Decenternet; The Bitcoin Solution
Hello everyone, I am sure you know that;
The world needs decentralization; the future will be decentralized and the future is now.
In my last blog about Decenternet, I made a detailed introduction about Decenternet, it’s unique platforms in the ecosystem, why you need a decentralized browser, OS and search engine.
If you missed my last blog on Decenternet, you can read through here.
For a quick recap, Decenternet (Dnet) is a complete ultra-fast Peer to Peer distributed Internet platform created using the Blockchain technology.
Also, I also shared about Decenternet (Dnet) astounding components on its ecosystem. You should read through if you missed out.
Today, I will be looking at Satoshi’s ‘Duality an Excerpt’ with respect to Decenternet (DNet). I hope this is interesting. Join me as I will be breaking this down.
Satoshi Nakamoto as known to author, create and deploy Bitcoin’s algorithms, also he is known to devise the timechain which was later called the blockchain. More on that will be explained as we continue, make sure your fasten your seatbelts and enjoy this ride.
Satoshi Nakamoto’s Duality; An Except
Do you know that the principle of bitcoin was from the Cypherpunk community (A community of people who combines lowlife and high tech together, featuring advanced technological and scientific achievements, thereby advocating for the use of cryptography and technology that supports privacy worldwide so as to change the social and political sphere) cypherpunks. Satoshi knew that in order to experience the genuine freedom of speech in an open society, people had to be able to express themselves fully and anonymously.
The word Blockchain was first referred to as timechain during the prebitcoin stage, this was because the Satoshi was mainly interested in the time taking for a block to be released. He was interested in the time interval required for a block to be released before hardcoding to the rest of the chain. During the version 2, it became obvious that there was more to the time interval, it dealt more with the block, as the blocks were underlying elements linked in the chain.
Like Satoshi said bitcoin was a success because it revolved around money and decentralized one at that.
Why did it succeed? I attribute it to a few factors. I view the fact that something like the blockchain, which had already been done in a similar fashion but without much fanfare, was not the prime reason, rather it was because of the very nature and premise of bitcoin. Here, for once, was this idea that you could generate your own form of money. That's the primary and sole reason, is because it was related to this thing called money. It wasn't about the proficiency of the code or the novelty, it was because it had to do with money. It centred around money.source
Do not forget that Bitcoin is a decentralized digital peer to peer (P2P) payment network built on the blockchain. Bitcoin is believed to share the same features with both commodity monies like gold, diamond, as well as fiat monies like the US dollar.
Properties of Bitcoin
• It was a peer to peer (P2P) network, thereby preventing double-spending.
• Holders and spenders were uniquely anonymous
• Prevented mint or other trusted parties
• Easy transfer of money from one end to another on the internet without a third party interference
• Third parties are not allowed to control transactions as the transactions were public and visible to all.
• Eliminate fractional reserve banking and banking policies imposed by a centralized government.
• Works based on a general consensus but without a third party.
DECENTERNET
“Dnet architecture provides a software-defined solution that adds more default transparency, ownership of data to its users, elimination of profit extortion by intermediaries, the proliferation of suppressed knowledge by inducing a default open source environment for its components such as search engines and OS”. – Sean Kim
Like I wrote in my previous post, Decenternet is a complete ultra-fast Peer to Peer distributed internet ecosystem created using the blockchain technology for privacy, safety and decentralization
You can read more about this in my previous post
Decenternet Solution Approach
Decenternet aims at solving a lot of problems/challenges faced in the internet world which includes:
• Creating a decentralized internet infrastructure that allows the limitless access to information
• Allowing freedom of speech through identity protection
• Correcting the current monopolized internet structure by establishing a hyper-speed, non-cosmetic physical decentralization of data storage and retrieval owned by no government affiliation.
• Creating a non-inflammatory and transparent crypto economy with a solid foundation based on information, the worlds most valuable resource
• Decentralization of the current centralized mining activity and political power in the crypto-economy.
• Eliminating the middleman, thereby creating a Peer to Peer end chain transaction.
Similarities between Decenternet (DNet)blockchain and Bitcoin blockchain
• They are both decentralized network. This means no one can lay claim as it is based on a peer to peer (P2P) network.
• Decenternet blockchain and Bitcoin blockchain is accessible by anybody who is part of the network
• Data recorded on the blockchains are irreversible as they are recorded on the blockchain
• Inbuilt payment gateway for e-commerce, eliminating the fiat method of payment
• The currencies are resistant to inflation since both Spyce and Bitcoin are mined.
• You do not have to trust the individual in the system but instead, trust the system as there is no third party.
Why Decenternet Is Better Compared To Other Cryptocurrency
• The attempt to decentralize the internet in the past is still in the hands of centralized companies as it relies on centralized storage. Decenternet uses the proof of reliability (POR) protocol as the data are stored in millions of diversified computers that are approved.
• Mining spyce is environmentally friendly since it does not produce heat.
• It also does not require the purchase of ASIC (application-specific integrated circuit), therefore it is cheap and can be done by anybody provided there a computer, Internet accessibility, and enough hard disk space.
CONCLUSION
Decenternet is the best blockchain technology currently as it is fast, secure and decentralized, compared to tradition blockchain technology that are slow and takes time to confirm a transaction, Decenternet is fast and reliable.
Stay tuned to my blog as i will be bringing more interesting writings about Decenternet (DNET).
I know you want to know more about Decenternet, you can visit their whitepaper and social media channels for more information and updates.
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Decenternet whitepaper
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