Permissionless networks

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A type of Blockchain network where all network participants, not just the regulators, can view all transactions. These networks have no central authority, which gives them the advantage of having no single point of failure. The ledger becomes a permanent record visible to all, and its history cannot be altered. This removes the need for trust between the parties to a transaction.

Most cryptocurrencies, notably Bitcoin, are based on permissionless networks.

Compare: Permissioned networks

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