• Latest
  • Trending
Which blockchain is the most decentralized? Experts answer

Which blockchain is the most decentralized? Experts answer

October 23, 2021
BNB Chain releases whitepaper for new Web3 blockchain

BNB Chain releases whitepaper for new Web3 blockchain

February 1, 2023
Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

February 1, 2023
NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

February 1, 2023
The Crypto Market Cycles: A Guide to Understanding its Phases and Making Strategic Investments | by BSuccessful | The Capital | Jan, 2023

The Crypto Market Cycles: A Guide to Understanding its Phases and Making Strategic Investments | by BSuccessful | The Capital | Jan, 2023

February 1, 2023
BonqDAO protocol suffers $120M loss after oracle hack

BonqDAO protocol suffers $120M loss after oracle hack

February 1, 2023
DOGE Price Analysis for February 1

DOGE Price Analysis for February 1

February 1, 2023
Crypto Long & Short: Bitcoin’s Hedge Potential

Crypto Long & Short: Bitcoin’s Hedge Potential

February 1, 2023
MakerDAO announces a $5M legal defense fund

MakerDAO announces a $5M legal defense fund

February 1, 2023
US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

February 1, 2023
  • Privacy Policy
Wednesday, February 1, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto

Which blockchain is the most decentralized? Experts answer

J_News by J_News
October 23, 2021
in Crypto, Top News
0
Which blockchain is the most decentralized? Experts answer
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Related articles

BNB Chain releases whitepaper for new Web3 blockchain

BNB Chain releases whitepaper for new Web3 blockchain

February 1, 2023
Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

February 1, 2023

Mance is the co-founder and CEO of Hedera Hashgraph, a next-generation distributed ledger technology that claims to possess higher speeds and security guarantees than existing blockchain solutions.

“When we talk about decentralization, I think it’s very important to be specific about what we mean. When talking about layer-one protocols, precisely what is being measured when we talk about decentralization? Two separate categories of decentralization are important: 1) governance and 2) transaction ordering.

First, governance: How many different entities (people or organizations) are involved in making decisions on the product roadmap, pricing of services, payments of rewards and other governance-related decisions? Are these entities all known by name, or can they be anonymous? If they can be anonymous, then there is no way to truly determine how decentralized the governance is because the same anonymous actor may pretend to be multiple different entities. Is there an opportunity for consolidation of voting rights? For example, if voting rights are associated with a governance token, then a single actor can increase their influence by buying or earning additional tokens, which leads to the consolidation of rights and increased centralization.

The Hedera Governing Council model is exceptional among public ledgers. It consists of up to 39 term-limited organizations, chosen to represent a broad range of industries, with member headquarters around the globe, running nodes on six different continents. The council members are all publicly disclosed, minutes of the council meetings are published (and hashed on Hedera using the Hedera Consensus Service (HCS)), and each member has a single vote to ensure fairness, stability and truly decentralized decision-making. Even the LLC member agreement that companies must sign to join the council is public and hashed on HCS. This model lies in stark contrast to protocols that are governed by a small group of core developers or a single foundation.

Next, decentralization of transaction ordering: What is the minimum number of entities required to dictate the order of transactions in the network? For example, with Bitcoin, just a handful of mining organizations (often five or fewer) control more than 50% of the hashing power of the network, which is enough to dictate the ordering of transactions. (As of this writing, just three mining pools control 47% of Bitcoin’s hashing power, and just two mining pools control almost 48% of Ethereum’s hashing power). Also, if a network allows anonymous node operators, then it is impossible to know to what degree any given entity controls the hashing power of the network.

Phase 1 of the Hedera network requires more than two-thirds of its council members to agree on the ordering of transactions, and each council member currently has equal weight in their vote. Because every council member is publicly known by name, we can say for certain that transaction ordering is decentralized. This is already more decentralized than Bitcoin and Ethereum. Phase 2 will add publicly identifiable community nodes, and only after there is a very high degree of certainty that consolidation of stake is unlikely will anonymous nodes be added to the network.

The Hedera network, both in its governance model and in the technical ordering of transactions, was designed from the ground up to embody the ideals of sustainable decentralization.”





Source link

ShareTweetShareShare
Previous Post

The Ultimate Binance Review (For 2021)

Next Post

UNIFY Financial Credit Union and Five Star Bank Allows Customers to Now Buy, Sell, and Hold Bitcoin

Related Posts

BNB Chain releases whitepaper for new Web3 blockchain

BNB Chain releases whitepaper for new Web3 blockchain

by J_News
February 1, 2023
0

BNB Chain announced the release of the Greenfield whitepaper on Wednesday, 1 February 2023. The new blockchain will provide the...

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

Chainlink (LINK) Keeping Eye on NFTs, Check Out Reason

by J_News
February 1, 2023
0

Chainlink (LINK) has established itself as a premier player in the decentralized finance (DeFi) sphere on the cryptocurrency market. The...

NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

NFT Collection Cool Cats Rebrands to Expand its Reach Beyond Web3

by J_News
February 1, 2023
0

“Whether you're using our PFPs or you're attending one of our events, or you're wearing merch, that is the emotional...

The Crypto Market Cycles: A Guide to Understanding its Phases and Making Strategic Investments | by BSuccessful | The Capital | Jan, 2023

The Crypto Market Cycles: A Guide to Understanding its Phases and Making Strategic Investments | by BSuccessful | The Capital | Jan, 2023

by J_News
February 1, 2023
0

Market CyclesCryptocurrency has become a popular investment option in recent years, with many individuals and institutions exploring the potential of...

BonqDAO protocol suffers $120M loss after oracle hack

BonqDAO protocol suffers $120M loss after oracle hack

by J_News
February 1, 2023
0

A small-scale decentralized autonomous organization (DAO) has suffered a rather sizeable smart contract exploit leading to an estimated $120 million...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

Web3 vs Web2 – What Are Some Of The Core Differences?

Shiba Inu Burn Rate Surges Over 1,300% In 24 Hours

Ethereum Stakers In Massive Loss As 80% of Staked ETH Is In The Red

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT