The Perils Of Centralized Platform And Why Bitcoin Decentralization Matters
As the Canadian Freedom Convoy demonstrated, the censorability of centralized financial platforms proves the need for Bitcoin decentralization.In resistance to Justin Trudeau’s Canadian vaccine mandate for truckers traveling through U.S. borders, thousands of Canadian truckers and their supporters took to the streets on January 22 in a protest dubbed the “Freedom Convoy,” lining up and gridlocking central roads in Ottawa.As the protests captured national attention, a GoFundMe fundraiser collected about $7.9 million before being shut down by the platform from political pressure due to the....
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It was a jarring reminder of the hidden costs of the easy-to-use, centralized systems that permeate the web, and just how taxing or debilitating they can be.
True decentralization will take time, U.S. presidential candidate Brock Pierce suggests, citing DeFi as a crucial stepping stone towards this end. U.S. presidential candidate Brock Pierce believes true decentralization, in its purest form, does not exist today, and is not practical in the near future. He told Celsius founder and CEO Alex Mashinsky in an hour-long #MOIP interview released earlier today that while DeFi, is headed towards decentralization, it shouldn’t attempt to be entirely decentralized right now.The crypto venture capitalist turned politician stated a hybrid approach....
Only with the right tech, tools, and infrastructure can we usher in the Web3-based decentralized future the world needs. Cherry Network was built to do just that. Here’s how. From Centralization to Decentralization via Blockchain The concepts of distributed ledger technology (DLT) and transparent, auditable transactions secured in a blockchain have been revolutionary for multiple reasons. First, they raised the bar in terms of what was possible in the provision of massively scaled online apps and services. Why should end users be restricted by the rules and limits of centralized apps and....
Unstoppable Finance argued that Solana’s validator count and Nakamoto coefficient are higher than other blockchains, making it more decentralized. Solana-based decentralized finance (DeFi) firm Unstoppable Finance has argued that Solana is more decentralized than people make it out to be. However, there’s another side that believes that the blockchain platform is actually more centralized.In a blog post, the DeFi firm lays out its arguments, citing the blockchain network’s active validator count, Nakamoto coefficient and support for validator hardware, which is often argued to be....
Decentralized private networks offer the benefits of VPNs, but with additional advantages that exclude a central point of control. The internet has undoubtedly revolutionized the way we live. It has changed how we work, access information, travel, communicate and interact with each other. Along with it comes a greater level of freedom that we enjoy because of democratizing and decentralizing information. By doing so, the internet has opened up to a greater debate, analysis and scrutiny by the general public on matters that impact them and the world. Thanks to the internet, the sphere of....