Decentralization

Description

Alexander Lange:

"By using the term “decentralization” I refer to a process of redistributing functions, people, powers or things away from a central authority. The problem with centralized systems is that they lack transparency, allow for single points of failure, censorship, abuse of power and inefficiencies. The fundament of their existence often is missing trust within communities or networks, so they need a trust building intermediary to be organized. Paradigm shifts towards decentralized systems are enabled by new technological breakthroughs (i.e. blockchain, cryptography, consensus mechanisms), a rapidly growing developer community as well as new ways of raising capital." (https://medium.com/birds-view/mapping-the-decentralized-world-of-tomorrow-5bf36b973203)