Decentralization
Decentralization has been the magic mantra of millions of Blockchain believers across the world as the technology has gained in popularity over the years. Thanks to the scalability trilemma that we discussed earlier in this book, decentralization often seems to be an obstacle to achieving commercial scale. Where scalability has been achieved by Blockchain, decentralization has often been traded off, making it an elusive utopian idea that we all want the world to move towards.
However, decentralization does have its advantages. Over the years, we have all gotten used to client-servers systems, where most of the data is stored on the server. The challenges with this architecture are that:
- The server that holds most of the data is an easy target for cyber criminals. Hacking a centralized system to get hold of critical information is easy. There have been several instances where banks have been hacked and millions of clients' data was lost...
