🚨 A Call to Action about Decentralization: More than Just a Buzzword! Share Your Thoughts!

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(Edited)

Hey Hivers,

After my recent post on the nature of decentralization in the crypto world, I received a plethora of questions and discussions surrounding the topic. But one thought stood out, "Is true decentralization achievable?"

Cryptocurrencies came into existence with one key promise: decentralization. This meant that power wouldn't be concentrated in the hands of a few, but rather, be dispersed among many. This notion was revolutionary! But as the industry has grown, we've witnessed various projects that seem to stray from this ideal. Be it Ethereum, Solana, Ripple, or many others, there have been debates and discussions about their level of decentralization.

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What Do You Think?

Ethereum, for instance, has been criticized for its shift towards Ethereum 2.0 with the proof of stake (PoS) consensus mechanism. While this might offer faster transactions and scalability, does it keep the essence of decentralization alive?

Solana boasts of its high throughput and low transaction costs, but some argue that its consensus mechanism centralizes control to a few validators.

Ripple (XRP), on the other hand, has been at the heart of many debates due to its centralized nature and the involvement of big financial institutions.

While Hive stands as a testament to true decentralization, it's essential to understand and discuss how other projects fare in this landscape.

Join the Discussion!

I've initiated a tweet on this very topic. I'm calling out to each one of you to share your thoughts, experiences, and perspectives about what decentralization means to you in the context of these platforms. Do they uphold the tenets of decentralization? Are they merely using it as a buzzword? Let's dissect this together!

https://twitter.com/hiro_hive/status/1715876064310759872

Rewards for Your Thoughts

To make this more engaging and rewarding, I'll be upvoting comments with insightful perspectives. Just leave the proof of your participation (screenshot/link of your tweet engagement) in the comments below.

But remember, this isn't just about rewards. It's about understanding the core of what we stand for in the crypto world. It's about ensuring that as we venture deeper into this domain, we don't lose sight of the foundational principles that make cryptocurrencies revolutionary.

Together, let's enlighten, learn, and lift each other up! Dive into the discussion, share your views, and let's collectively demystify the true essence of decentralization.

Stay decentralized! 🚀

God Bless Hive & All Its Hivers,

Hiro

Join our Telegram group on this link if you love participation in promoting Hive on other social media
https://t.me/+-MZzapD6lkcyODhk

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25 comments
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In my own open onion, I think we've only been able to shift to the side of decentralization more when hive forked from steemit. So while many projects like eth have vitalmins decentralized projects doesn't necessarily need to have a founder. Real decentralization is one that makes each community member a share/stakeholder. And Hive I think is the only one I've seen out there with such unique quality.

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Your "onion" (I'm guessing you meant "opinion" 😉) is a fresh take! Hive's split from Steemit was like a butterfly emerging, showing true decentralization. In simple terms, it's like turning every fan into a team player. Projects without a "captain" can sail smoothly too. Hive stands out, making every user feel like they own a piece of the pie!

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Your "onion" (I'm guessing you meant "opinion" 😉) is a fresh take

Yes it is. Lol, you’ll be familiar with it if you use X often.

Projects without a "captain" can sail smoothly too

Yes they can. Hive is a living proof.

This is why likes of justin and SEC won't have a captain to sue or attack even if they want to. Because you'll have to sue the whole community members, which is impossible.

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