This is a set of technologies that enables a secure, decentralized, synchronized, and distributed record of digital transactions without the need for third-party intervention, such as banks.

A permissionless blockchain is an open-source ledger of digital transactions that can be programmed to record financial transactions and any data with value through smart contracts. It is open to the public, and each of the data blocks is protected and linked together. Thus, the transaction is verified not by a third party, but by a specific or random node that belongs to a network of nodes (computers connected to the network) under a consensus system that can be Proof of Work, Proof of Stake, or some other consensus algorithm.