Six Myths About Ethereum Decentralization

Myth number one. Decentralization is a distributed network

Myth number two. Blockchain is resistant to errors

  • Architectural decentralization: how many PCs in the network, how many of them can fail to keep the system running steadily?
  • Political decentralization: how many people or organizations control the computers that make up the system?
  • Logical decentralization: Does the data structure resemble more like a single whole or is the relationship between individual objects? If you cut off half of the system (including both providers and users), will it continue to work?
  • The complexity of collusion. Participants in a decentralized system are unlikely to be able to conspire with each other to influence the development of the system together.
  • Resilience to attacks. It is almost impossible to disable the entire system, while in centralized networks it is enough to attack the central point.
  • Error resistance. The probability of an accidental failure is reduced to zero because many computers provide uninterrupted operation at once.

Myth number three. The Ethereum network is protected from various attacks

Myth number four. Mining pools conspiracies are impossible

Myth number five. Only the owner of the crypto wallet has access to his funds

Myth number six: Ethereum network cannot be manipulated

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Blockchain enthusiast developer and writer. I love video games, blockchain and the hot symbiosis of these two worlds.

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Jeffrey Hancock

Jeffrey Hancock

Blockchain enthusiast developer and writer. I love video games, blockchain and the hot symbiosis of these two worlds.

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