin and Ethereum, allows anyone to join the network, participate in the consensus process, and validate transactions without needing approval. This type of blockchain is decentralized and open to anyone, providing transparency and censorship resistance.
In summary, the main difference is that permissioned blockchains have restricted access and are controlled by a select group of participants, while permissionless blockchains are open and decentralized, allowing anyone to participate in the network.
