Why decentralization is a "Spectrum"
Most people think decentralization is either "on" or "off" in crypto, like a light switch. But girl, it's actually more like a dimmer, with so many shades in between! 💡
Imagine planning a party. You could have one person make all the decisions (super centralized), or everyone could vote on every little detail (super decentralized).
In crypto, decentralization is how power and control are spread out, meaning no single entity holds all the cards.
But here’s where it gets confusing 😵💫: many projects start with some centralized elements, perhaps for efficiency or to get off the ground quickly.
We often jump to conclusions, thinking, "Oh, it's centralized, so it's bad!" without understanding the journey.
Therefore, it's not about being 100% decentralized from day one, but about a gradual journey towards more distributed control.
Think of it as a "spectrum" - from fully centralized (like a traditional company) to a completely community-governed.
Understanding where a project sits on this spectrum helps you see its current state and its future potential.
So, the big takeaway is to look for how a project plans to increase decentralization over time, not just if it's "there" yet.
Now you get why projects aren't just black or white ✨
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- Disclaimer: Sharing knowledge and insights as part of learning and growing together. For educational purposes only, not financial advice.