Topic: Decentralising blockchain (Read 166 times)

I really appreciate this kind of initiative. Their website looks stunning. They look very promising to bring a change to the market. I hope their impact brings fortune to crypto market

"Nowadays market is based on decentralized Blockchain. But I think more and more hybrid platforms are coming and offering various facilities. But still I believe decentralized is the best as it is more secured
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Hybrid technology is going to be accepted soon. There is no doubt about it.  I heard that Ripple and XRP is going to launch a hybrid technology based on both centralized and decentralized blockchain

I think hybrid solution of Blockchain technology will bring lots of facilities to the investors. In coming times it will be necessary for us to deal with centralized system with safety. So hybrid is the solution

Blockchain is the greatest technology which provide the advantage of decentralization and many company and institution use this technology and try to develop too.

After the creating and to become famous of bitcoin that is made blockchain decentralized technology the economy like too much and the term decentralized blockchian plays vital role in the market and to invest in is the best thing.

The use cases of blockchain is really for centralized purposses. From my understanding, blockchain is a distributed ledger technology which is akin to an accounting system which records every transaction that has happened to it.

Decentralization  play very vital role for crypto and it's ensure blockchain technology. And that's why anyone can transect staying anonymous and it's ensure to avoid third party.

Hybrid solution is great for blockchain technology and in future it will help a lot because maybe in near future cryptomarket have to deal with centralized system. So hybrid solution will be a safe thing for investors here.

The benefits of decentralisation through blockchain can arise the issue of fragmentation among the loyalty industry. As, a single individual can take part in many loyalty programs at once. But, a hybrid solution can definitely put an end to this problem. So, for loyalty programs, hybrid solution still looks more feasible to me.

Loyalty programs on decentralised blockchain would involve development of the platform and running of the program which have to be managed by a group of individuals who are focused on evolving the program by consensus. Don't think it will be really feasible as a loyalty program from my perspective.

I am not opposed to the idea of a fully decentralised blockchain loyalty program but, I'm yet to identify a meaningful benefit out of it. A hybrid solution like this, which is not considered decentralized will definitely fail to gather the interest of the users and investors. As, a lot of investors nowadays are only looking for ways to remain anonymous.

Could it deliver additional benefits compared a centralised blockchain loyalty program with a decentralised cryptotoken?

Firstly, it’s important to clarify what is meant by a decentralised program. In a paper titled The General Theory of Decentralized Applications, dApps, by Johnston et al1, a decentralised application must meet four key criteria:

1. It must be completely open source, operate autonomously and with no entity controlling the token majority. Changes to the application must be adopted by consensus.

2. Data must be cryptographically stored in a distributed blockchain to avoid central failure points.

3. The application must use a cryptographic token for access to the application and as a reward to network supporters.

4. The application must generate tokens according to an algorithm that values contributions to the system.

For a loyalty program using a hybrid solution comprised of a non-blockchain loyalty platform connected to a blockchain platform, the application is clearly not decentralised. While a cryptographic token is used to reward supporters (for their engagement) and the application generates tokens that value contributions to the system (such as retail partner transactions), the loyalty program code isn’t open source, it doesn’t operate autonomously.

The best article found to read about this matter is https://www.blockchainloyalty.io/2018/08/27/decentralisation-and-its-impacts-on-blockchain-loyalty-2/