Re:Facebook reveals its cryptocurrency Libra
by kolinko on Tuesday June 18, 2019 @03:40PM
(#20217486)
You may be confusing permissionlessness with decentralisation.
A system can be decentralised and permissioned at the same time.
Re:Facebook reveals its cryptocurrency Libra
by jpmattia on Tuesday June 18, 2019 @03:58PM
(#20217717)
Fine, add that to my spec sheet above:
Need to ask an authority for permission to do something within the system? Not decentralized.
Re:Facebook reveals its cryptocurrency Libra
by quest88 on Tuesday June 18, 2019 @04:08PM
(#20217836)
No, the white paper explicitly states that plan to phase this out.
Re:Facebook reveals its cryptocurrency Libra
by jpmattia on Tuesday June 18, 2019 @04:19PM
(#20217946)
Fine, add that to my spec sheet above:
Need to start your system with requirements about asking permissions? Not decentralized.
At some point, we need to recognize that playing games with the system so that Marketing can use the word "decentralized" does not change the meaning of the word.
27 entities? Not decentralized.
$10M fee to run a node? Not decentralized.
Anyone can run a node from their computer? Decentralized.
Blockchain validity is determined by mass consensus? Decentralized.
51% of the hash power is considered an attack rather than a feature of the system? Decentralized.
Edit: Removed item about forking. That's probably more about decentralized governance than decentralized currency.