Re:Why Web3?
by CryptoPunk on Thursday December 30, 2021 @12:24AM
(#29733926)
It means that everything you need to arrive at a consensus on the validity of a transaction is on the blockchain, and thus enforced by the decentralized network of nodes that validate the blockchain.
So contrary to what the grandparent comment claims, these layer 2 (i.e. scalability) solutions make no compromises on decentralization, as they would if they had a consensus-critical component that was managed by a centralized off-chain party.
So contrary to what the grandparent comment claims, these layer 2 (i.e. scalability) solutions make no compromises on decentralization, as they would if they had a consensus-critical component that was managed by a centralized off-chain party.