EOS
$3.77 0.67%
EOS · 14w

Benefits of Decentralization

Hardly anyone not living under a rock will have heard terms like ”decentralization,” ”cryptocurrencies,” and ”blockchains” thrown around this year. Although all of these concepts can seem diffuse to a layman, their increasing impact on society is undeniable.

Governments and corporations are exploring decentralization

For example, different governments around the world are announcing blockchain initiatives in rapid succession. Corporations are also betting big on the future potential of blockchains, with hopes that they’ll be able to increase transparency.

Moreover, cryptocurrencies have likewise made a significant splash this year. Although 2018 has been characterized by substantial cryptocurrency losses following last year’s all-time highs, the discussion regarding cryptocurrency shows no signs of slowing.

Decentralization is the central concept that underpins both the notion of blockchains and cryptocurrencies. However, this ultimately begs the question – what exactly is decentralization?

The term can be somewhat elusive and seem ambiguous for those new to it. However, the underlying concept is actually quite straightforward. The key to decentralized technologies, such as blockchain technology, is that they do not rely on one central point.

Traditional systems often require a single actor to oversee and facilitate processes. Although this is a workable solution, it gives the centralized actor a significant degree of control over the system itself.

This means that any prospective user needs to relinquish control to a single government, individual or firm; whomever the central actor may be. This means that users will have to invest their trust in the centralized actor.

Moreover, this also means that different processes become prone to failure, sabotage or takeover – as they hinge on a single central actor on which the entire system is built. Such processes, systems or networks are referred to as centralized. Continue on toshitimes.com

Recent news
EOS +0.67% · twitter.com · 3h

Gotta love CT | DonAlt on Twitter

There is a coin with close similarities to EOS that will pump to the heavens in the near future (Next 12 months) and people will ask themselves how the fuck it happened and how they missed it.I hereby...
EOS +0.67% · medium.com · 3h

Inter Blockchain Communication Vol.2: IBC Pioneers

“Efficient inter blockchain communication is key to scalability and protocol evolution. One token can easily migrate from one generation chain to the next as we learn how to scale. Current and future…
EOS +0.67% · coincodex.com · 8h

EOS Price Analysis: EOS is Looking Bearish Against ETH

EOS has been steadily gaining value against ETH throughout 2019 so far, displaying a reversal after a large drop in December of 2018. Following the uptrend, EOS saw a bearish retracement in mid-Februa...
EOS +0.67% · trybe.one · 8h

How to day trade cryptocurrency

As some of you may be aware, I used to day trade quite a lot before I started with Trybe. I don't have much time for it anymore as if done correctly then it is a fulltime job. I want to delve into tra...
EOS +0.67% · medium.com · 11h

#BuiltOnEOSIO: Effect.AI

Since the legendary Go match between AlphaGo and Lee Sedol in 2016, when Google’s DeepMind product beat the 18-time world champion — marking the first time a computer beats a 9-dan professional, the…
EOS +0.67% · youtu.be · 11h

Data Wars IV - EOS, A New Hope

A Long time ago in a galaxy far, far away. This bit of awesomeness was inspired by my fantastic journey with eos, enjoy. Made with the assistance of kassella...
EOS +0.67% · medium.com · 11h

How to Create an EOS Account for Beginners

If you are new to the blockchain world and be interested in EOS, apparently you would like to have an EOS account first. Then you may do things like most common users will do — search“How to Create…
EOS +0.67% · trybe.one · 12h

pixEOS At GDC!

Hi everybody! The first day of GDC is upon us, and pixEOS is on the scene! I’ve been meeting with tons of gaming developers, and telling them about pixEOS, the merits of non-fungible tokens (NFTs), bl...