What is Permissionless?
Cryptocurrency transactions that take place on the blockchain and rely on its integrity are referred to as “on-chain transactions”. Only when the blockchain has been updated to reflect the transactions on the public ledger are on-chain transactions deemed to be genuine. Since on-chain transactions cannot be changed once they have been authenticated and logged on the network, they provide security and transparency. On-chain transactions do have certain disadvantages, such as increased fees and lengthy processing times.