FOUNDATIONAL TECHNOLOGY

Permissionless Blockchain

An open blockchain network—such as Ethereum or Solana—where any participant can transact or validate without approval. These networks underpin most DeFi activity and public tokenization platforms.

EXAMPLE

BlackRock chose to launch its BUIDL tokenized fund on the permissionless Ethereum network to maximize accessibility and composability with DeFi protocols.

Relevant Roles and Functions

On-chain Role
Chief Blockchain Infrastructure Officer
Head of Blockchain Infrastructure
Function
Blockchain Network Integrations
Node Operations
Smart Contract Infrastructure
Validator Participation
TradFi Equivalent
Core Banking Architecture
Distributed Systems
Payments Infrastructure
Technology

Related Terms

Permissioned Blockchain

A blockchain network where participation—reading, writing, or validating—is restricted to pre-approved entities. Permissioned chains offer privacy and regulatory control suited to institutional and consortium use cases.

Example

JPM Coin operates on a permissioned blockchain, ensuring only verified institutional counterparties can initiate or receive transfers.

Blockchain

A distributed, immutable ledger that records transactions across a network of computers in cryptographically linked blocks, providing a shared and tamper-resistant source of truth across multiple parties.

Example

By settling trades on blockchain, two counterparties share an identical, real-time record without requiring a central reconciliation agent.

Interoperability

The ability of different blockchain networks, protocols, and traditional financial systems to exchange data and value seamlessly. Institutional adoption depends on cross-chain interoperability solutions that connect permissioned and public blockchains.

Example

Chainlink's Cross-Chain Interoperability Protocol enables banks to move tokenized deposits between different blockchain networks while maintaining a single source of truth for regulatory reporting.