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Why is this called DeFi? If a dev can nuke an entire app (intentionally or accidentally) it's not decentralized. Contrary to the HN zeitgeist, I have a lot of
by klabb3 4y ago
Why is this called DeFi? If a dev can nuke an entire app (intentionally or accidentally) it's not decentralized.
Contrary to the HN zeitgeist, I have a lot of excitment for decentralization medium- to long term. But it seems almost everything that's happening in the DeFi space today is about as decentralized as a traditional client server app with mysql.
- birracerveza 4y agoMultiple DeFi platforms exist. Some are mostly decentralized, others only use DeFi as a marketing buzzword. Some of these are actually centralized, but it doesn't mean all of them are.
- throw101010 4y agoIn agreement with GP, Solana and other very centralized networks should have to earn their way into the term DeFi. It's hard to quantify but a network that can be "paused" by few devs and relying on the existence of a registered company clearly don't fit this term.
- klabb3 4y agoYeah. I don't get why bother at all with the blockchain when a simple dB would be even superior, then they can prototype away and migrate to decentralized later, if anyone even wants that. Decentralization shares the "weakest link" property with cyber security: you don't get the benefits of you only do half of it.
- aaaaaaaaata 4y agoBecause when you figure out Solana is a joke, you can take your millions off of their chain and onto Ethereum.