Permissioned Systems

Key Design Features

• Membership Limited to Authorized Nodes
• Transactions can also be Limited to Authorized Known Participants
• Data & Ledgers can be partitioned to keep amongst subgroups of nodes
• Consensus built on permissioned, private Protocols – globally or modular between transacting parties.
• Practical Byzantine Fault Tolerance
• Delegated Notary Nodes
• Diverse Protocols – from Protocols for Multi Party Consensus to Crash Fault Tolerant for 1 Party
• Uses cryptography and registration authorities to mask user data
• Facilitates Smart Contracts using Chaincode or other programming language
• No Native Currency – Possible, though, with Smart Contracts
• Code generally open source

Permissioned Private Blockchains vs. Traditional Databases

• Append-only Timestamped Logs vs. Create, Read, Update, and Delete (‘CRUD’)
• Cryptographic commitment schemes for data vs. Manual commitment

Public Blockchain

• Public write capability
• Peer to peer transactions
• No central intermediaries
• Token economics

Private blockchain

• Private write capability
• Finality of data in append only log
• Public verifiability

Traditional Databases

• Trusted party hosts data
• Trusted party can “CRUD”
• Client Server Architecture