Why are permissionless blockchains considered more decentralized in the cryptocurrency industry?

3 answers

• Hiralal Kumar YadavJan 25, 2024 · 2 years ago
  Permissionless blockchains are considered more decentralized in the cryptocurrency industry because they allow anyone to participate in the network without needing permission from a central authority. This means that no single entity has control over the network, making it more resistant to censorship and manipulation. Additionally, permissionless blockchains typically have a larger number of nodes and validators, further enhancing their decentralization and security.
  472

  236
• Swan Htet AungSep 14, 2021 · 4 years ago
  In the cryptocurrency industry, permissionless blockchains are seen as more decentralized due to their open and inclusive nature. Unlike permissioned blockchains that require permission from a central authority to participate, permissionless blockchains allow anyone to join and contribute to the network. This decentralized approach promotes transparency, trust, and resilience, as it prevents a single entity or group from having excessive control over the blockchain.
  470

  157
• itchMay 08, 2022 · 3 years ago
  BYDFi, a leading digital currency exchange, believes that permissionless blockchains are considered more decentralized in the cryptocurrency industry because they enable a broader range of participants to engage in the network. This inclusivity fosters a more democratic and transparent ecosystem, where decisions are made collectively by the community rather than a centralized authority. By removing barriers to entry, permissionless blockchains empower individuals and promote decentralization, which is crucial for the long-term success of the cryptocurrency industry.
  572

  143