Topic: Decentralization or Scalability? (Read 598 times)

We can't talk about crypto or blockchain without decentralisation and they can't be useful without being scalable. So I believe there must exist a balance between the two if we are to move past this stage.

I believe that developers will somehow find a way to balance between decentralization and scalability to maintain a usable Blockchain network for the foreseeable future. At least, Bitcoin is heading towards the right direction by adopting scaling solutions in the safest way possible. This would allow the cryptocurrency to remain decentralized while at the same time being scalable for the whole world to enjoy. But we cannot deny, that it's impossible to achieve perfect decentralization and scalability at the same time. One way or another, a certain level of centralization will exist in order for scaling solutions to work as intended. You'd either go towards the fully decentralized route for censorship-resistant payments or the fully scalable route for quick payments with reduced security. At least, that's the way it works.

But rest assured, that Blockchain technology is being heavily improved to make it a huge contender against the existent financial system. If successful, Bitcoin and other cryptocurrencies will be able to surpass VISA's TPS without decreased decentralization. That's the goal many mainstream developers are hoping to achieve in the long run. With so much money invested into the crypto/Blockchain space, anything is possible in the future. Just my opinion

When you find it difficult to take sides, it is better to take sides with yourself, do research on something new and follow your heart, because things like that are far better than having to side with others.

Whatever we say here, but the cryptocurrency market will nevertheless develop in the same way as it had developed before, and we still cannot say how the cryptocurrency will look after many years. Almost all options will be used and, perhaps, it will be possible to find some optimal balance between decentralization and scalability. It is also quite possible that the development of cryptocurrency will lead us to completely different options for the development of cryptocurrency. For all of us, these are completely new unexplored technologies and opportunities.

I believe one of the most important aspect of cryptocurrency is decentralisation which gives every individual the authority to manage his finances. It just dawned on me that decentralisation and mass adoption cannot be achieved simultaneously and this makes taking a side very difficult for me.

Currently, Bitcoin is indeed the most decentralized project.
Of course, Bitcoin needs to focus on the development of scalability. But in this process, it cannot at least reduce its degree of decentralization.

Bitcoin doesn't even focus on the decentralization because it's already decentralized. Bitcoin needs focus to the development of the scalability solution and no more. As bitcoin itself has already considered to be utility coin. Blockchain is necessarily caused by it has become the core of the crypto to run its own network. Blockchain is a critical part from the crypto. you must understand it better.

I agree that Bitcoin should focus on decentralization, but blockchain technology is not necessarily. Blockchain technology has other applications besides currency.

Scalability can be simply divided into 2 definitions,speed and capacity.
Confirmation speed and decentralization are difficult to achieve at the same time, but capacity and decentralization have successful solutions. For example, DAG.
However, when analyzing scalability and decentralization, you must consider security. The security discussion boundary determines the degree of scalability and decentralization.
So,for bitcoin,I prefer decentralization.That's why it exits.
No decentralization,No Bitcoin!

if asked to choose between the two, I prefer decentralization because that is the main purpose of bitcoin made by satoshi, yes even though developing blockchain technology, but still the main goal is to decentralize everything.
there are also many cryptos that use blockchain technology that is still centralized.
or there are some countries that intend to make their own digital currency and be controlled by them.

You have answer within your statement. Over the time large blocks will be possible along with large number of miners to ensure decentralization.
Mr.Satoshi definitely might have foreseen this so if large blocks will not ensure the backward comparability then lighting network kind of developments will take care the problems of availability along with decentralization.

With my little knowledge, I guess decentralization will never be compromised but enough technologies will be invented to ensure more scalability.

the nature of bitcoin is basically decentralized and I'm sure about this, but market manipulation sometimes makes people think that bitcoin can be regulated. and for this one problem actually lies with people who have large funds, but sometimes the manipulation they do in the market is not successful because again it is that the nature of bitcoin is decentralized, anyone who tries to regulate it will not be able to because the price flow can move depending on market needs

I believe in decentralisation and think we should stick to it. Sooner or later, a decentralised model is going to change the world, the only thing we need to do is to wait for further steps towards the mass adoption not only for crypto, but for decentralisation as well.

The more here decentralization becomes blurred, all competing to improve scalability with the aim of making efficient. But the thing that was sacrificed was decentralization.
I prefer decentralization even with a large transaction fee because it can make bitcoin and blockchain last long for the welfare of anyone who uses it.

The main fundamental of Blockchain technology is decentralisation and when a blockchain is not decentralised, then it is not a blockchain at all, we should not compromise on this issue at all because we know that Blockchain technology is still in it's early stage and there is still room for improvement, eventually there would be a Blockchain that would be scalable without having to sacrifice the very core of blockchain technology.

yes it is true that if you want to send quickly of course you will take centralization but if you want freedom without attachment to other parties you will take decentralization.
so it might be balanced for a long time, or it will continue to exist and coexist, centralized and decentralized

To choose between the two option, both could possibly a good idea depending on what particular option for scalability could be consided. Because even with the low transactions per blocks, what matters the most is that the bitcoin could still reach its destination and at the same time, without the need of any thirdparty to handle the transactions. But the only problem I could see in here is the use of more power to process more blocks because of the bitcoin scalability problems.

I cant seem to think to segregate one of these cause both are important when it comes to blockchain. I like decentralization of course, once we are preoccupied by centralized system this so call crypto will be another internet of things now which Im afraid is going to happen soon. Scalability on the othet hand is also important but we must priority decentralization to further strengthen the sole purpose of blockchain.

Most of us, veterans in the crypto space, would prefer Decentralization on top of Scalability for a very good reason. In a world where powerful governments and central banks control the financial system, it's best to rely on an alternative that can withstand any situation in the future. Bitcoin's ever-growing Blockchain network has reached a level of censorship-resistance far beyond reach. If it scales to massive TPS, I'm afraid that it will lose its luster over time as the risk of centralization increases over time. Take a good look at Bitcoin Cash and Bitcoin SV which are marketed as "better versions of Bitcoin", yet they're controlled by a few players in the mainstream world. Decentralization its what it's all about ever since Bitcoin was introduced to the world by Satoshi Nakamoto.

If people want faster transactions, their best bet would be to use a traditional payment processor like Visa, MasterCard, or even PayPal. Blockchain technology was not meant to scale indefinitely, as it would turn itself into a "centralized database" than anything else. Most people don't understand this, as they just want convenience above all else. They're also in it for the money instead of the core technology that helps democratize finance. In the end, scalability might win on top of decentralization because of human greed. Mainstream companies and startups will pressure developers in order to improve the coin's underlying Blockchain network's scalability. As long as there is money involved, you cannot expect to enjoy a decentralized financial system that puts the user first instead of said entities. Just my opinion

Nah, a lot of people have a love for Bitcoin and the technology behind it, but nobody is ready to take the risk of losing their money. If Bitcoin was stable, then people wouldn't be looking at making money with it but would be more focused on using the technology.

Another question is - if Bitcoin was stable, how many people will be ready to make use of it? Maybe if it wasn't volatile as it is today a lot of people wouldn't have been interested and it would have just died off like that. If you check the story of those that started Bitcoin at the very first, they got into it because they saw it as an investment and not really as a payment method. Whatever you choose to see it as is up to you.