Why Decentralization is More Than Just a Gimmick
Most blockchains are decentralized by design. This means the nodes and stakeholders that operate and govern the platform are not concentrated as a single controlling power but instead distributed over numerous self-sovereign actors. This makes them extremely resilient to censorship while ensuring redundancy and resistance against majority attacks. But although decentralization is a central tenet […]
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Just recently, online retailer Overstock announced that they would be offering securities based on blockchain technology dubbed as cryptosecurities. This would feature benefits that traditional financial securities do not enjoy, such as safer and faster clearing and not incurring fees from middlemen or clearinghouses. While it has been acknowledged that the value of bitcoin probably lies in its use as a medium of exchange or facilitating transactions rather than its dollar equivalent, some industry experts that this cryptosecurity offering is nothing but a gimmick. Blockchain....
Since the earliest days of bitcoin, decentralization has been key to its value proposition. But it's also been its greatest obstacle. Whether it's the block size debate, or the ethereum classic debacle more broadly, decentralization in public blockchain networks presents significant hurdles to what can seem like straightforward objectives. After seven years of open-source study, decentralized governance remains a little explored and unsolved enigma. But solving it will likely mean going back to the beginning, asking what exactly we mean by 'decentralization'. Do we mean the distribution of....
Over the years, we have been teaching machines to simulate the real world behavior. We have developed numerous technologies that translate the real world into the digital one. However, there can be, and actually, there is a reverse logic. Solutions on how to make everyday life can be derived from technologies. We are trying to imagine the world through the lens of decentralization and distribution, where people interact, connect and share to achieve their full potential and bring the benefit for a community they are part of. Decentralization is not limited to Blockchain, This week....
"One thing is clear: this is a serious project now, and we need to start taking decentralization seriously," said Wladimir van der Laan.
Changpeng Zhao, founder and CEO of Binance, the biggest cryptocurrency exchange by volumes traded, pondered the importance of decentralization and the relation it has with security and freedom. Zhao stated that there are several aspects of decentralization and that this is part of a gradient scale, explaining the different ways in which even Bitcoin can be seen as centralized.
Binance CEO Changpeng Zhao on Decentralization and Its Degrees
A lot has been said about the benefits decentralization brings to cryptocurrency projects and how it differentiates some initiatives from....