4 ms·
Centralized solutions are currently much faster, but they may not be in the future. Also, other coins (that offer spare computing power) or commercial enterpris
by DeeperSea 9y ago
Centralized solutions are currently much faster, but they may not be in the future. Also, other coins (that offer spare computing power) or commercial enterprises could act as a power nodes (sub-centralized solutions) in a decentralized network, to speed it up for a fee when needed. Decentralized peer2peer content delivery is currently owned by centralized players, like Akamai. I see no reason why it could not work when it is owned by its users. https://cryptonewstrends.com/ https://cryptonewstrends.com/
Because the software has to operate in a trustless environment, a lot of attention has to be spend in making these systems more secure. Security through obfuscation is not a fall-back anymore. If we had known that LastFM stored password hashes as unsalted MD5, would we have trusted it with our accounts? We will have fuzzing tools and static program analysis to help automate checking the security of a contract.
Forks can be dealt with in a decentralized manner: voting power being assigned by a provable amount of tokens you own. You can run an entire election in this manner, cryptographically voiding any "vote rigging" argument.
You may have so much freedom as to shoot yourself in the foot. Therefore, Cryptocurrency banks may provide support for payment solutions, insurance, lending, for people who don't want to store all their money under their flammable mattress.