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Barringston's avatar

I think the internet will be one of the most important forces reducing the role of the state.

Overall, Bitcoin has cornered private companies and governments to innovate in electronic payments.

In this direction, counter moves and propaganda have developed and it is clear that the winner is Bitcoin.

over time all

private companies, governments and people will believe that Bitcoin is freedom

You may have witnessed many records being destroyed accidentally or intentionally before.

Bitcoin completely eliminates this in its decentralized network. This means you are completely free.

For example, you are in the following position in a structure with central authority.

For example, you have earned your money, your money is in the central banking system, we are in this situation, there is a person at the top and our money is in his hands, he can change or destroy it as he pleases. .

Nobody wants this to happen, so this privilege that Bitcoin provides is very important.

Get on the innovation ship now or you won't find it on the ground in the future.

Thanks for the article.

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Sezgin25's avatar

What Does Decentralization Provide?

The concept of decentralization, with the blockchain and Bitcoin, whose foundations were laid much earlier and entered our lives with the creation of the initial block by Satoshi Nakamoto in 2009, also found a place on our agenda. In this article, we have summarized in this article what is decentralization or decentralization or decentralization, which means in its most basic and simple form, distribution of responsibility, not being managed from a single center, why it is important and examples of real-life applications.

The decentralization of the blockchain means that it is not directly connected to a central element such as a government, company, individual or organization, and the decision-making and control mechanism is distributed over a network. In this way, no one has authority and control over the network and the transactions of the individuals using the network.

Decentralization is not a stand-alone structural feature of the Bitcoin blockchain. It is included in the classification used in network architecture in the software world as centralized, decentralized and distributed. For example, although the blockchain itself is a decentralized structure, a developed blockchain application can have both a distributed and decentralized architecture.

Let's also talk about the benefits and advantages of the blockchain, which is considered a technological revolution as much as the internet itself, and the decentralized structure of Bitcoin, which provides a financial transformation.

The necessity of a central element has also emerged because it provides trust and controls at some point. With blockchain, no one needs to know and trust anyone else. Everyone involved in the blockchain will have a distributed ledger with the same transaction record. Even if only one person's ledger, that is, the data in the blockchain software on his computer, is tampered with or is cyber-attacked, this change can be rejected by the majority of the members of the network because everyone else has the same records.

Again indirectly, for this reason, vulnerabilities arising from being connected to certain components in central structures are reduced, and interruptions such as problems and system failures are eliminated.

In the blockchain, every data is shared and visible in real time. This saves time in workflows and data reconciliations.

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