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Blockchain isn't decentralized. The network is run by a handful of companies, mainly in China.
by dilemma 9y ago
Blockchain isn't decentralized. The network is run by a handful of companies, mainly in China.
- jasode 9y agoI was talking about blockchains. Are you talking about Bitcoin? blockchain != Bitcoin blockchain != Ethereum
- dilemma 9y agoReasons other blockchains won't exhibit the same behavior as the two most used ones? None.
- codegladiator 9y agoReasons N+1 th implementation wont exhibit the same behavior as the N most used ones ? How is that none ?
- poopoopoopoo 9y agoArguably for the same reasons though it would be hard to avoid centralization on a public chain where there is reward. For private chains this may be possible to choose such parties that you can trust that the chain is 'decentralized enough'
- dmm 9y agoEven if every chinese miner decided to collude and generate invalid blocks the result would be those blocks being rejected by the standard bitcoin nodes in favor of any valid blocks. Having a majority of hashing power does give them power but it definitely doesn't give them control over bitcoin. Mining is centralized but bitcoin consensus is decentralized.