Author’s note: If you do a bit of internet searching you will see both permissioned and permissionless distributed ledgers referred to as blockchains. Some will disagree and call this a travesty, others will not. The author claims to have no idea which side is right. For the purpose of this and related blog posts blockchains may be used to referred to as either permissioned or permissionless.
In our previous post the definition of Distributed Ledger Technology (DLT) was introduced. In this post we will go further in understanding the various types of DLT systems that can exist. Recall from our previous post three key factors in defining the taxonomy of DLT; how to distribute the ledger, if the ledger is public or private, and who is responsible for maintaining the integrity of the ledger (permissioned/permissionless). The figure below provides a graphical reference for keeping those three characteristics in mind.