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Blockchain is Not Trustless or Decentralized

Written by @FrederikBussler | Published on 2019/10/27

TL;DR
If you ask the average person in the blockchain industry what the benefits of blockchain are, they'll probably mention trustlessness and decentralization. Three modes of decentralization are described: Architectural, political, and logical. Blockchains like EOS are extremely centralized, having just 21 nodes. But if we look at big tech players like the FAANGs (Facebook, Apple, Amazon, Netflix, and Google), they have many, many servers that are highly distributed. When a new transaction is made, the changes are replicated across the entire network, updating every node.

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Written by
@FrederikBussler
Published author and writer.

Topics and
tags
startups|blockchain|blockchain-use-cases|latest-tech-stories|decentralized-software|web-monetization
This story on HackerNoon has a decentralized backup on Sia.
Transaction ID: Ew9_zPAuJ64RTocKY8HyaA37mliohNNJqWuvuDMUho8