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ASX Scraps $250M Blockchain-Based Chess Project
- aurareturn 4y agoWhen using a blockchain, choose 2 out of 3: security, performance, decentralization. ETH PoS is security and performance. Bitcoin is security and decentralization. It can also apply to non-blockchain world. Visa chose security and performance. If Bitcoin ever wants to perform as many transactions as Visa per second, it'll slowly morph into a centralized Oracle database. You can see this playing out in the crypto world today. Almost all crypto projects are converging on security and performance while ignoring decentralization. This is because in order to gain utility in the real world, it needs to be fast and secured. Otherwise, traditional tech outcompetes blockchain tech. ASX probably discovered that an exchange needs to have high security and high performance. Decentralization does not matter much.