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Why Decentralization Matters

Jaiya Gill

Why Decentralization Matters

Decentralization is paramount to the success of crypto, I'll explain why.

Why is decentralization important? 

This essentially comes down to how we can leverage technology to help us run things a lot more effectively in the long run, at scale, for the greater good. Decentralization can help us become future-proof. When everyone everywhere has access to the same record of data and information, the need to trust one central and governing entity is no longer required. That enables a future where people have a lot more freedom to do things without having to worry too much about the logistics. 

Historically speaking, centralized entities have proven to take advantage of their power for their own benefits and grow into monopolies. In addition, users give up privacy and control of their data. Decentralization removes the middleman. By decentralizing the management of and access to resources in an application, greater and fairer services can be achieved. The community will be able to work together towards a common goal. With a decentralized approach, every individual and community gets to decide what they want to be a part of and benefit from it fairly. Individuals will have more power and control and more opportunity to earn economic incentives.

While the nature of decentralization does make it prone to censorship of any kind which can be great, the transparency of the system makes it easier to hold any party accountable in the event of the technology being misused. The path to decentralization is far from perfect, but thousands of people around the world are working on making it better.

Back in 2018, @cdixon wrote a post on 'Why decentralization matters' and it's still a great read if you want to learn more. 

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