Topic: Decentralization or Scalability? - page 2. (Read 619 times)
It seems like Decentralization is favored. Probably because we are at a website called bitcointalk. But I agree in most of them that decentralization must not be used a tradeoff for scalability.
It's really a trade off, isn't it. At least with current technology.
I think that projects like IOTA actually have both aspects pretty down already which is rare, which may contribute to their long term success.
That said though, I'd definitely not sacrifice decentralisation in favour of anything, scalability included. Simply because that's the sole reason anyone would use BTC in the first place.
Right, if we have to choose one of the two options, why this should not be our freedom? There are hundreds of assets available to scale. But, decentralized cryptocurrencies can survive through our support, and if we do not evaluate it, we may never have a chance like this again. And do not consider this evaluation as a trade, it means decentralized freedom. I think that projects like IOTA actually have both aspects pretty down already which is rare, which may contribute to their long term success.
That said though, I'd definitely not sacrifice decentralisation in favour of anything, scalability included. Simply because that's the sole reason anyone would use BTC in the first place.
Probably the path of decentralization. It is gonna be a gamble though. It could either end corruption of some government at some countries due to transparency it provides and that's quite nice to have actually especially Bitcoin or it could worsen it.
I wouldn't want my wallet to be monitored by these authorities. It is my hardwork and I didn't pick it up from somewhere.
I believe bitcoin can still work with both of them with a lot of fixed adjustments.I wouldn't want my wallet to be monitored by these authorities. It is my hardwork and I didn't pick it up from somewhere.
scalability also has a thicker function for the stage of further adoption of benchmarks to the extent that the effectiveness of the development of the network goes, but there is no definite formula where decentralization will always be eroded by various things involving the government in it, very inevitable.
Scalability has always been a weakness in the blockchain industry when applied in practice. It relates to whether a blockchain network is capable of providing a high-speed and stable quality experience to users. Users and businesses need to know if they can trust a network anytime, anywhere. So scalability should be a priority.
That's right, there are two sides of the same coin. I have said more than once that decentralization is the laying of fees for the maintenance of data centers and responsibility for glitches on the shoulders of the users themselves. The blockchain becomes fully controlled when someone reaches 51% of the computing power and that already was.
We can't talk about one and leave out the other. The beauty of crypto is decentralisation and when technologies are becoming faster and less expensive, it's expected that crypto follows same path. If mass adoption is to be thing then crypto must scale.
I supported what you said because for cryptocurrency to be great in the future and be accepted by billions of people around the world we need it to be decentralized and scalable. However, we already have some crypto that manage the both characteristics and I don't see anything stop a project to implementing both decentralization and scalability into their protocols. 
In crypto land, many people are often looking for ways to make money instead of believing in crypto's core technology (Blockchain) that gives financial freedom to anyone worldwide. Some people prefer decentralization above all else because it provides censorship-resistance against third parties. Others simply prefer scalability over decentralization, to enjoy faster speeds and low costs as much as possible. While many people have criticized Bitcoin because of its high fees and slow TPS, it's more of a feature than a bug as it preserves decentralization in every way.
Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.
What are your thoughts?
I choose both (decentralization and scalability) because cryptocurrency need the two features in other to genuinely be the mainstream of payment without the control of the government or third party. However, I believed the OP don't get the point that a project don't have to be centralized before it can be scalable because we already have some crypto which are decentralized and still hold the scalability features in terms of transaction. Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.
What are your thoughts?
In crypto land, many people are often looking for ways to make money instead of believing in crypto's core technology (Blockchain) that gives financial freedom to anyone worldwide. Some people prefer decentralization above all else because it provides censorship-resistance against third parties. Others simply prefer scalability over decentralization, to enjoy faster speeds and low costs as much as possible. While many people have criticized Bitcoin because of its high fees and slow TPS, it's more of a feature than a bug as it preserves decentralization in every way.
Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.
What are your thoughts?
Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.
What are your thoughts?
Originally, it is both for me. Decentralized systems are key to many sort of transactions that won't require much of the expenses when using third party. Also, the scalability of this technology helps the society jump to the next step of mankind. Hopefully, these two can be and will be preserve as we enter a new era where cryptocurrencies are not just abundant but also relevant and useful to the society.
These two are actually very important, but as far as I am concerned, the first on the list will be decentralization, because that is the true essence of cryptocurrency. Scalability is just an addition. Perhaps, it is meant to just add flavour to it and make transactions to be much easier.
We can't talk about one and leave out the other. The beauty of crypto is decentralisation and when technologies are becoming faster and less expensive, it's expected that crypto follows same path. If mass adoption is to be thing then crypto must scale.
It's really a trade off, isn't it. At least with current technology.
I think that projects like IOTA actually have both aspects pretty down already which is rare, which may contribute to their long term success.
That said though, I'd definitely not sacrifice decentralisation in favour of anything, scalability included. Simply because that's the sole reason anyone would use BTC in the first place.
I think that projects like IOTA actually have both aspects pretty down already which is rare, which may contribute to their long term success.
That said though, I'd definitely not sacrifice decentralisation in favour of anything, scalability included. Simply because that's the sole reason anyone would use BTC in the first place.
Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.
What are your thoughts?
rather than scalability and it's much better to replace it with the utility. scalability doesn't matter a lot these days. The new announcement that comes from the coinfloor to delist all of the altcoin from the market has already proven if scalability means nothing compared with utility. it's so easy to create a scalable blockchain while there is the only coin that already proven its utility and that's bitcoin. What are your thoughts?
scalability just an old story that used by garbage blockchain that cannot create a utility or usability for its token or coin
I would disagree with any idea, such as focusing solely on Bitcoin because we want Decentralization, not just decentralizing work on Blockchain. And, it must also include the number of assets put into Cryptocurrency.
However, I can't disagree with you about the currency Altcoin ecosystem is trash at now. :V
https://www.businessinsider.com/bitcoin-payment-mining-fees-hit-new-high-2017-12
Ethereum is also getting overloaded at that time.
For crypto in the past, scalability matters a lot, but right now even a single scalable blockchain is enough. The fact that if they lack utility right now and that makes the government contradicting with altcoin or also becomes an opponent to it
I agree with you. The more scalability blockchain projects seeks, the more its driven into the hands of with government or private institutions as well as individuals. Remaining decentralized entails a long time of waiting for more adoption and scalability but seeking scalability reduces its decentralized abilities.
If the value of today's crypto space with USD is removed, %1-2 of the community will be left behind. The majority is only interested in earning more. Decentralization remains in the background, as there are priority demands in such a system. Indeed, it may be possible to carry both in one basket, but if one is not superior than the another.
When we are talking about brand new coins, decentralization is a dream. Why do people pay millions of dollars in funds to a team to create a coin? Because they want the team to build a good coin and keep working for it. When a team works for a coin that coin can never be decentralized, it is not humanly possible. So in the long run if you invest into a coin know that it can never be decentralized.
Look at bitcoin for example, it doesn't have any one person behind it and even the core team members can't do whatever they want, hell billion dollar worth duo created bitcoin cash because they couldn't change bitcoin. When you are in the position of bitcoin maybe it is time to think about availability, if you are new it would be great to move towards decentralization.
Look at bitcoin for example, it doesn't have any one person behind it and even the core team members can't do whatever they want, hell billion dollar worth duo created bitcoin cash because they couldn't change bitcoin. When you are in the position of bitcoin maybe it is time to think about availability, if you are new it would be great to move towards decentralization.
Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.
What are your thoughts?
rather than scalability and it's much better to replace it with the utility. scalability doesn't matter a lot these days. The new announcement that comes from the coinfloor to delist all of the altcoin from the market has already proven if scalability means nothing compared with utility. it's so easy to create a scalable blockchain while there is the only coin that already proven its utility and that's bitcoin. What are your thoughts?
scalability just an old story that used by garbage blockchain that cannot create a utility or usability for its token or coin
I would disagree with any idea, such as focusing solely on Bitcoin because we want Decentralization, not just decentralizing work on Blockchain. And, it must also include the number of assets put into Cryptocurrency.
However, I can't disagree with you about the currency Altcoin ecosystem is trash at now. :V
Even though there’s no easy answer, but I think decentralization should always come before scalability, why else would you scale? If you’re not decentralized enough anyway why not just go for centralized solutions.
I prefer decentralization because there are a very good benefits to scaling in a decentralized way. for one there’s less initial cost involved, users around the world are providing the computing power. There is a much lesser chance of the network going offline, natural disasters, electricity outages, etc. happen in the real world but geographically disparate computing mitigates that. Associated with that risk is regulatory cost, which is also mitigated by decentralization. You also have a much more secure system where people can’t just hack you and steal the money in the system like keeps happening on centralized exchanges.
Decentralization and scalability are equally important. At the beginning of the coin making, decentralization was an important issue but after transactions grew rapidly, scalability became the next issue that needed to be addressed. For the crypto community, decentralization is the main thing because it concerns the security of transaction data but I think it can be combined with scalability in the near future
I prefer decentralization because there are a very good benefits to scaling in a decentralized way. for one there’s less initial cost involved, users around the world are providing the computing power. There is a much lesser chance of the network going offline, natural disasters, electricity outages, etc. happen in the real world but geographically disparate computing mitigates that. Associated with that risk is regulatory cost, which is also mitigated by decentralization. You also have a much more secure system where people can’t just hack you and steal the money in the system like keeps happening on centralized exchanges.
Decentralization should be the one which is the true need of an crypto currency.If we wanted something digitized form of payment then why we need cryptos fiat can be the one which is also available in digitized form but it can be tracked,limited usage and much more.
Jump to: