Is Decentralized Cryptocurrency Any Better?

Is Decentralized Cryptocurrency Any Better?

Technology
September 14, 2018 by Raj
10
The whole madness about Cryptocurrencies and their underlying technology, which has taken the financial sectors across the globe by storm, is largely attributed to its decentralized system. Cryptos, since their arrival has proven to be what, many investors had been yearning for. Aside investment and a whole other lot of goodies, many crypto investors seem to
pros-cons

The whole madness about Cryptocurrencies and their underlying technology, which has taken the financial sectors across the globe by storm, is largely attributed to its decentralized system. Cryptos, since their arrival has proven to be what, many investors had been yearning for.

Aside investment and a whole other lot of goodies, many crypto investors seem to get themselves in the crunch tension between decentralization and centralism in the crypto world.

Is Decentralized Cryptocurrency Any Better?

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The decentralized fantasy to many has been the ideal package for many investors, freeing them from all sort of value-draining entities which has been eating them up in the form of government, middlemen, third parties, central powers and more.

These problems, have been around for quite a long time and left an undesirable impact on investors and the financial sector as a whole. Government interference, for example, guaranteed a total meddling by governments, which most of the times, led to the devaluation of many fiat currencies, making investments made by investors, go down the drain just like that.

Although many centralized cryptocurrencies aren’t controlled by the various governments, just the mere thought of someone, some people, or something controlling it, is a major turn off for many investors, who can’t trust putting their assets in the hands on an unknown identity.

The concept of decentralization is the main thing which has attracted all these hatred and doubt to cryptocurrencies since they have the potential to vaporize the business of the traditional financial firms.

Also read: Fujitsu Announces a Rapid Blockchain Technology

Decentralized cryptocurrencies also allow direct transactions directly from one individual to the other, which is almost the same with centralized cryptocurrencies, but then, the idea of a third party offering assistance or controlling or even overlooking the transaction, comes to play here.

Is Decentralized Cryptocurrency Any Better?

One of the main thing crypto investors like about the market is the anonymity and absolute freedom they get to enjoy, so risking it all together again in the crypto world, seems unreasonable for many of them.

When it comes to cryptocurrencies, it all boils down to preferences and adequate knowledge, but when all cards are being pulled out, decentralized cryptocurrencies seems to have an upper hand on centralized ones, due to the basic concept behind it.

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