Decentralization = No Leader? | Bitcointalksearch.org

Vinget-crypto

newbie

Activity: 59

Merit: 0

I don't think there would have been anything valuable in cryptocurrencies if the whole system wasn't decentralized. So probably there might be no leaders in the sphere - just relatively big players whose percentage of the market possessions would still keep low enough.

Bakemat

sr. member

Activity: 779

Merit: 250

Quote from: CryptoBry on November 15, 2017, 12:50:50 AM

Cryptocurrency has a founding principle of decentralization. Decentralization can convey many things and for cryptocurrency that means that there is no central authority or figure that is commanding things. In the blockchain technology, we are referring to the distributed ledger as a database that is consensually shared and synchronized across network covering multiple sites, institutions or locations thereby allowing transactions to have public "witnesses," which have the purpose of making a cyberattack not easy to get through.

Decentralization through the innovations of the blockchain technology is now a proven system already explored and adopted by many institutions financial and non-financial as it is just an open-source and anybody can have it for improvement and to suit it to one's needs and situation.

However, am just wondering...do you think that decentralization can also mean leaderless especially in times of crisis and big challenges?

Decentralization means there's no control or we must say that leaderless. Yeah its true. In times of crisis and big challenges not inly the bitcoin moves but the other user and miner and invester all of us was unite just to survive and fixed the problem that bitcoin is in. Bitcoin dont need an leader because bitcoin is the leader we only need to cooperate

scottykarate

member

Activity: 70

Merit: 10

I think the core group is that leadership for now. There will eventually be more standardization and some loose regulations to manage the volatility and enhance the networking.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: CryptoBry on November 15, 2017, 12:50:50 AM

Being leaderless is probably one of the biggest advantages that exist for Bitcoin, since there is no-one to target at large and there is no-one who can damage the image of Bitcoin specifically. We have already seen what happens to the leaders of other digital payment systems, typically it results in them being arrested by some government agency. Being leaderless prevents this completely, and even though devs exist someone can always replace them. There are never limits to who can benefit the network this way, and anyone can take the place of another if required to do so. A wonderful system for most.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Cryptocurrency has a founding principle of decentralization. Decentralization can convey many things and for cryptocurrency that means that there is no central authority or figure that is commanding things. In the blockchain technology, we are referring to the distributed ledger as a database that is consensually shared and synchronized across network covering multiple sites, institutions or locations thereby allowing transactions to have public "witnesses," which have the purpose of making a cyberattack not easy to get through.

Decentralization through the innovations of the blockchain technology is now a proven system already explored and adopted by many institutions financial and non-financial as it is just an open-source and anybody can have it for improvement and to suit it to one's needs and situation.

However, am just wondering...do you think that decentralization can also mean leaderless especially in times of crisis and big challenges?

Topic: Decentralization = No Leader? (Read 191 times)