Entity: PERMISSIONLESS
Permissionless refers to a system, often related to blockchains, where no centralized authority dictates who can use it or how it is used. It allows anyone to participate, build, or transact without needing approval from a central entity.
Permissionless
Etymology
The term 'permissionless' is derived from the concept of not requiring authorization or permission.
Definition
Permissionless refers to a system, often related to blockchains, where no centralized authority can regulate who can use it or how it can be used. It allows anyone to participate, build, or transact without needing approval from a central entity.
Historical Context
The idea of permissionless systems gained prominence with the rise of public blockchains like Bitcoin, which operate without the need for a central authority to control transactions.
Cultural Significance
Permissionless systems are seen as a foundational principle behind open systems like the internet, Bitcoin, and Web3. They promote decentralization and democratization of access to technology.
Related Concepts
- Permissioned blockchain: A blockchain that requires authorization to participate in validating and mining transactions.
See Also
A system, typically related to blockchains, in which no centralized authority can regulate who can use it or how it can be used.