Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Articles about Cryptocurrency => Topic started by: felixesteban on June 04, 2018, 02:10:29 AM
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The existence of decentralised technology and cryptocurrencies can be considered as proof of society’s demand for decentralisation, as well as demonstrating the possibility of a new paradigm of financial systems and investment models. It is also conceivable that decentralisation may become a vital factor for the future prosperity of nations.
There currently exists many examples of centralised financial systems, supervised and led by regulators, which are closed and wholly controlled within their own ecosystems. Today, we can see an entirely new philosophy coming into play. It is a philosophy which demonstrates the possibility of the existence of a system that is not controlled by anyone, that is completely open and, moreover, is entirely secure. This is potentially what the future will look like.
As we look at it today, the Bitcoin network has scores of both benefits and drawbacks. Among the latter, we can list the transaction speeds and fees, pseudonymity, the high risk of criminals gaining access to accounts, transactions designed to be irreversible (this can be a problem where a transaction is made by mistake), and several further issues. Many of these problems are due to the technical setup of the Bitcoin network, and are already in the process of being addressed. One such solution is the introduction of the Segregated Witness (SegWit) protocol, implemented in February 2018, which was intended to provide protection from transaction malleability and an increase block capacity. But despite these difficulties, and quite apart from the increased interest in Bitcoin itself, other factors are prompting Bitcoin’s growing value and focusing mass investor attention on the world’s first cryptocurrency.
Read more:
http://thefintechtimes.com/a-clash-of-two-philosophies-centralised-vs-decentralised/
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Each to their own, but i prefer to go with decentralised. If i wanted a central system then i would simply stick with real money in the bank rather than go through the hassle of learning about crypto