Many new projects using the name decentralized aren't capable to be fully decentralized because what they offer are more like centralized ideas, it's shocking that many DeFi projects got hacked in 2020, this will forever be remembered in crypto history, why are DeFi projects easily getting breached by hackers ? Are centralized projects and platform a more reliable option right now? Why DeFi?
Don't trust those decentralized project most especially DeFi, they find it easy to change smart contract address for one reason or the other and they are still claiming to be fully decentralized, it's a trick to attract investors to their projects, I suggest you find ways to make money out of them and invest on better projects 
Topic: Are centralized projects more reliable right now? - page 2. (Read 295 times)
The name DeFi is been used to take advantage of the hype months ago, don't rely on decentralized projects to keep your funds safe, even Scammers have their ways to scam DEX exchange users, both centralized and decentralized projects aren't 100% safe, the only place where your funds is safe is your wallet that you owned private keys
Decentralized finance became a fancy name to promote and attract investors. Some DeFi project that is meant to be Decentralized more like a centralized project. But the real DeFi project has a good future ahead of them especially Decentralized exchange. But they need to be more user friendly first. Security also something that needs to be improved in these sectors.
they are using the name decentralized because it was hot this year but they dont fix their product if what is it really meant to be .decentralized exchange has a higher success over the other decentralized projects because it will be used everyday by crypto traders .
exchange wont never be out of trend and its why we have many of them . it will be a tough business to venture if your not creative and introduce a new concept that will outsmart the others .
Almost everyone in crypto space have high hopes on decentralized projects, they believe that with decentralized ability they are safe from laws and government and other things that's only available through centralized projects and platforms but what they don't know is new DeFi projects are just using decentralized wrongly, most new projects today are from inexperienced team, decentralized isn't to be blame here
Just because decentralised project is not perfect yet centralised project is not the soul of crypto. Satoshi vision is to make decentralised system which is not only few people taking full control like Bank. Just support the dev by buying in legit ICO. Legit developer will create someyhing good someday.
Many new projects using the name decentralized aren't capable to be fully decentralized because what they offer are more like centralized ideas, it's shocking that many DeFi projects got hacked in 2020, this will forever be remembered in crypto history, why are DeFi projects easily getting breached by hackers ? Are centralized projects and platform a more reliable option right now? Why DeFi?
This case scenario borders many angles. First, I would say decentralized projects are more reliable because they bears the true idea/concept of the crypto space thus leading to more transparency and accountability, however there are a good number of projects just using that term "decentralization" while in reality, they are not, that is, they are just using it to attract people and nothing more. Secondly, centralized projects are also good but somewhat reliable and thus depends on the project and its team, a project like XRP has changed status quo, but can same be said of a whole lot of centralized projects coming up now? No. Thirdly, in the case of Defi projects, they are meant to be truly decentralized but with them getting hacked, it is a sign that something is actually wrong and I can't really fathom who to blame, but most likely the team.
Therefore with all these, my opinion is, there are good decentralized projects and good centralized projects as well, and in addition to this, choosing the project to invest should be based on the idea and use case as they are the most important deciding attributes.
Decentralized finance is nonsense, simply because they use cryptocurrency they call it a decentralized system with confidence. In fact, their financial circulation is centralized on the platform they make. To make matters worse, their platform was not really ready to use which triggered a hack.
It seems like there is no difference between decentralized and centralized projects anymore in crypto space, most especially those crappy DeFi projects that claim to have better features, telling investors that their funds are safe but they are all wrong, I started having a second though about DeFi projects when kucoin hack took place weeks back, many DeFi projects find it easy to switch their smart contract just like that, what is full decentralized in that?
Yes that's true, only DIA decide not to change their smart contract because doing so is practicing centralization, they cope with the situation and find other solution to control the loss fund from shrinking the whole volume, they block the available volume on uniswap somehow because that's the only way the scammer can sell the stolen fund, it's a smart move
It seems like there is no difference between decentralized and centralized projects anymore in crypto space, most especially those crappy DeFi projects that claim to have better features, telling investors that their funds are safe but they are all wrong, I started having a second though about DeFi projects when kucoin hack took place weeks back, many DeFi projects find it easy to switch their smart contract just like that, what is full decentralized in that?
Many new projects using the name decentralized aren't capable to be fully decentralized because what they offer are more like centralized ideas, it's shocking that many DeFi projects got hacked in 2020, this will forever be remembered in crypto history, why are DeFi projects easily getting breached by hackers ? Are centralized projects and platform a more reliable option right now? Why DeFi?
Well this is strictly for those who thinks that decentralized solveth all things in crypto space, the only true decentralized project I recognize is Bitcoin, it makes more sense that we don't know who the real Satoshi Nakamoto really is, he did this intentionally to follow the true decentralized idea
Probably we are all vulnerable to hackers and even those decentralized market are prone to that so don't over confident with those decentralized project. Anyway, you have to choose on what's best for you because DeFi is doing great right now despite of those incidents but there's no guarantee that they can be more safe compare to CeFi, so its your choice to make and a hard decisions to do.
Many new projects using the name decentralized aren't capable to be fully decentralized because what they offer are more like centralized ideas, it's shocking that many DeFi projects got hacked in 2020, this will forever be remembered in crypto history, why are DeFi projects easily getting breached by hackers ? Are centralized projects and platform a more reliable option right now? Why DeFi?
Jump to: