A permissioned network is a blockchain or distributed ledger system where participants must obtain authorization to join and transact. Unlike public, permissionless blockchains, access to a permissioned network is controlled by a central authority or a consortium of entities. This structure allows for greater control over who can participate, often prioritizing privacy, regulatory compliance, and transaction speed. It is commonly utilized in enterprise solutions where identity verification and data governance are critical.
Context
Permissioned networks are frequently discussed in news concerning institutional adoption of blockchain technology, particularly in traditional finance and supply chain management. Debates often weigh their benefits of control and efficiency against the core blockchain principles of decentralization and open access. Their continued development highlights a distinct approach to leveraging distributed ledger technology for specific business requirements.
Deploying a permissioned Ethereum Layer-2 enables SWIFT to establish a 24/7, low-latency cross-border payment rail, fundamentally optimizing interbank liquidity and settlement.
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