Decentralization or Scalability? - page 3.

setialovers

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Quote from: Abiky on December 17, 2019, 12:57:25 PM

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? Huh

Decentralization is an important part of cryptocurrency because this is what underlies Bitcoin was created. But with the development of transactions that occur, scalability also becomes important and I think the technology will continue to develop, maybe in the future there will be a project that combines the two

antsam

full member

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let nature do the selection, whether Decentralization or Scalability. Because both have advantages and disadvantages of each. Crypto is here to speed up transactions and penetrate transactions between countries, but regulations will definitely emerge between them.

VanDeinsberg12

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Quote from: Abiky on December 17, 2019, 12:57:25 PM

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? Huh

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.
scalability just an old story that used by garbage blockchain that cannot create a utility or usability for its token or coin

ATSgrowth

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homt.net

I think that answer is clear. Decentralization!
If you want high scalability use MasterCard or Visa, if you want decentralization use Bitcoin. It is technical problem that decentralization is connected to low scalability because the information about payment has to be send among many nodes. Wink

walerikus

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You argue weather it is possible to have a scalable solution or decentralized for a blockchain. While there is a working example, Digibyte operates 1066 tps on a Proof of Work blockchain, it has multishield feature that helps secure the network to prevent 51% attacks. Digibyte also use multialgo to make 51% attack even less possible, because every 15 seconds each block is generated by a different algorithm SHA, QUBIT, SCRYPT, SKEIN, ODOCRYPT and needs different equipment. Digibyte also has real time difficulty adjustment so it helps network scale faster and have no delays to generate blocks. All this stuff is already possible and operating live on a real blockchain network.

teosanru

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Quote from: Abiky on December 17, 2019, 12:57:25 PM

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? Huh

Actually both of them are equally important because Cryptocurrencies are advantageous because they are decentralised but for me personally scalability is much more important because if we are expecting Cryptocurrencies to boom over the world then it must have the capability to cater millions and billions of transactions in a minute. The mere 3000 transaction block size within 10 minutes is surely not going to help anyone. So definitely bitcoin will have to be improvised to be used as a mainstream currency.

bittraffic

hero member

Activity: 3038

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If I have to chose its going to be the decentralization because after all there is an option for the lightning network for the faster transaction. What this market need is the decentralization to once and for all end the hacking of funds and scamming of centralized platforms. It shouldn't just the market should be decentralize but the projects as well.

webtricks

legendary

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Bitcoin's block size is limited therefore it can only process handful of transactions per block. As you said, it is feature rather than bug. This contributes to the market value of Bitcoin, making is more difficult to own. This is called premium creation. That is why Bitcoin's price has risen so much.

But it is wrong to expect everything from Bitcoin. It can't be used as your go-through currency for shopping or a currency supporting your online application that processes hundreds of transactions per second. To solve this problem, developers have created many coins over-time. With less block difficulty (due to less mining competition), large block size, shorter block creation time; such coins solve the basic problem of Bitcoin. But it doesn't mean such coins are centralized. Decentralization is not black/white concept. Most of the coins are still community-driven even though their spread is much smaller than the Bitcoin.

walerikus

member

Activity: 180

Merit: 18

Quote from: Abiky on December 17, 2019, 12:57:25 PM

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? Huh

Simply take a look at Digibyte. At the same time it's secure, decentralized and scalable as no other.

Bim abk

sr. member

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in a system I prefer to decentralize because I think one form of resistance for people who abuse third-party transactions, as well as the transparency in the transaction makes me prefer bitcoin in.

ansi

sr. member

Activity: 882

Merit: 254

You're mistaking about the part tthat " there is no more need for Blockchain scalability".
Scalability itself means non stoppable development to bring the best that the market, economy, communities,... need.

If i had to choose among both, i would differently choose Decentralization over Scalability.
Scalability is something inevitable while decentralization is literally jeopardized nowadays.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

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? Huh

Topic: Decentralization or Scalability? - page 3. (Read 612 times)