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by thisisit
3046 days ago
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I think no one disagrees on "why" of the decentralization. Too big to fail is a problem. The real question is "how to decentralize?". How will disputes be solved in a decentralized economy? Many of the answers hover around - well, the code and game theory will take care of it. And that IMO, shows a weak understanding of human nature. Nature is unpredictable, people will find a way to overt a decentralized economy while playing within rules. A good example is mining. The manipulation of Status ICO by F2Pool: https://steemit.com/ethereum/@dhumphrey/f2pool-manipulates-u... They had only 25% ie less than 51% of hashing power but were still able to avert network rules. |
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