Decentralization News

What is decentralization? A decentralization definition is that it is the process of distributing and dispersing power away from a central point. Most financial and governmental systems in the traditional mainstream world are centralized, meaning they are controlled and managed by a single authority. 

There are several crucial disadvantages to this approach, stemming from the fact that any central authority also plays the role of a single point of failure in the system: Any malfunction at the top of the hierarchy, whether unintentional or deliberate, inevitably has a negative effect on the entire system. 

Centralization can also be present on a technical level. Hacking one of a centralized entity’s main points of failure, such as a database, could affect the entire entity and its network. 

Decentralization spreads power and information across multiple points. Decentralization advantages can include greater security and diversified control.

Bitcoin was designed as a decentralized alternative to government money and, therefore, doesn't have any single point of failure, making it more resilient, efficient and democratic. Its underlying blockchain technology allows for this decentralization, offering every user an opportunity to become one of the network's many payment processors. As a whole, the crypto industry values decentralization, with projects building on various blockchains and distributed ledger technologies, or DLT

Sponsored
A blockchain specializing in NFTs says a number of high-profile releases have helped daily active wallet numbers surpass the likes of Ethereum and Flow.
‘King of NFTs’ is dominating the crypto rankings — here's why
Connor Sephton
2021-05-13T15:10:00+01:00
802
News
In contrast with traditional domains stored on behalf of users by custodians like Google Domains, .crypto domains are stored in crypto wallets.
Unstoppable Domains’ .crypto websites now available via Brave browser
Helen Partz
2021-05-13T14:00:00+01:00
4351
Altcoin Watch
The difference in ICP rates across multiple crypto exchanges was as high as $2,500 at one point.
How did Internet Computer (ICP) become a top-10 cryptocurrency overnight?
Yashu Gola
2021-05-12T11:42:16+01:00
40089
Sponsored
A cross-chain aggregation protocol enables multi-chain assets to be freely exchanged, and different blockchains to be accessed with ease.
Cross-chain protocol brings together liquidity sources from multiple networks
Connor Sephton
2021-05-11T11:37:56+01:00
3921
Opinion
The GameStop saga may indicate a paradigm shift in the financial system or even the creation of an entirely new one.
GameStop saga paves the way for a new decentralized financial order
Elvina Kamalova
2021-05-09T08:17:00+01:00
42667
Expert Take
Email built on top of a blockchain platform might provide more communications security than centralized alternatives.
Blockchain tech has a solution to secure your email
Guest Authors
2021-05-08T08:17:00+01:00
9110
Sponsored
A decentralized network has launched its private testnet as it aims to dramatically reduce waste when it comes to how the world’s computing resources are used.
Watch out Amazon Web Services: Decentralized rival launches testnet
Connor Sephton
2021-05-07T13:25:00+01:00
23582
Sponsored
A decentralized blockchain is celebrating its first anniversary with a series of engaging contests — and anyone can get involved.
Blockchain celebrates first anniversary with series of engaging contests
Connor Sephton
2021-05-06T12:53:00+01:00
5452

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