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Unless I am misunderstanding how Bitcoin works, doesn't this make the whole Bitcoin mechanism a bit centralized since every transaction would have to go through
by isuckatcoding 10y ago
Unless I am misunderstanding how Bitcoin works, doesn't this make the whole Bitcoin mechanism a bit centralized since every transaction would have to go through the 21.co servers?
- paavokoya 10y agoSimilar to the internet and AOL in the late 90's..
- aminok 10y agoYes (though unlike traditional third party intermediaries, there is no third party custodian for money you receive, meaning you don't have to trust 21 to not steal/freeze funds you've received). The innovative component of this that Bitcoin brings to the table is that the payment system linking the users to the developers is open/non-proprietary, with no registration walls encumbering usage.
- lgas 10y agoI don't know how 21 actually works but it could be built in a way that the example code on their home page works without ever talking to their servers. That could code manage the transaction directly with the block chain.