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Tag: decentralization

Why Web3 Matters

Web1 (roughly 1990-2005) was about open protocols that were decentralized and community-governed. Most of the value accrued to the edges of the network — users and builders.
Web2 (roughly 2005-2020) was about siloed, centralized services run by corporations. Most of the value accrued to a handful of companies like Google, Apple, Amazon, and Facebook.
We are now at the beginning of the web3 era, which combines the decentralized, community-governed ethos of web1 with the advanced, modern…… Read more...

Altcoins With the Most Lucrative Potential in 2021

In early 2021, the price for altcoins was spectacular but the bulls are not evergreen. Altcoins are accounted for more than 40% of the total cryptocurrency market, with over 10,000 cryptocurrencies and counting. The explosion of decentralized finance and smart contracts give rise to some of the altcoins’ value. The highest altcoins by market cap remain to be Ether, Tether, Binance Coin, and even Dogecoin. The total market capitalization of altcoins, excluding Bitcoin, is at a all-time high, according to CoinMarketCap.

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@bybitBybit

Bybit is one of the fastest growing cryptocurrency derivatives exchanges, with more than a million registered users.

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The 3 Layer Model

0 DESIGN GOALS
The properties you would like yuor system to have: distributed, decentralized, immutable, etc.

1 IMPLEMENTATION
You choose to implement those properties in a certain way to create an implementation.
– Open: BTC and ETH are BC implementations,
– Permissioned: Hyperledger Fabric, etc.

2 INSTANCES
Once you have decided on your properties and decided on a protocol to implement those properties then you create as many instances for your implementation as you want: different networks to create different ledgers or version of reality.… Read more...

Bitcoin needs no entities to acknowledge it, incorporate it, regulate it, or and tax it

By 1999 Friedman predicted Bitcoin stating that internet would reduce government power and introduced the idea of digital cash, in order to reduce the power of a third party in transactions. Decentralization is a big headache for good and bad governments.

Bitcoin is inherently anti-establishment, anti-system, and anti-state. Bitcoin undermines governments and disrupts institutions because bitcoin is fundamentally humanitarian. There’s an elimination of 3rd party intrusion. It’s purely peer-to-peer.

The blockchain is free speech. It’s decentralized, voluntary, and non-aggressive. Bitcoin is not supposed to work within our current mechanisms. Bitcoin needs no entities of authority to acknowledge it, incorporate it, regulate it, and tax it.… Read more...

Centralization vs Decentralization

Centralization (server based) vs decentralization vs distribution (p2p). From more power and consistency vs less power and freedom. No one controls the network. Objective is to eliminate the third parties. 

In a globalized world the centralized supervision becomes more and more risky, and this affects both governments and big companies. 

Attacks in single nodes could make the whole system to fall. Decentralized networks have disadvantages vs distributed. They still can be corrupted by single nodes.

The key is the ZERO TRUST approach. Trust is no needed since there’s no one to trust. Read more...

New World, Old Rules

The ‘Crypto World’ as it is now is a new world with OLD rules (KYC policies, centralized marketplaces, etc.). All major players have just forgotten what was this all about (a tool to gain freedom), and the result is this: ‘assets’ instead of money, and rampant speculation.

As it has been recently refered at Cointelepgraph:

ICOs themselves are hardly centralized. They may take place in a decentralized platform byt they inherently involve many people trusting a single development team with potentially 00s millions in funding.

We need a new world with NEW rules. Rules emerging from that new world. Otherwise, this is all a huge waste of time for most, and business as usual for the few.… Read more...

Decentralization mania. Not everything needs to be decentralized TRUSTLESS and censorship resistant. Decentralized government is another way to bring decision by committee, which uses to be slow, arduous and compromised. We do need strong leaders and visionaries. … Read more...

...what is often neglected is the possibility of authoritarian regimes flipping the switch by using blockchain technology to create systems and applications that limit individual liberties for their citizenry.

The Uncomfortable Truth About Blockchain Tech

OLD UT RELEVANT STUFF ---> Blockchain technology has spawned a new decentralized economy, effectively taking power away from centralized authorities and handing it back to the people. Many block...

Money is Broken… How to Fix it?

This are the things about money that should be fixed both in the “real” and the crypto economy:

Nature of Money. Money should be a mean of exchange and settling acounts NOT a merchandise whose price is controlled by an elite. Right now even Bitcoin prices are manipulared. Money is a mean of settlement to help an economy to be liquid. It should not be a merchandise whose price and manufacturing is controlled by an elite with some kind of Old World capitalist advantage (sorry Bitcoin miners, its nothing personal).

Money should be an asset in itself, not somebody´s liability.

Native value.… Read more...

Hacks and Leaks will Keep Pouring In

When is people going to understand that ANY centralized database is hackable and leakable. No matter how many security or layers of protection you built upon it; it’s always vulnerable.

The only way to really secure personal data is decentralized databases, and full identity sovereignty. Are govs, corps and leftist citizens going to allow this to happen? NO because we are just consumers and/or potential criminals for them.

Snowden revealed confidential data from his time in the FBI and CIA. He revealed how govs spy in us and keep track of our data. Not just browsing data, but also internet-connected devices being constantly assessed and monitored: cameras installed in phones, laptops, or any other internet-connected device.… Read more...

Who Needs a Hackable World?

Govs and corps wont ever allow decentralized apps because they are the ‘institutional hackers’. They need a hackable world to spy and control people.

Data breaches are just collateral damage in a special war. This war is about controlling each and every aspect of your life. Its about controlling your will (govs, police, etc.) and controlling your money (govs again, banks, corps, thieves, etc.).

Decentralization is elusive and has proven to work at global scale only for Bitcoin. Not bad. But not enough to change things.

Equally interesting are other already working non-blockchain P2P projects enabling a non-censurable web. An append-only web that makes content publication traceable and secure like pushes in a version controlled repository, but irreversible with no delete/force-push, hehe.… Read more...

What is a DAO?

A decentralized autonomous organization (DAO), sometimes labeled a decentralized autonomous corporation (DAC), is an organization that is run through rules encoded as computer programs called “smart contracts”, and whose financial transaction record and program rules are maintained on a blockchain database.

Its goals is to code the rules and decision making apparatus of an organisation, eliminating the need of documents and people for its management, and creating a decentralized, controled structure.

DAOs are basically  abstractions used to collaborate, and mechanisms that align economical incentives in the internet through software. DAOs allow humans to collaborate on a large escale for a common objective, and conciliate incentives among individuals that don’t know each other, and without the need for a third trust party.… Read more...