Permissionless
Open to anyone to use or participate without needing approval from a central authority.
Permissionless systems allow anyone to join, transact, or validate without whitelists. In Bitcoin Cash and similar networks, anyone can run a node, create a wallet, or mine.
"No account or KYC is required to receive BCH; generating a key pair is enough."
Openness improves resilience and innovation but complicates compliance and can attract spam or abuse, mitigated by fees and economic incentives.
"Transaction fees discourage spam while remaining low enough for regular payments on BCH."
Related Terms
Node
→A device that participates in a blockchain network, with roles varying from transaction validation to block creation.
Miner
→A miner is a participant who provides computational work to find blocks and secure proof-of-work blockchains.
Decentralization
→The distribution of power and control across many participants, reducing single points of failure or authority.
All terms and definitions may update as the Cryptionary improves.
