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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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2answers
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Why are banks and other centralized entities interested in block chains?

Apparently banks and other centrialized entities are interested in block chain technology. My question is, why? The whole point of block chains is for decentralized, trustless, consensus. Bitcoin, ...
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2answers
2k views

Do mining pools centralize the Bitcoin network and make it less secure?

A mining pool with a significant percentage of the hash rate could allow double spend attacks by the pool manager. There are a number of pools that approach this level. However, most people say that a ...
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2answers
458 views

Decentralized transactions between two decentralized currencies

Currently, bitcoins and namecoins are implemented using the Bitcoin protocol. And there might be several reason for new block chains to appear, but this is not the subject here. As far as I know, ...
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4answers
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Decentralized escrow functionality built into Bitcoin?

AFAIK there are a few websites out there that offer escrow services for Bitcoin. Those however are central, i.e. I have to "trust" them. Is it being discussed, is it theoretically possible, or does ...
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4answers
955 views

What can be done to slow/prevent mining centralization?

Assuming all buyers have access to the same ASICs (ignoring that ASICs developers and manufacturers will always have the latest first, even if only used for "testing" prior to sale) energy costs would ...
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1answer
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What is the P2Pool?

As I was checking this SE, it doesn't appear this important question has been asked: What is the P2Pool? How does differ from the traditional approach and what does it offer its users?
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1answer
107 views

Bitcoin node Decentralization

Is the number of independently owned and operated full Bitcoin nodes more important than the total number of full Bitcoin nodes with regards to Decentralization? Assuming the answer to the above ...
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4answers
4k views

Is there any centralized cryptocurreny?

Is there any centralized cryptocurrency? Is cryptocurrency a Bitcoin oriented concept only? From what i read almost all of the cryptocurrencies are derivatives of Bitcoin.
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2answers
457 views

Are the bitcoin miners decreasing in quantity and increasing in size?

From what I am learning about bitcoin, the mining process is becoming exponentially difficult and hence exponentially more expensive (or at least more expensive), as people need more physical ...
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2answers
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What security threats does blockchain technology solve or present?

I am interested in security, identity and authenticity in electronic networks. What sort of security concerns could blockchain technology help with and what sort does it pose? Are there entry and ...
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1answer
53 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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0answers
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Does Stratum cause mining to be more centralized than getBlockTemplate would?

I read the question "I don't understand the "51% attack" problem. Why does a mining pool have power with a 51% share?" and its anwers. That made me wonder that since the GBT protocol is ...