You’re about to move funds into a new protocol. It looks promising, but before you click “connect wallet,” a few questions pop into your head: Can you trust it? Who controls the code? Can anyone shut it down?

These questions aren’t just technical, they reflect the core values that shape the entire crypto ecosystem. Whether you’re choosing between a CEX and a DEX, or deciding which protocol to stake your tokens with, you're constantly navigating trade-offs between permissioned vs permissionless, centralized vs decentralized, and open source vs closed source systems.

Understanding these differences isn’t optional; it’s essential! In this post, we break them down so you can make informed decisions, protect your assets, and stay aligned with what crypto was built for. 

Permissioned vs. Permissionless

In Web3, how a network is designed directly impacts who can participate, contribute, and build. The most fundamental distinction? Whether access is permissioned or permissionless.

Permissionless Networks

In a permissionless system, anyone—whether a user or developer—can access the network, contribute to its infrastructure, and innovate freely.

Open by Design

• No gatekeepers: Anyone can join, validate transactions, or provide services.
  
  
• Developers can instantly tap into robust financial infrastructure with high reliability.
  
  
• This openness fuels decentralization, censorship resistance, and continuous innovation.

Permissioned Networks

These systems limit access to a select group of authorized participants. Entry often requires identity verification or legal agreements.

Controlled Access

• Users must verify their identity via credentials or KYC procedures.
  
  
• Networks track participants and assign roles.
  
  
• Participation is governed by contracts, which can be revoked.
  
  
• The result? Higher barriers to entry and fewer opportunities for trustless automation.

Reality Check: Most Web3 protocols don’t sit squarely in one camp. Instead, they fall somewhere in between — blending permissionless ideals with some permissioned features to balance usability, compliance, and innovation.

Open vs. Closed Source

Open source powers over 90% of global cloud infrastructure, yet it often goes unnoticed. Let’s unpack what “open” really means — and why it matters. 

Open Source

Code is public, reusable, and improvable by anyone.

✅ Benefits:

• Transparent and auditable
  
  
• Fosters community-driven innovation
  
  
• Eliminates single points of failure

Examples: Linux, Ethereum, Maya Protocol

Closed Source

Code is private and tightly controlled by the creators.

✅ Benefits:

• Easier to monetize
  
  
• Controlled user experiences
  
  
• Protects intellectual property
  
  

The Catch: You have to trust what you can’t inspect.

Where Maya Protocol Falls on the Decentralization Spectrum

We believe in decentralization,  but we’re also realistic. Maya isn’t fully decentralized yet, and that’s by design. Full decentralization is a journey, and we are getting closer. 

Here’s where we stand today:

Centralized Exchanges (CEXs)

• Control: A single entity makes decisions and manages operations.
  
  
• Custody: Users deposit funds into the exchange’s control.
  
  
• Transparency: Limited. Trades and liquidity activity are hidden.
  
  
• Execution: Trades are matched off-chain, fast but opaque.
  
  
• Compliance: Requires identity verification (KYC).
  
  

Fully Decentralized Exchanges (DEXs)

• Control: Governed by smart contracts, not centralized entities.
  
  
• Custody: Users keep control—assets only leave the wallet during trades.
  
  
• Transparency: Every transaction is visible on-chain.
  
  
• Execution: Trades settle on-chain—secure and auditable.
  
  
• Compliance: No personal data is required to trade.

Maya Protocol Today

🛠 Infrastructure:

• Decentralized. Validators (nodes) process transactions and stake capital to secure external assets (like BTC or ETH).
  
  
• Anyone can permissionlessly join as a validator.

💧 Liquidity & Trading:

• Fully permissionless. Anyone can provide or withdraw liquidity, and anyone can swap.

🧠 Governance & Development:

• Semi-centralized. The core team still steers development, but long-term governance is shifting to the community and node operators.

🔐 Security & Upgrades:

• Mostly decentralized. All changes must be approved by the node network — a decentralized body.
  
  

We’re not fully decentralized yet — but we’re on the right path. Permissionless access to core infrastructure is already live. Governance and development decentralization are coming next.

Key Takeaway

Decentralization isn’t binary. It’s a spectrum, and Maya Protocol is steadily moving toward the permissionless, trustless end of it. Some centralization helps bootstrap growth and protect users. But our long-term vision is clear: full transparency, user sovereignty, and unstoppable code.

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