Discussion Paper
Governance of Permissionless Blockchain Networks
Abstract: A permissionless blockchain network is a system of physically distributed computers running a copy of a shared ledger and using the same software rules that enable all network participants to “read, submit, and validate transactions” (Beck, Müller-Bloch, and King, 2018, p. 1022). A permissionless system’s accessibility stands in contrast to that of permissioned systems, in which a central authority pre-selects validators and potentially restricts viewing and submission rights (Krause, Natarajan, and Gradstein, 2017; Beck, Müller-Bloch, and King, 2018).
https://doi.org/10.17016/2380-7172.3443
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Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2024-02-09
Number: 2024-02-09