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Is cryptocurrency really decentralized? When we look at crypto whales then this question seems to be false as the blockchain does not require a transaction cost, this is a fact of cryptocurrency.
Rethinking blockchain vs decentralization
This question has come up many times and again when people do not think there should be a decentralization process. If there is not then I will refer you to the relevant information I said:
What’s the state of blockchain governance? Let’s go first to see if there’s a consensus mechanism that can provide a consensus across any number of nodes within a cryptocurrency, we’ll look at that right after we add node to node of blockchain but it’s a good starting point.
What are the characteristics of a blockchain?
In this section I’ll be looking at the different characteristics different types of blockchain like its memory blocks, how its transactions will be sent and the transaction fee.
What is blockchain technology? Is blockchain technology a “computational” feature in the blockchain or does it require a computation in some cases and also a change of an input?
Does the blockchain allow anyone to control their own Bitcoin’s and if so how is the decentralized architecture going to take over the financial system?
What are some of the main advantages of Ripple, and why should I care how it’s implemented?
Well, Ripple allows you to transact with your bank as if the bank was Ripple and to send a confirmation of payments to any individual and that would allow you to transfer payments to someone’s account. Because of this, banks can easily have large numbers of clients. The idea of the Ripple network is to offer a high level of trustability, not to scale through traditional payments, but to offer a new level of security that is always being utilized as well.
Many Ripple customers are not aware of how they might become bank customers, in particular in the New York market. In order to find an institution outside of Brooklyn with a bank account and/or account at Ripple, you would have to be a Ripple user.
How do they deal with Bitcoin’s and Ripple’s issues?
Is the blockchain software capable of handling the real world and do they need to consider that it’s all part of the same system or the same protocol? The Ripple platform is actually very promising, while I would imagine they want to test if they can’t handle the real world.
The Ripple platform is actually very promising for the blockchain industry. While some initial applications are already out there, Ripple is still quite small in the traditional bank space. While it takes a bit of an investment, and certainly a big capital gain, the Ripple system is one step closer to getting there.
But when we look at bigger wallets of crypto holders then cryptos doesnot seem to be decentralized much like bitcoin. Do block size estimates be used for a good long time considering your needs and your size needs (and the people who do say that should know the difference)?
I can confirm that a large majority of Crypto owners don’t know enough or agree with me with respect to their wallets or the size of their wallets, so if a chain or wallet-size is to be used then it takes about 2 years to see whether a consensus exists.
Just because bitcoins are the right to be mined does not mean that they are bad or you should NOT do anything and only if you can get them. That said you have to understand that there are good (or near-good) coins out there.