Questions tagged [decentralization]

systems, such as Bitcoin, that lack any single central authority to validate their operations and which have to use other means to determine the validity of operations.

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75 views

Can satoshi nakamoto change bitcoin

If I understand correctly, Satoshi Nakamoto (or any cryptocurrency creator) can change things in Bitcoin, like supply limit, halving, etc. My question is: How is Bitcoin decentralized if Satoshi ...
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How does the blockchain resolve arbitration issues?

I understand that a bitcoin wallet is nothing but a transaction record performed on the block chain. How are transaction details updated in the decentralised block chain? In a centralised system a ...
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4answers
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Why does every “defi” thing only support garbagecoins and never Bitcoin?

I swear, I seriously feel like I've already gone insane and I can't even trust my senses at this point. I've been chewing through website after website listed as "defi", repeatedly finding ...
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Why does “Hodl Hodl” not seem to… support Bitcoin? [closed]

After listening to this podcast, I got extremely excited for Hodl Hodl: https://www.youtube.com/watch?v=hJe7LIZ6cdI But then I went to their site and see this: https://lend.hodlhodl.com/offers/lend ...
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Assuming a decentralized exchange like this, wouldn't this basic logic guarantee profits every single day?

Let's say that Bisq releases their API (which seems imminent) tomorrow. Now, we can automate talking to Bisq to trade between Bitcoin and whatevercoin. If I do the following: Manually put 0.01 BTC ...
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63 views

Can somebody please explain “defi” and “Bitcoin lending” to me as if I were 8 years old? [duplicate]

Suppose I own a few Bitcoins. Yay. Super lucky me. It's just that I can't actually spend them, or I won't have them anymore. Enter "defi" and "Bitcoin lending"... allegedly. I've ...
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2answers
128 views

Does Sovryn really not allow you to use it if you use Bitcoin Core?

https://live.sovryn.app/ This is apparently what Sovryn consists of. Not a downloadable application, but a website. It's very confusing, and so is its FAQ. When I click the "Engage Wallet" ...
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1answer
164 views

How exactly does “Lend at Hodl Hod” work?

I've read though this carefully: https://lend.hodlhodl.com/faq/basics It is extremely confusing. It seems as if, to borrow 1000 USDT or whatever, I have to first register an account (e-mail address on ...
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Is there such a thing as a decentralized stock market desktop application, in concept similar to Bisq?

Please note that I've already visited thousands upon thousands of slick websites with fuzzy claims about being "the future of money" and I consider them all to be vaporware at best, and ...
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1answer
58 views

How can I earn an income from my bitcoins without revealing my identity or relinquishing control of my bitcoins? [duplicate]

I have some Bitcoin. I don't want to part with them, but I need an income. I'm trying to have it so that, somehow, my Bitcoins generate a small sum monthly in fiat, to my bank account. While going ...
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2answers
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What stops an attacker from crippling the Bitcoin network?

An individual (or government) who wants to bring down the Bitcoin network could conceivably broadcast a ton of junk/illegitimate transactions to the network thereby consuming the bandwidth and ...
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1answer
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Does spy mining negate the harm caused by big blocks on decentralization?

In the question Do larger blocks make it harder for smaller miners to compete? Why? there are some reasons given for why larger blocks hurt smaller pools. Is this still the case with spy mining? Spy ...
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Is there any way to trade without photo id before Bisq introduces its API?

I know that the Bisq developers are "working on it", but v1.5 was just released today and still not a sign of it. I'm growing ever more impatient. While I like Bisq, and understand that it ...
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1answer
92 views

Is the Bisq API finally “live” now or what?

For many years now, I've been waiting for Bisq to implement its damn API so I can begin trading (between crypto currencies, since automation is impossible with fiat). Today, I again did a "round&...
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Bitcoin users limit

How bitcoin handle users limit if only 4000 transactions in every 10 minutes ? Let's say I transfer 2 bitcoin to Anuj account then how much time maximum it will take to reflect in Anuj's account and ...
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Is there actually such a thing as “blockchains” being used right now for actual things? [closed]

In the last few years, I've heard "blockchain" and "blockchain 2.0" and many other such buzzwords repeated so many times that I'm beginning to wonder if I've missed out on ...
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1answer
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Can you have a cryptocurrency with a single source of truth?

Can you have a cryptocurrency that's based on TRUST? (how dare I use this dirty word haha) Everyone who participates in the system agrees to trust this 1 party only, because they find them trustworthy....
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2answers
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Automated decentralized exchange between bitcoin and similar currency? [closed]

I want to create a cryptocurrency that's backed by bitcoin, that's running on it's own different blockchain and consensus algorithm. Is it possible have a decentralized exchange between bitcoin and ...
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Can one consider that the interest of other actors/stakeholders would change something about the concept of “blockchain”?

I am new to the Bitcoin world and am trying to get an overview within a research project. I see that Bitcoin was born out of a certain motivation to decentralize money and that decentralization, open ...
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1answer
184 views

How do miners communicate in Bitcoin/ Decentralized Network?

1.)If there is no central authority maintaining database how miners differentiate among other miners. 2.)Do they have there own database which have details(Mac/IP address) of neighbouring miners . 3....
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2answers
146 views

Why is it important for individuals to be able to run their own nodes?

I understand that the more people that can run their own node supports decentralization, but if miners are sufficiently decentralized what is the threat of users not being able to run their own nodes?
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1answer
102 views

Why is there no decentralized Bitcoin trading API?

Since nobody has answered me the last 30 times when I asked for decentralized Bitcoin trading APIs, I can pretty safely conclude that it just doesn't exist. So that's why I now ask why this is. Don't ...
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What are the chances bitcoin big mining pools to unite and do 51% attack?

Looking at this bitcoin hash rate distribution chart (https://www.blockchain.com/en/pools), it only takes 3-4 mining pools to unite and do a 51% attack. With this possibility, how can people still ...
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6answers
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Is proof-of-work required in Bitcoin?

It seems that the rationale behind the proof-of-work requirement in Bitcoin is that it creates trust in a decentralized trustless network by: helping to reach consensus on which version of the ...
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Looking for whitepapers on pool-resistence mining

I have seen several cryptocurrencies list the feature of decentralization of mining through ASIC-resistance and pool-resistance. However, I have not yet found any whitepapers which explain how the ...
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1answer
362 views

Can someone please explain how Lightning paths are working and what effect large centralized hubs have?

Can someone please explain how Lightning paths are working and what effect large centralized hubs have? Dear community, I have read some stuff about lightning and i am really interested to ...
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Proof for “Is an immutable, decentralized blockchain possible without economical incentives?”

Bitcoin is immutable because of economical incentives. Those who are able to 51% the network can't do it, because it'll result in the value of the currency to drop tremendously, which causes waste of ...
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595 views

Is there any benefits to a distributed computing architecture outside of cryptocurrencies?

I was recently talking to a German start-up that was in an accelerator programme. They are building a product which is a distributed database that they are proposing will have efficiency benefits over ...
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1answer
318 views

Removing “hub-and-spoke” property of Lightning Network?

Lightning Network is based on this idea: "Near-zero fee transactions with hub-and-spoke micropayments" (Link to the article) proposed by Peter Todd. An article entitled: "Mathematical Proof That the ...
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1answer
94 views

How does Bitcoin use its communication protocol and its database model?

In terms of Bitcoin's communication protocol, how does Bitcoin allow nodes to communicate between each other? Is Bitcoin's communication protocol the same as IPFS(InterPlanetary File System) and if ...
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1answer
69 views

Implementing an “ad-hoc-like network of payment channels” on top of Bitcoin network?

If we define an ad-hoc network as follows: "An ad hoc network is a network that is composed of individual devices communicating with each other directly." [1] ad-hoc networks do not rely on ...
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1answer
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Is routing approach of Bitcoin Lighning Network “decentralized” and “trust-less”?

From the Bitcoin Lightning Network: it is possible to find a path across the network similar to routing packets on the internet. Is routing approach of Bitcoin Lighning Network performed in a "...
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147 views

Why can't an ISP ban access to a blockchain network? [duplicate]

I read that blockchain sits on top of the internet and is decentralised. We still have to access the blockchain network via an ISP. Without ISP, we can't access the internet so why can't an ISP block ...
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51 views

Is there a decentralized zk-SNARK (zero-knowledge Succinct Non-Interactive ARgument of Knowledge)?

Normally, in zk-SNARK, we need to generate two public keys: one for prover and one for verifier. However, the input parameter of this generator algorithm must be secret, meaning that it must be hidden ...
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4answers
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Is blockchain always “public”?

Is the following definition of blockchain by its wikipwdia page correct? Where it is mentioned: A blockchain is a decentralized, distributed and public digital ledger ... Cannot we have a ...
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1answer
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“Centralized Relational Databases” vs. “Decentralized Blockchain ” : Which one is really more scalable?

There are many research papers on problem of scalability of blockchains: Just as an example : An Overview of Blockchain Technology: Architecture, Consensus, and Future Trends However, (usually by ...
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“Augur” vs. “Oraclize” : What is the main difference? [closed]

Can we say that "Augur" is a decentralized Oracle against "Oraclize" as a centralized model?
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1answer
107 views

Other people mining my coin without my permission, how to avoid this? [closed]

I have created an altcoin and i wanted to solo mine all coins myself. I disabled generate function in wallet, hidden the source code as private in github. I run one main node and i mine in my laptop. ...
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2answers
188 views

Is it logical to use “Proof-of-Authority” for a “public” blockchain?

According parity.io website: Proof-of-Authority is a replacement for Proof-of-Work, which can be used for private chain setups. And also: The chain has to be signed off by the majority of ...
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1answer
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Ripple validator nodes

Are ripple validation nodes appointed by central authority? If not, what prevents 51% attack through validator nodes? Why ripple.txt file contains validation nodes list? Who maintains this list? What ...
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2answers
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Why can't Bitcoin transactions be stopped like SWIFT transfers?

As I know, most BTC hacking happens at digital wallet (but in blocks). I believe the hacker use normal BTC transaction to transfer those stolen BTC to other block addresses. Why can't we stop the ...
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2answers
191 views

Is it possible to get rid of mining pools and therefore get a truly decentralized bitcoin?

There are some criticism that PoW of bitcoin and ethereum protocol suffers from the centralization of mining pools, and dPos such as EOS claimed to be more decentralized in practice than bitcoin and ...
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1answer
86 views

Are Bitcoin and Ethereum really de-centralized? Or is federated a better term?

By looking at the bitcoin and ethereum mining pool hashrate distribution I feel that only 5-10 relevant full nodes exist. So it's more like a federated system among those. Am I seeing something wrong ...
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3answers
245 views

What are the tangible benefits of decentralisation?

What are the tangible benefits of decentralisation? This question was posed to me by my parents. Under that this question might incur a lot of wrath from this community. When my parents lose their ...
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187 views

Is it possible to create a Dapp on top of Bitcoin?

Is it possible to create a dapp on top of bitcoin similar to how it can be done with ethereum? Can it be just as capable as ethereum?
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1answer
314 views

Is Bitcoin centralized by mining pools?

Before going to my question, I want to make sure the difference between a full node and a miner. Below definition might be too simple, but it is enough to ask my question. A full node is to store ...
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1answer
83 views

When or how does one becomes a part of Bitcoin P2P network

I am new to bitcoins and got a question raised in my mind recently. I learnt that every person doing a transaction is a node in btc p2p network and that when he/she joins the network he/she gets a ...
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177 views

Even though Blockchain is tagged as “ Decentralized”, wouldn't the organization actually implementing the Blockchain like Ethereum control it?

For example, If I were a business that would want to use the Ethereum Blockchain technology to shift my business to Blockchain, wouldn't Ethereum be in control of the actual underlying Blockchain ...
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0answers
713 views

The idea of Blockchain compression [closed]

Bitcoin's blockchain is large. By accident, I discovered a way to reduce it (on the disk), but I wonder why it was not implemented by someone else. I wrote a short documentation here: http://194.28....
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Assumed, I hash the next bitcoin block. Whom do I tell if it's decentralized?

The bitcoin network is decentralized, right? Assumed, I do hash a little bit and get a hash that starts with 20 Zeros.. What do I do than? I need to send the block to someone but who is that? It's ...