In a recent blog post, which you can access here, GreySpark takes a look at the nuances of cryptoasset trading and how the trade life cycle process differs between fiat assets and cryptoassets.
As the model above suggests, there are two types of blockchain protocol that underpin cryptoassets. In permissionless models, also known as public blockchains, there are no restrictions on network participation by an administrator and it is entirely open source. Permissionless projects include Bitcoin and Ethereum.
Contrastingly, permissioned blockchains are a type of distributed ledger that require access to permission, and is not open to the public. In other words, in trading on this type of infrastructure, data is only shared with the parties involved in the transaction, and it isn’t visible on a public blockchain. Typically, permissioned blockchains are found in the decentralised finance (De-Fi) world. Examples of permissioned blockchain networks include Quorum and Corda.