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All of the web1 equivalents are centralized systems, where the assets in question cannot be traded independently of the central authority. That is the differenc
by darawk 5y ago
All of the web1 equivalents are centralized systems, where the assets in question cannot be traded independently of the central authority. That is the difference.
- usrbinbash 5y agoEvery system in a "web3" environment is still hosted on some server or cluster. And someone, somewhere, has the root pwd for that server. There is still a central authority. That someone decides if the server is up, what code it runs, and how it interacts with voting, contracts, tokens, etc. on the ledger. The only thing in such an environment that is "dezentralized", is the public ledger (aka. the "Blockchain"), where the current state of the tokens, settings, etc. are stored. If the people running the service decide that whatever is written in that ledger no longer applies to them, it no longer applies, period.