How Does a Permissioned Blockchain Model Differ from the Decentralization of Bitcoin?
A permissioned model is centrally controlled, restricting who can participate and validate transactions, prioritizing efficiency and privacy. Bitcoin's blockchain is public and permissionless, allowing anyone to join and validate, which achieves maximum decentralization and censorship resistance.
The former trades true decentralization for controlled access and speed, while the latter is trustless.
Glossar
Permissioned Blockchain Model
Framework ⎊ A Permissioned Blockchain Model restricts participation in the network, often requiring identity verification for all nodes that validate transactions or maintain a copy of the ledger state.
True Decentralization
Control ⎊ True decentralization in a derivatives protocol signifies the absence of a central authority capable of unilaterally altering core parameters, freezing funds, or censoring transactions.
Maximum Decentralization
Resilience ⎊ Maximum Decentralization represents the architectural ideal where the control and operation of a blockchain network are distributed across the largest possible number of independent, geographically dispersed nodes, minimizing the impact of any single point of failure.