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The one thing I think that people should get rid of is the use of the word 'decentralization' in regards to blockchains. They're just about the most centralized
by Barrin92 5y ago
The one thing I think that people should get rid of is the use of the word 'decentralization' in regards to blockchains. They're just about the most centralized thing there is because they create a global, ordered and absolute record of transactions. It's one big old state machine distributed across a lot of hardware. Which explains why they're so slow. Ethereum I think used the term 'world computer' at one point, which is apt.
And the author is right that very few people need a world computer. Imagine if you send your grandma a message but but every time you do so you check in with the rest of the world for confirmation. That's 'apps on the blockchain'. Local state is fine and global consensus is irrelevant for probably 99% of what you do.