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I love this essay because it breaks down how distributed != decentralized. Sure anyone can run a node. But most nodes are in centralized pools running code tha
by bgroat 5y ago
I love this essay because it breaks down how distributed != decentralized.
Sure anyone can run a node. But most nodes are in centralized pools running code that few developers can approve pull requests too.
I'd bet dollars to doughnuts that any crypto is an order of magnitude more centralized than any nation's treasury department
- api 5y agoCryptocurrency in the real world (as opposed to rhetoric and original intent) is more about censorship/suppression resistance and resilience than decentralization. A coin might be fairly centralized, but the centralized coders and miners are replaceable in an organic fashion. If they were all shut down others could pop up and even if there were forks one fork could eventually triumph over others.
- miracle2k 5y agoAny discussion along those lines has to start with the simple acknowledgement that mining is different than running a node, and what the respective purpose of each is, and what consequences more or less decentralisation has on each. Unfortunately, critics never seem to do this.