Nerd For Tech
Published in

Nerd For Tech

3 ways in which Decentralized Systems are not Decentralized Systems

How labels deceive

Decentralization is touted as a key advantage of most decentralized systems.

For example, a crypto-currency built upon a blockchain-based distributed ledger is “decentralized”. In contrast, the national monetary system controlled by a central bank is “centralized”. The decentralization in the former might be considered an advantage over the latter because members are protected from arbitrary monetary policy (e.g. controlling money supply) by a central authority…

--

--

--

NFT is an Educational Media House. Our mission is to bring the invaluable knowledge and experiences of experts from all over the world to the novice. To know more about us, visit https://www.nerdfortech.org/.

Recommended from Medium

BetTronLive, Lambo Dice

INSIGHT ON THE UMBASSADOR OF THE PROJECT

PARSIQ Q&A #9

Meta Transactions: What are Gasless Transactions?

Ethereum Commonwealth development update (23 Aug 2017)

Blockchain Technology has the Potential to Revolutionize the Global Gaming Market

Weekly NFT Update #17

Blockchain : The Distributed Network -part1

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Nuwan I. Senaratna

Nuwan I. Senaratna

I am a Computer Scientist and Musician by training. A writer with interests in Philosophy, Economics, Technology, Politics, Business, the Arts and Fiction.

More from Medium

Ethereum Layer 2 Scaling Solutions Demystified

Notable Ethereum layer 2 scaling solutions

Web3 and Blockchain: The ‘access layer,’ decentralized exchanges, and geopolitical finance…

Blockchain And Election System

Blockchain Startups-The New Future