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DOMAINS TOKEN-G

Rachel Welch

03 October 2022 116 Read Crypto

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Advantages and Disadvantages of the Unpermissioned Ledger

The Unpermissioned Ledger is a blockchain structure that allows anyone to perform transactions without the need for any sort of permission. Its use is especially helpful in combating cryptocurrency scams. Furthermore, it allows financial institutions to perform KYC compliance checks on their customers, which prevents the possibility of money laundering.

In a permissioned ledger, new records are checked against the ledger by a limited consensus process conducted by trusted actors. This process ensures the ledger's integrity. Moreover, permissioned ledgers are faster than unpermissioned ones. This is because participants maintain the integrity of the ledger by reaching a consensus.

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