cool hit counter Blockchain can be decentralized or enhanced_Intefrankly

Blockchain can be decentralized or enhanced


For ease of narrative later, I will refer to decentralization management as DM (Decentralization Management) for short

Let's get right to the topic.

A lot of people are now making a big deal about the decentralization of the blockchain, which has led many people to presuppose that decentralization is a self-contained property of the blockchain. I also believe it is very possible to be misled by this chart.

In a sense, the nodes in a blockchain connect to each other to form a network, but what is really called [a blockchain] is a one-way, linear chain of all the blocks containing transaction information that are connected, and more intuitively.

There is transaction information in every block, and who exactly is packing the blocks determines whether the blockchain is decentralized or enhanced centralized.

Bitcoin's PoW mechanism, or proof of work mechanism, relies on arithmetic power to randomly match the hash of a block, and whoever succeeds in matching first has the right to pack the block and also receives bitcoins as a reward, and the more arithmetic power there is, the more difficult it will be to pack the block and the higher arithmetic power will be required, making it increasingly expensive to disrupt the Bitcoin network.

This is an example of decentralization, using proof of work to create a digital cryptocurrency that doesn't have to be backed by the government.

Now, let's think of it differently, what if it was a government of some country or an institution or even an individual that packaged the block?

With the strong power at play, it is not too difficult to pack the blocks and also make them traceable and untamperable at the same time. For example, the state's intention to use blockchain to solve tax problems, as mentioned in previous news, so that tax evasion violations can no longer countless hide.

This is, of course, under the assumption that there is a guarantee that it will not be breached.

We can clearly see that the blockchain becomes a means of strengthening centralization when some centralized body has a direct monopoly on packing blocks.

Countless examples have taught us that many technologies are double-edged swords.

The difference is that both enhanced centralization and decentralization are not all bad news for us, but wishful thinking that blockchain technology is decentralized is not really accurate, it's just that we use it in a way that makes decentralization possible.

The current public chain's [Code as Law] and [Token Economy] are considered to be the iron law of blockchain, and some people take this point and discuss it with the editor, arguing that the topic of decentralized management doesn't make much sense. I'm also happy that someone is concerned enough to discuss this with me.

My personal opinion is that society cannot and does not need to reach complete decentralization anytime soon, and that partial decentralization (or partial decentralization, depending on your philosophical point of view) is already able to meet the demand to a large extent. With this in mind, certain management measures are needed for these centralized nodes, otherwise problems can easily arise.

Bitcoin's network is secure from a code perspective, but with things like mining pools, it still becomes a network that can be easily breached, so personally, I think management initiatives and ideas still need to follow.

Be the blockchain information platform with attitude


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