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

News
Gavin Wood said that he seeks to transform the Polkadot blockchain into a full technocracy.
Polkadot's founder announces steps toward full decentralization with new governance model
Zhiyuan Sun
2022-06-29T17:21:10+01:00
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Video
CoinShares CSO Meltem Demirors finds crypto infrastructure and developer tools more interesting than Web3 and the money aspect of crypto during the current bear...
It’s time to refocus on crypto infrastructure, CoinShares CSO says
Helen Partz
2022-06-29T17:05:00+01:00
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News
A user must hold between 0.1% and 1% of the outstanding token supply to create a proposal and hold between 1% and 4% to pass it.
Less than 1% of all holders have 90% of the voting power in DAOs: Report
Prashant Jha
2022-06-27T12:30:00+01:00
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News
Once the bridge reopens on Tuesday, users will be able to withdraw one ETH for each one they possessed before the attack.
Axie Infinity to compensate Ronin exploit victims and relaunch bridge
Arnold Kirimi
2022-06-24T18:00:00+01:00
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News
Binance CEO Changpeng Zao has argued that crypto firms that have been poorly managed, poorly operated, or have released poorly designed products should be left ...
‘Bad’ crypto projects should not be bailed out says Binance founder CZ
Brian Quarmby
2022-06-24T02:50:11+01:00
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News
The report published Tuesday highlights several scenarios in which various actors can garner excessive, centralized control of a blockchain system.
Blockchain isn’t as decentralized as you think: Defense agency report
Sean Moore
2022-06-22T05:09:16+01:00
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News
Redditors discussed use cases that can drive up Ether’s value, from universal trustless authentication to decentralized autonomous organizations.
What Ethereum use case can make ETH a $500B market-cap asset? Community answers
Ezra Reguerra
2022-06-20T12:32:48+01:00
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Explained
A DAO-based financial industry means lower fees across the board, accessibility, and transparency. Would it be possible?
How a DAO for a bank or financial institution will look like
Marcel Deer
2022-06-19T14:56:00+01:00

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