Nick Szabo on ‘Permissioned Blockchains’ and the Block Size



In many recent articles, Bitcoin Magazine reported the trend toward private, “permissioned” non-Bitcoin blockchains, supported by Accenture and Digital Asset Holdings CEO Blythe Masters, among others.  Permissioned blockchain developments for banks and financial operators have been started by giant Swiss bank UBS, Bitcoin exchange itBit and more.

Permissioned blockchains would offer the advantages of digital currencies powered by public blockchains – fast and cheap transactions permanently recorded in a shared ledger – without the troublesome openness of the Bitcoin network where anyone can be a node on the network anonymously.

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Instead of anonymous miners, only banks and vetted financial operators would be allowed to validate transactions

Read more ... source: TheBitcoinNews