[elsus]

I think the main point is that the decentralization of the whole concept makes it hard for single actors to "hack" the system. Imagine 99% of people agreeing to something and then 1% starts doing otherwise. Of course they will be crushed by the majority. The same goes for 51% vs. 49%.

IMHO I see it as a tool for reaching democratic agreement on anything. The data stored in the blockchain exist only as long as the whole network exist and the majority agrees about the data. It can be basically any type of data!

Also by this logic it could be compromisable by a large enough party. Since the whole existence is based on agreement and 50/50 scenario would only further splice the two groups, each following what they think is the "truth" or "correct".

By no means I'm not an expert on this topic and anyone who has PLEASE correct my if my understanding is skewed. Thanks