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In other contexts "split up between a group of folks" (that may be open to newcomers or not) is sometimes called "federated", while "everybody has (theoreticall
by pgeorgi 7y ago
In other contexts "split up between a group of folks" (that may be open to newcomers or not) is sometimes called "federated", while "everybody has (theoretically) a voice in the outcome" would be "decentralized".
In bitcoin, everybody has a chance to voice their opinion on what the ledger should look like (nevermind how miniscule it is these days given warehouses full of ASIC miners). Libra has 27 designated peers, and somebody in that group gets to decide about number 28 (and, potentially, about the other 26).
- camjohnson26 7y agoAnd those ASIC miners serve a purpose, it becomes much harder for a state sponsored actor to develop more efficient mining technology to attack the network. And the miners who run the ASICS are the ones with the highest incentive to keep the network running strong.