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Can someone explain to me how something with a single source of truth (the blockchain database) can be considered decentralized?
by boxmonster 5y ago
Can someone explain to me how something with a single source of truth (the blockchain database) can be considered decentralized?
- seibelj 5y agoThe blockchain database doesn't have an owner. Users (public keys) can only modify very specific things related to them, and no node can arbitrarily modify it.
- chroem- 5y agoI will answer your question with another question: would a more traditional DHT with a built-in p2p consensus mechanism stop being decentralized because it has said consensus mechanism?
- boxmonster 5y agoI use the BitTorrent DHT all the time but I don't expect it to be consistent, not even eventually. With money you need something that is 100% accurate 100% of the time. Miners compete to calculate the one true blockchain. That smacks of centralization to me.
- chroem- 5y agoWhich is why I said > DHT with a built-in p2p consensus mechanism The notion that a p2p network stops being decentralized because it has consensus is silly.
- meheleventyone 5y agoBecause like trustlessness and claims to remove middlemen they’re true but only in a very specific context. Every time you see a grandiose crypto claim that doesn’t make sense just add “for a technicality” to the end.
- ultra_nick 5y agoBlockchain is like scientific research. Anyone can announce anything, but only verifiable findings are trusted.