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

Opinion
Goodbye Spotify, music nonfungible tokens have arrived: Reimagining the music streaming model in the Web 3.0 era.
Online content streaming is dead. Long live the music NFTs
Joan Westenberg
2021-11-27T18:00:00+00:00
13618
Opinion
Nonfungible tokens could be a step toward new social interactions, a notion that might not be as far-fetched as it sounds.
NFTs as micro-social networks: The path to crypto adoption
Nick Casares
2021-11-27T13:54:00+00:00
4671
News
1 million Ether has been burned since the London hard fork, Square released a beta white paper for a decentralized exchange and Grayscale predicted a $1-trillio...
Finance Redefined: 1M ETH burned since EIP-155 and Dorsey drops tbDEX white paper, Nov. 19–26
Tom Farren
2021-11-27T11:30:00+00:00
9533
News
The Lithuanian service will launch its utility token to support Web 3.0 governance on the platform, though its expected launch date is undisclosed.
DappRadar pivots business model to DApp store with native token
Tom Farren
2021-11-26T17:30:00+00:00
3543
Altcoin Watch
Meanwhile, the trading volumes across the crypto’s main instruments dropped by nearly 100% in the same period.
ConstitutionDAO: PEOPLE price pumps 200% as new ‘We The People’ token unveiled
Yashu Gola
2021-11-25T13:40:36+00:00
22389
News
According to a new report from Grayscale, the rate of active metaverse users increased 10x between the start of 2020 and June 2021.
The Metaverse is a $1T opportunity after users increase 10x: Grayscale report
Brian Quarmby
2021-11-25T05:44:47+00:00
39449
News
The move seeks to enable the development of complex decentralized applications.
Ontology and bloXmove to bring decentralized identity to urban transport apps
Zhiyuan Sun
2021-11-23T14:00:00+00:00
2309
News
The Liberal Party Senator commented that DeFi “presents huge opportunities” for Australia to cement its place as a “front-runner for innovation.”
Australian Senator says DeFi is 'not going away any time soon'
Keira Wright
2021-11-22T02:46:49+00:00
5593

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