Blockchain Trilemma....#006

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As we know already in this ongoing discussion about blockchain trillema that this is an important issue currently facing blockchain network.

Most popular blockchain like bitcoin and ethereum, this blockchain choose security and decentralization which affects it's scalability that's the transaction speed and for ethereum often making the cost of transaction to be expensive.

I have written at length about this issue and still on it, I will likely like to continue from my previous discussion on this topic.

We have seen what blockchain trillema is and also we have also seen what happens when a blockchain is not scalable, secured or decentralized of which am currently discussing.

So today I will continue from where I left off last time, which is what really or how is a blockchain affected when is not decentralized.

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What Happens When A Blockchain Is Not Decentralized

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1) Lack of Community Involvement: Another bad side of having a blockchain which is not decentralized is lack of community involvement.

When a blockchain is decentralized the community is usually made-up of huge and diverse individual whose contribution actually matters and whose say is being heard unlike in a centralized blockchain.

When a blockchain lacks decentralization or rather when a blockchain ia centralized there isn't much community contribution if there is then it will be very limited to none at all.

2) Limited Use Cases: When a blockchain ia not decentralized it makes it has less usecase, in what way?

Ofcourse that doesn't mean centralized blockchain doesn't have any usecase at all but their usecase will be limited and suitable only for some cases, which is to say if it's an application which requires censorship resistance or security or trust they wouldn't be of any use.

In summary for a blockchain to have a usecase which requires trusting the blockchain, integrity, security and censorship resistance then it's gotta be decentralized.

3) Inefficiency: When it comes to handling transactions a decentralized blockchain is more likely to be efficient in transactions delivery than a centralized blockchain.

This is largely due to the fact for a centralized blockchain their is often a need to trust the central authority in charge which delays transactions because users does not have trust in the system.

So a centralized blockchain is more liable to be slow in transactions processing and even maintaining the blockchain ledge.

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Conclusion

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Decentralization is a very important need and feature of any blockchain network, it's importance it's utmost as there are a lot of dangers that spans from having a centralized blockchain.

To guarantee trust, integrity and security of a blockchain then that very chain has to be decentralized, it's a core need of blockchain technology.