Permission Protocol

Understand the essential crypto terminology related to Permission Protocol, including key concepts like access control, consensus mechanisms, and token standards.

A Permission Protocol refers to a set of rules governing access and interactions within a blockchain network. It determines who can participate in the network, what actions they can perform, and under what conditions.In many cases, permission protocols are used in private or consortium blockchains. These networks require specific approvals for users to access certain functionalities. This contrasts with public blockchains, where anyone can join and interact freely.Permission protocols help enhance security and control. By limiting access to authorized participants, they can mitigate potential risks such as fraud or unauthorized changes. These protocols often involve identity verification and role assignments, ensuring that users act within their designated capabilities.Examples of permission protocols include Hyperledger Fabric and R3 Corda, both of which focus on creating secure environments for enterprise applications. They offer flexibility and scalability while maintaining a trusted framework for collaboration among different entities.

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