Chapter 2. Decentralization

Decentralization is not a new concept; it has been used in strategy, management, and governance for a long time. The basic idea of decentralization is to distribute control and authority to peripheries instead of one central authority being in full control of the organization. This results in several benefits for organizations. such as increased efficiency, quicker decision making, better motivation, and a reduced burden on top management.

In this chapter, the concept of decentralization will be discussed in the context of blockchain; the goals of both are similar, whereby no single central authority is in control. Methods of decentralization and routes to decentralization with some examples will also be presented. Also, the decentralization of the blockchain ecosystem, decentralized applications, and platforms for decentralization will be discussed in detail. Many exciting applications and ideas emerge out of the decentralized blockchain technology...