Introduction to Decentralisation
ledgerpath.com
ledgerpath.com
If I could understand those terms why did you bother to explain such basic concepts to me in the first place?
If I need to be guided throught those ideas, do you really think I can comprehend what are you talking about with Proof of Work? (Which is never spelled in its full words in the article)
<insert face palm emoji>
I may be wrong, obviously.
[1] http://matt.might.net/articles/programming-with-continuation...
[2] https://pages.lip6.fr/Christian.Queinnec/WWW/LiSP.html
[3] https://www.cambridge.org/core/books/compiling-with-continua...
Nearly every 'beginner' lesson or tutorial or book on programming that I have seen state in the beginning that 'some programming experience recommended.'
>> - Political decentralisation: how many people or entities are in control of the network?
>> - Logical decentralisation: does the whole system behave like a single entity?
>> The take away from Vitalik article, is that all blockchains combines these three dimensions into one system.
Actually, Vitalik states in his article that individual blockchains are logically centralized: https://medium.com/@VitalikButerin/the-meaning-of-decentrali.... It depends on whether we're talking about a specific blockchain or the set of all blockchains. That's why I don't agree with the position of Bitcoin maximalists; their vision is not fully decentralized. When you factor in the centralization of mining power, BTC is only architecturally decentralized. Bitcoin is not so different from a centralized system which has replicas in multiple data centers.
You say it is not so different from a centralized system that has replicas in multiple data centers.
- if we speak about bitcoin nodes: don't forget that centralized systems can be shut off very quickly by governements
- if we speak about miners: new mining pool software is just being developed (and some of if finalized), that takes away power from pools, and gives it to the many small miners:
https://medium.com/hackernoon/betterhash-decentralizing-bitc...
and
https://www.reddit.com/r/Bitcoin/comments/ci2daj/making_mini...
1. Governments need only to track one blockchain to track every BTC transaction. Attempts to deal with this mainly entail coin tumbling, which involves giving your coins to a centralized trusted entity. Larger tumblers are more effective, creating an incentive for further centralization.
2. The central blockchain is a performance bottleneck to event throughput. Attempts to deal with this mostly have to do with federation, i.e. forcing people to transact through another entity (usually a company you pay fees to) if they want faster transactions. Federation is much closer to centralized on the centralized/decentralized spectrum. Usually companies respect regulation from centralized government (meaning a government could force them to not process your transactions) increasing centralization further. And historically, federation happens unevenly, i.e. a large number of email users federating under GMail, which creates further centralization.
3. Mining competition has a very high entry cost because the minimum investment for entry is very high. The solution to this is pools under a centralized pool manager who typically collects fees and may or may not collect data on pool members.
Federation protocols have different, decentralized views of data and these views are selectively distributed with peers and distributed in ad hoc ways, and sometimes peers keep each other in check. Federated protocols are decentralized and distributed in this way.
Second word of the article and i almost stopped reading. Is this a sarcastic hypothetical, where what follows is obviously true?
>This is an impossible structure for an organisation to function
So... Why is this "hypothetical" instead of hypothetical?
I suppose im being unreasonable, but i find this extremely offputting and intrepet as a very unprofessional writing.
It's sad that cryptocurrency speculation and hype sucked all the air out of the room vs other decentralized tech.
In the end its leading to a condition where decentralized equals Ponzi finance scheme in the minds of many people.