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Topic: [2016-04-21] Video: Understand the Blockchain in Two Minutes (Read 273 times)

legendary
Activity: 1904
Merit: 1074
I think someone should highlight this fact about decentralization --> If the nodes on a network {Blockchain} are all hosted within a private setting, it is permissioned and not comparable to a true

public Blockchain. A permissioned Blockchain with centralized development has inherit risks and is not based on the consensus of the general public. Let's say a big organization decides to create their

own private Blockchain... and they have control over the development... then nothing stops them from manipulating all aspects and features of the tokens and in the event where they use that token

as a currency, they can manipulate the supply and demand, as is currently done with the fiat system. Bitcoin is still the best option... We are truly decentralized.  Wink
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
Understand the Blockchain in Two Minutes

https://www.youtube.com/watch?v=r43LhSUUGTQ
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