Written by KomoDeFi Editorial Team on October 14, 2022

Decentralization & Why It Matters?

We the consumer in this web3 world are told that it democratizes access to participation, influence & opportunity. In this video by Verus community member @creativeninja, the points of centralized components of the decentralized world are highlighted. And it begs the questions of which mix of decentralized function is ok?

The transcript from this talk is available at the KomoDeFi transcripts repo on github.

Decentralized Token Distribution & Centralized Infrastructure

In the talk, Bradley mentions Infura, Alchemy & MetaMask as examples of dApps that run on centralized infrastructure. The article about blockchain nation states linked in the opening paragraph cites BNB Chain as this centralized infrastructure, but decentralized token distribution.

A network can be decentralized when it comes to its token distribution but at the same time run on a centralized infrastructure. Binance Smart Chain is a good example of that.


Decentralized Nodes & Centralized Governance

Governance means different thing to different parties, but tackling the blockchain governance problem is being done by multiple projects. In my experience with the Openfood Chain, the governance is centralized around the industry consortium by forming a governing foundation.

Another network could be decentralized when it comes to number of nodes and physical locations of nodes, but centralized when it comes to governance. Cardano is a good example of that model.


Fair Launch - No ICO - No Premine Decentralization

Bradley states:

consider Bitcoin the most well- known Fair launch blockchain protocol it had no Ico no pre-mine no VC company backing and no Founders funds


The Verus Coin project also started in the same spirit. As a no-code solution for creating blockchains, the launch of the PBaaS mainnet approaching, decentralization for future projects has a bright future.

Future Decentralization

With some 15,000 discord users, it is the most number of possible users for further decentralizing new applications and protocols.

Paraphrasing what @creativeninja says of the former CEO of Twitter @jack opining for:

it's critical we focus our energy on truly secure and resilient Technologies owned by the mass of people not individual not individuals or institutions only that foundation will provide for the applications


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