Understanding Unpermissioned Ledgers
An unpermissioned ledger, also known as a permissionless or public ledger, is a type of ledger that is open and available to anyone. It allows users to submit messages for various processes and even participate in the authentication, verification, and consensus protocol for blockchain transactions.
Unlike permissioned ledgers, which restrict access to certain users, unpermissioned ledgers allow all users to create data, publish smart contracts, and run a node. This level of transparency enables anyone to access the data stored within the ledger. Furthermore, users are encouraged to run nodes to support the network.
However, unpermissioned ledgers do have a few drawbacks. They often exhibit slower performance and consume a significant amount of energy. Notable examples of unpermissioned ledgers include Bitcoin and Ethereum.
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