Topic: Is decentralization essential to an alt-coin being a cryptoassets? (Read 80 times)

Decentralization has often been cited as a significant feature of Bitcoin's blockchain. sometimes it is defined as essential based on ideologic principles assigned to cryptoassets based on Bitcoin's whitepaper.

Nonetheless, the word never appears in Satoshi Nakamoto's white paper. Further, no initially accepted definition of decentralization currently exists as it relates cryptoassets.

I define decentrization of a crptoasset as the distribution of power away from a "central authority" and into a distributed network of connected nodes dependent upon each other. In the case of Bitcoin and other cyrptocurrencies, there is the decentralization of power from centralized financial institutions like banks and treasuries into a network of interconnected and codependent nodes.

However, Ripple and other alts have centralized power into the hands of new companies and individuals while still using the block-chain technology introduced by Bitcoin. Those discussed earlier would argue that these centralized coins violate the ideological principles of decentralization that are central (pun intended) to the blockchain. Their contention would depend on ideological assumptions of the technology derived from Bitcoin's blockchain.

Ideology and technology often intersect with one informing the other. In this case of alt-coins blockchain technology has greatly evolved with the introduction of smart contracts, dApps, tokenization, and other advances without forsaking decentralization. Many of these have developed purposes beyond currency becoming "cryotoassets"," a general category which includes cyrptocurrency, utility tokens, security tokens, etc.

So, then, is decentralization an essential element of an alt-coin (or token) being designated as a cryptoassets? Does ideology play a role in defining a cryptoasset at all? If not, is technology or some other phenomena or grouping of phenomenon necessary for such purposes? Please, explain your answer as fully as possible and includes resources/credentials if you'd like, though this is not necessary.

And thank you all for your responses.