What Does Decentralization Mean To Me? | Initiative
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Hello there guys @josediccus here, today I'd like to diving into this initiative brought by @theycallmedan and I'll like to talking about decentralization and blockchain from my point of view,I do believe that each and every person will define blockchain and decentralized in different ways and so I'll like to do this also from my point of view. However before I go ahead I'll talk about what a decentralized blockchain community may look like before going on to talk about what decentralization and blockchain is.
A Community
A community, a steem community is an heterogeneous set of people with different perspective, opinion and mindset different approach and view towards things like investment and content and bound by a borderless blockchain with selected and elected governance
So What Then Is Decentralization?
In essence decentralization to me means bringing down functions to the barest minimum or what we call grassroot it means giving power to a community or a set of people rather than a singular entity. Decentralization got it's origin from ancient Greece where it was thought that governance should be something everyone should participate in and it means each and everyone can contribute a particular stake which should make up an entity.
To me, decentralization means collective ownership. It means a transfer of function from one person to another In a chronological pattern in a way that doesn't seem unfair . It however means that the contribution of each individual in a setting matters a lot. A blockchain is said to have the characteristics of decentralization because it's not controlled, it's immutable, transparent and translational and each and every member of let's say a sophisticated blockchain as steem can affect the full functionality of it's performance and well this brings me to the meaning of blockchain; according to me:
Decentralization is the strength of a singular entity in a group now when I say singular entity in a group this means having the ability to be counted in as much as there's the presence of two million people contributing. One thing about decentralization is that there's no minority provided you're a recognised member of a group possessing some particular feature like the will to make impact this can also be inform of relating, communing, transacting and building.
is a dispersed ledger that records and tracks transactions and of course open to each and every person on a particular network. The main features of a blockchain are the data, The Nodes, miners and the token and actually a blockchain is characterised by the transparency of transactions which is made public to the users of a blockchain
An attempt however to centralise a blockchain is like destroying the whole purpose why a blockchain exists and that's why a major overthrow of a governance on the bottom blockchain can actually change the essence of a blockchain. We can't however not mention blockchain without talking about decentralization. I really do not know how other blockchain functions but in emphasis, the Steem blockchain is a community of people and there are front ends like steemit.com that is built on the steem blockchain.
So Why Is Decentralization Decentralization Important?
Decentralization is important because it doesn't just represent freedom, in blockchain it represents transparency and it's the only way through which a community can be built. It's important that a singular entity doesn't hold a singer responsibility for a group of people because of the imminent abuse. There's a prone for corruption if power is not shared and when there is collective contribution and collective ownership then each individual will work towards protecting a place and because of decentralization, individual goals in collectivity is the reason for the success of an entity and that's why when you look at companies, countries, firms and organisations, decentralization is the key to their success because interdependence and co-functionality.
In addition decentralization fosters check and balance
This is one highest points that makes decentralization at all level to be preferable than other kind of systems. Check and balance means having check and balancing of power of functions of various entities in a decentralized system and most important, a blockchain is a connection and like I said earlier the biggest feature of a blockchain is decentralization and that's we can't talk of blockchain without decentralization.
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My name is @Josediccus, a young Nigerian student who is a Dtuber, 📷 Psychologist, Poet And Sports Writer/Analyst. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off steem can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
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