What:
- Proof of Stake and Proof of Work are both permissionless. Anyone can join.
- Permissioned Ledgers (“Corporate” way) are systems where you must be on an approved list to participate. Lends itself to Certificate Authority from Cryptography.
- The system puts the onus of trust on the CA. Thus, not trustless.
Types:
- Centralised (Proof Of Authority): You trust a single entity (e.g. bank, university)
- Distributed: