Decentralization is not a panacea

If you look at the manifestos of the majority of cryptocurrency and
blockchain projects, almost all will have the same distinctive feature — the
assignment of decentralization of a huge role in the positioning of the product.
Indeed, decentralization and independence from any command center is the
embodiment of the ideology of the free Internet, but is it necessary to
decentralize cryptocurrencies, as it may seem at first glance. Let’s see.

First, let’s define what decentralization is in the context of
cryptocurrencies and blockchain networks. Decentralization implies a
single-level network, that is, a network, all nodes of which are absolutely
equal in rights. At first glance, it is democratic and correct — there is no
Bank President, Board of Directors or other persons in power who could lobby
their interests to the detriment of the interests of the majority.

However, there is another side of the coin — with this approach,
any community faces difficulties in development and significantly limits the
potential for…

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