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RE: Why #Steemit prevails where Ethereum fails

in #money8 years ago (edited)

Thanks for your response.

I would agree, but I have found that several of these businesses being built on ETH's decentralized network don't really need to be decentralized .

Trust isn't really an issue in many of these cases (generally because regulation acts as a crutch to insulate them from this security hole), and so the scaling trade-off is worse.

Decentralization appeals to a general minority of people who are either concerned with general data security and privacy, or live in intrusive countries (generally defined).

The only cases where it is truly required as far as I can see are in cases where the degree of intrusiveness by the state is high. So for online gambling in some parts of the US or in Singapore. And in most countries for the purchase of drugs.

But then ETH wouldn't be decentralized enough to protect the privacy of the users.

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