Category Archives: Decentralization

Embracing Decentralized Compute: The Future of Cloud Computing – Grit Daily

We all know about the cloud and use it regularly, and in 2024, its become a necessity for most people. However, beyond our immediate use, many of us dont consider the larger picture servers, storage, databases, networking, software, analytics, and intelligence or where that collected data about us lives.

Cloud computing is the backbone of many industries, driving everything from small startups to global enterprises. Until recently, traditional, centralized cloud providers have dominated the market, but new decentralized methods are emerging and subtly becoming the new darling of the space.

The following analysis aims to inform those who rely on these powerful resources daily about the hazards of centralized cloud computing and discuss the benefits of its opposer, decentralized cloud compute, which addresses the inherent limitations of centralized systems by providing equitable and safe access to all.

The dictionary defines democracy as a system of government by the whole population or all the eligible members of a state, typically through elected representatives. We all know the word, and we generally know what it means. However, reading the actual definition highlights the defining feature of democracy very clearly: By the whole population.

In the ideal democratic society, every member participates, helps make decisions, and therefore benefits. Decentralized compute power distributes that by the whole population mentality to its users.

By leveraging a network of globally distributed data centers, decentralized compute providers ensure that power and data are not concentrated in a few geographic locations or controlled by a handful of large corporations. Sticking to the metaphor, those centralized locations and corporations running things would be akin to a monarchy.

Rather, the decentralized model ensures that resources are spread across multiple data center locations, owned by myriad groups, and this works regardless of geographic location or financial status. Full decentralization will be achieved when people are able to provide their idle devices for spare computing. However, at the moment, this distributed model with various data centers across the world is as close to decentralization as possible.

By removing the barriers imposed by centralized control, decentralized compute cloud suppliers give smaller companies and startups the same high-performance computing resources that larger enterprises enjoy, leveling the playing field and promoting inclusivity.

One of the significant advantages of decentralized compute power is its intrinsic scalability and flexibility. Unlike centralized systems, which rely on a few massive data centers, decentralized networks distribute workloads across numerous smaller nodes. This distribution allows for more efficient use of resources, as workloads can be dynamically allocated to underutilized nodes, enhancing overall system performance.

Furthermore, decentralized systems can dynamically allocate computing tasks based on real-time demand, which means resources are used more efficiently. Conversely, centralized data centers often run at full capacity, with minimum usage requirements regardless of actual demand, leading to higher energy use.

Decentralized cloud computing is modern societys answer to massive environmental issues brought on by big centralized companies. Fortified by blockchain, it represents the future of a fair and secure digital infrastructure one that does much less harm to our planet by properly taking advantage of and sharing underutilized digital resources, says Matt Hawkins, Founder of CUDOS, a blockchain network that combines cloud and blockchain technologies to provide global decentralized computing power for users and developers.

The integration of blockchain technology in decentralized compute networks ensures that information and resources are not monopolized by a single entity. Blockchains built-in decentralized nature provides enhanced security, transparency, and resilience, making it a reliable method for these networks.

Decentralized compute networks align perfectly with the spirit of Web3, which aims to create a more open and equitable internet, by ensuring that no single entity can corner computing resources or information. This alignment enhances security and transparency, promoting innovation by furnishing a collaborative and inclusive environment for developers and users alike.

Additionally, decentralized compute companies often accept cryptocurrency payments, enhancing the user experience by providing flexible payment options. This feature is particularly beneficial for users in regions with limited access to traditional banking services, as it allows them to access computing resources without relying on conventional financial institutions.

Cryptocurrency transactions can be more cost-effective than traditional payment methods, reducing overhead costs for both providers and users. This cost efficiency translates into lower prices for computing resources, making high-performance computing more accessible to a broader audience.

Large enterprises often assume that centralized cloud providers offer the most scalability and reliability. However, switching to decentralized compute networks provides additional benefits, such as enhanced security through blockchain integration and lower costs due to more efficient resource utilization.

For small companies and startups, decentralized compute networks offer a cost-effective and scalable solution that can grow with their needs. By providing access to high-performance computing resources without the need for significant upfront investment, decentralized networks enable these smaller entities to compete on a more level playing field with larger corporations.

Decentralized compute power represents a significant shift in how computing resources are accessed and utilized. By offering scalable, flexible, and secure solutions, decentralized networks provide equitable access to high-performance computing, aligning with the decentralized ethos of Web3.

Whether you run a large enterprise or a small startup, exploring decentralized compute networks provides significant benefits, enhancing your operational efficiency and company innovation.

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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Embracing Decentralized Compute: The Future of Cloud Computing - Grit Daily

Ubit Coin: Setting the Standard for Decentralized Cryptocurrencies – TechGraph

In the dynamic realm of cryptocurrencies, Ubit Coin shines as a beacon of true decentralization. With a supply of 990 million coins and integration into 11-12 ecosystems, Ubit Coin is swiftly ascending in prominence.

The pivotal aspect of Ubit Coin is its decentralized ownership structure. Ownership of Ubit Coin has been transferred to a null address, specifically 0x0000000000000000000000000000000000000000, marking it as a fully decentralized digital asset.

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This significant move to a null address highlights Ubit Coins dedication to decentralization. No single entity or individual has the authority to edit the code, modify transaction fees, block addresses, or rescue tokens. The immutability of the Ubit Coin code ensures that the rules are consistent and transparent.

Transaction fees remain stable and predictable, and the inability to block addresses guarantees that transactions are conducted freely and fairly. The trustless nature of the system, where users are solely responsible for their assets, is emphasized by the inability to rescue UBIT20 tokens.

The transfer of ownership to a null address eliminates the risks associated with centralized control, ensuring that Ubit Coin remains in the hands of its users. This decentralization significantly enhances security, making Ubit Coin less vulnerable to hacks and breaches. Users can rely on the security of their transactions and the protection of their assets.

Ubit Coins community-driven governance fosters a democratic approach, with decisions about the coins future made collectively, considering the interests of all stakeholders.

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Ubit Coins code, set in stone, provides reliability and predictability, ensuring that the governing principles do not change arbitrarily. As adoption across various platforms continues, Ubit Coins value and utility are poised to grow. The decentralized model guarantees that this growth is organic and community-driven.

Ubit Coin is leading the charge in the decentralized revolution within the cryptocurrency space. By transferring ownership to a null address, it truly embodies the principles of decentralization.

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This move enhances security and trust, paving the way for sustained growth and community-driven development. Ubit Coins fully decentralized nature sets it apart as a model digital currency: secure, reliable, and user-centric.

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Ubit Coin: Setting the Standard for Decentralized Cryptocurrencies - TechGraph

Bringing blockchain to governments and enterprises, as explained by BCGs Tibor Mrey – CoinGeek

At the London Blockchain Conference this year, Tibor Mrey delivered a keynote address on enterprise blockchain adoption. CoinGeek Backstage caught up with him on the sidelines of the conference to discuss blockchains progress within big businesses and governments.

Mrey is a managing director and partner at the Boston Consulting Group (BCG), the worlds second-largest management consultancy.At BCG, he leads the firms Web3, IoT, and extended reality divisions.

For the longest time, blockchain has been pushed as a hammer looking for nails. Those times are over, Mrey told CoinGeek Backstages Kurt Wuckert Jr.

Mrey believes that for blockchain to break through in the enterprise world, developers must focus solely on the challenges they seek to solve, not the sideshows.

Satoshi launched Bitcoin as peer-to-peer electronic cash to fix the broken model relying on a few intermediaries. Mrey believes that this vision is still alive today as the challenges that plagued the world in 2008 are still prevalent today.

However, blockchain has emerged as an even bigger opportunity, and enterprises are warming up to Web3, he told CoinGeek Backstage.

Mrey also delved into the debate on whether there will ultimately be one chain to rule them all. Today, thousands of chains exist, with most being ghost towns that process a handful of transactions.

I dont think there will be space for 5,000 blockchains, Mrey says.

He believes that most of the chains without utility will either collapse or consolidate in the future. However, he warned against blockchain tribalism and trying to pull each other down.

Its really about convincing businesses around the true value you can unlock.

Decentralization, misconceptions, and learning from Facebook

Blockchain is rife with misconceptions, some pushed by people who dont know better and others by people with agendas. Many have impeded the adoption of technology, especially at the enterprise level.

As a management consultant, Mrey faces hundreds of top-level executives annually who believe these misconceptions and has embarked on a campaign to educate key decision-makers about blockchain.

He told CoinGeek Backstage that he has found the best approach is to avoid the sideshows and go straight to where the value is.

Working with governments and big enterprises, the issue of energy consumption often crops up. BTCs sky-high energy consumption has led many to assume that proof-of-work as a consensus mechanism is fundamentally flawed, and Ethereums migration only cemented this misled belief.

However, BSV blockchain has proven that proof-of-work can be efficient. With its unlimited block sizes, it processed over a billion transactions last year. The upcoming Teranode upgrade will further enhance these capabilities, pushing the network to over a million transactions per second.

This year marked 20 years of Facebook (NASDAQ: META), and in those two decades, the social media revolution Mark Zuckerberg sparked has brought massive benefits to billions of people. However, it has also come at a cost, including the loss of privacy, rising depression, and addiction.

As blockchain embarks on the start of its journey towards becoming a household technology, are there lessons we can learn from previous tech cycles?

Mrey believes that one such lesson is that going fast isnt always the best way. He also noted that in addition to technical concerns, users must pose philosophical questions about any new technology, starting with blockchain.

Watch: Teranode & the Web3 world with edge-to-edge electronic value system

New to blockchain? Check out CoinGeeks Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.

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Bringing blockchain to governments and enterprises, as explained by BCGs Tibor Mrey - CoinGeek

Bitcoin is the only decentralized currency, Tether CEO says – Cointelegraph

According to Tether CEO Paolo Ardoino, Bitcoin is unique among the more than 14,000 various cryptocurrencies because it is the only one that is not centralized.

Bitcoin (BTC) is the only decentralized currency, Ardoino said in an interview with Cointelegraph on June 13 at the Bitcoin-only conference, BTC Prague.

Bitcoin is the only example of a currency that is only ruled by math that basically cannot be changed, Tether CEO stated. Apart from Bitcoin, some cryptocurrencies are a bit more centralized, or others are a bit less centralized, Ardoino believes.

With the other currencies, you see that there is a group of developers that come every month. They are coming out with a new software release, they change the monetary policy, inflationary, deflationary, and they keep changing things, the executive noted.

On the other hand, with Bitcoin, there will always be 21 million BTC, and there will be a halving once every four years until all 21 million Bitcoin is mined. Ardoino stated:

In the interview, Ardoino admitted that his opinion on Bitcoins exclusive level of decentralization might be controversial. The CEO also mentioned that he openly said that Tether is centralized, unlike Bitcoin.

Additionally, Ardoino expressed skepticism about the record-breaking industry of memecoins, which is a type of cryptocurrency inspired by internet memes or trends. I like memes, but not memecoins, Ardoino said, adding that Bitcoin and memecoins are completely at the opposite parts of the spectrum.

Related: DeFi may struggle to stay decentralized after new EU law

One may indeed argue with Ardoino about the decentralization of Bitcoin versus other assets in the cryptocurrency market, as there is a whole sector in crypto dedicated to decentralized finance, or DeFi.

In the crypto industry, decentralization refers to the transfer of control and decision-making from a centralized entity to a distributed network. While the DeFi industry gives high promises on financial decentralization, some people in the industry, like Jan3 CEO Samson Mow, believe that DeFicannot compete with Bitcoin.

Ardoinos remarks on the decentralized nature of Bitcoin came amid the opening of BTC Prague 2024, where he is a speaker alongside major industry figures like former MicroStrategy CEO Michael Saylor, Blockstream co-founder Adam Back, Bitcoin author Jimmy Song and others. Unlike many industry events, BTC Prague is dedicated exclusively to Bitcoin.

Magazine: Bitcoin layer 2s arent really L2s at all: Heres why that matters

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Bitcoin is the only decentralized currency, Tether CEO says - Cointelegraph

Tether CEO: Bitcoin is the Only True Decentralized Currency and Meme Coins Are Worthless – – 99Bitcoins

According to Tether CEO Paolo Ardoino (the Head of USDT), Bitcoin (BTC) is the only truly decentralized cryptocurrency. Find out the truth about decentralization here.

At BTC Prague, Tether CEO Paolo Ardoino declared Bitcoin the lone decentralized king among 14,000 cryptocurrencies.

Ardoino outlined what sets Bitcoin apart in the crowded digital currency market in an interview with CoinTelegraph.

Bitcoin is the only example of a currency that is only ruled by math that basically cannot be changed, he stated.

According to the Tether CEO, Bitcoins unwavering certainty and predictability set it apart. Unlike other cryptos that see constant updates and policy shifts, Bitcoin, outside of Stacks, Ordinals,and Runes, mainly sticks to its original protocol.

With the other currencies, you see that there is a group of developers that come every month. They are coming out with a new software release, they change the monetary policy, inflationary, deflationary, and they keep changing things, Ardoino noted.

He also pointed out Bitcoins supply is capped at 21 million coins, with built-in deflationary halvings every four years until mining completes.

Courting controversy, Ardoino bluntly admitted that Tether is centralized, unlike Bitcoin

I openly say that Tether is centralized, unlike Bitcoin, he remarked.

Ardoino also didnt hold back his views on meme coins, the current crypto sensation of tokens riding on internet trends.

I like memes, but not meme coins, he said, emphasizing that Bitcoin and meme coins are at completely opposite parts of the spectrum.

DISCOVER: How to Buy Bitcoin ETF in June 2024 Beginners Guide

Despite DeFis claims of decentralization, JAN3 CEO Samson Mow agreed with Arduino that it couldnt match Bitcoins decentralization.

Yet, Bitcoin itself isnt immune to centralization; for instance, Bitcoin Cores site lists only 14 developers, with most work done by a handful.

Also, it should be noted that Bitcoin is mostly traded on centralized exchanges, which are vulnerable to crashes like FTX or Celsius.

Thats why 99Bitcoin recommends using a mix of Dex and Cex platforms, activating 2FA, and looking into hard wallets to keep control of your assets.

While Bitcoin itself is decentralized, the larger crypto world isnt immune to centralization issues. Look for more updates from BTC Prague and our coverage at Bitcoin Nashville 2024!

EXPLORE:WienerAI Rockets to $5.5m in Presale, Adds $2m in Under 2 WeeksRacing Ahead of $TURBO?

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Tether CEO: Bitcoin is the Only True Decentralized Currency and Meme Coins Are Worthless - - 99Bitcoins

Artemis: Redefining the Future of Commerce with a Decentralized Marketplace – U.Today

In the ever-evolving landscape of digital finance, Artemis stands out not just as another cryptocurrency, but as a groundbreaking vision poised to revolutionize global commerce. With a mission rooted in empowerment and innovation, Artemis aims to create a dynamic and inclusive marketplace where vendors, sellers, service seekers, and service providers converge seamlessly.

Artemis is a commitment to empower individuals and businesses by providing a decentralized, transparent, and efficient marketplace. Traditional barriers to commerce, such as high transaction fees, middlemen, and geographical limitations, often hinder economic growth and personal financial freedom. Artemis is dedicated to eliminating these barriers, enabling direct and secure transactions between participants worldwide. This approach fosters an environment where trust, speed, and innovation drive economic freedom and growth.

1. Decentralized Marketplace

- Artemis leverages blockchain technology to create a decentralized marketplace, ensuring that no central authority controls transactions. This decentralization enhances security, reduces costs, and fosters a more equitable economic environment.

2. Secure and Transparent Transactions

- Utilizing advanced cryptographic techniques, Artemis ensures that all transactions are secure and transparent. Each transaction is recorded on the blockchain, providing an immutable and verifiable ledger of activities, thereby building trust among users.

3. Global Accessibility

- One of Artemis's core strengths is its global reach. By removing geographical limitations, Artemis opens up new opportunities for commerce, allowing participants from all corners of the world to engage in direct trade and service exchanges.

Artemisenvisions a future where economic freedom and growth are accessible to all. This vision is driven by the belief that an inclusive marketplace can unlock new potentials and drive innovation. By breaking down traditional barriers and leveraging cutting-edge technology, Artemis aims to create a vibrant ecosystem where every participant can thrive.

Seize the moment and invest in Artemis today to unlock exclusive presale benefits immediately. We believe in fast-tracking our community's success, which is why were committed to launching swiftlyno long waits, just prompt opportunities and early rewards. Investing in Artemis not only provides potential financial returns but also supports a vision of a more inclusive and efficient global marketplace.

Artemis is more than just a cryptocurrency; it is a vision for a better, more connected world. By creating a decentralized, transparent, and efficient marketplace, Artemis is set to redefine how we engage in commerce. Join us in this exciting journey and be a part of a future where economic freedom and growth are within everyone's reach.

Invest in Artemis today and be a part of the revolution. Together, we can build a marketplace where trust, speed, and innovation drive global prosperity.

For further details and to join the Artemis community, please visitArtemis and connect with social media platforms:

Telegram:https://t.me/artemis_coin

X: https://x.com/coinartemis

YouTube:https://www.youtube.com/@artemiscoin

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Artemis: Redefining the Future of Commerce with a Decentralized Marketplace - U.Today

Tether CEO Calls Bitcoin the Only Decentralized Currency – Watcher Guru

Tether CEO Pablo Ardoino has called Bitcoin (BTC) the only true decentralized currency. The executive of the largest stablecoin issuer, Ardoino lauded the leading asset as truly one of a kind. Moreover, he noted BTC is a token that may never be dethroned.

Speaking to Cointelegraph, Ardoino noted Bitcoin is the only example of a currency that is only ruled by math that basically cannot be changed. That reality makes it absent from any centralization. No matter the efforts of the tokens contemporaries, that aspect has become increasingly difficult to replicate.

Also Read: Tether Challenges Ripple CEO Remarks on US Targeting USDT

The stablecoin market has certainly proven its worth in recent years. Its prominence has drawn participation from companies like Ripple and others. Specifically, these firms observe the markets massive growth trajectory. The issuer of the largest stablecoin has recently discussed one asset that stands above the entire industry.

Tethers CEO has discussed why Bitcoin is in a league of its own. As far as digital assets go, their decentralization infuses them with rarity. Additionally, it doesnt suffer from an influx of updates and changes that come from developers seeking to remain at the forefront of change.

Also Read: Tether Stablecoin Expands To TON Network, Continues Growth

With the other currencies, you see that there is a group of developers that come every month. They are coming out with a new software release, they can change monetary policy, inflationary, deflationary, and they keep changing things, Adoino stated.

Conversely, the executive said BTC is about certainty. Ardoino also noted that there is unlikely to be any asset that surpasses it. The quality of its infrastructure is unable to be replicated in the current landscape. Its why the asset has remained on the market for so long.

That hasnt altered in 2024, where it still leads the industry. In March of this year, it reached an all-time high of $73,000.

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Tether CEO Calls Bitcoin the Only Decentralized Currency - Watcher Guru

The decentralization exists only on Bitcoin for the CEO of Tether – The Cryptonomist

Yesterday, at BTC Prague, Tethers CEO, Paolo Ardoino, stated that full decentralization belongs only to Bitcoin.

He stated:

Bitcoin is about certainty. Its like a clock that keeps ticking, keeps ticking forever. When it comes to the concept of unstoppable or decentralized products because everyone uses the term decentralized there is only Bitcoin.

He also stated that he is a big fan of the 1MB limit on Bitcoin blocks, and the fact that only one is mined every 10 minutes, because this way everyone can participate. Even in the poorest country, one can easily download a block and participate.

The reference was obviously to other blockchains, which have blocks that are also much larger and above all much faster, but in this way require the nodes to download large amounts of data in a short time, effectively excluding those who have slow Internet connections.

According to Ardoino, Bitcoin is the only cryptocurrency that is not truly centralized.

He said that Bitcoin is the only example of a currency governed solely by mathematics, and that it essentially cannot be modified. The other criptovalute instead have a more or less high degree of centralization.

For example, he referred to those groups of developers who meet every month to decide whether to launch a new version of the software, whether to change monetary policy, and who in fact continue to change things.

The reference is obviously to Ethereum, which unlike Bitcoin evolves (that is, changes).

The Bitcoin protocol is practically unchangeable, except rarely and with the consensus of the community. Instead, the Ethereum protocol changes relatively often, even several times a year, and the decision on what to change, and how, is made by a relatively small group of developers, and not by the entire user community.

Moreover, it is evident and undeniable that the Bitcoin protocol changes only rarely (on average once every about 4 years), that the changes are often just additions and not real modifications, and above all that its monetary policy has never been changed. At present, it is reasonable to imagine that no one in the world is truly capable of changing it.

Instead, for example, the Ethereum protocol changes almost every year, sometimes even with profound modifications such as the transition from Proof-of-Work to Proof-of-Stake, and with a monetary policy that has already been changed several times in its nine years of existence.

If you add to this that such decisions are made by a relatively small group of developers who meet every month, the picture that emerges is certainly one of a greater degree of centralization compared to Bitcoin.

Tether, for example, is a traditional centralized company that issues tokens on Ethereum and on other blockchains.

To tell the truth, the first USDT tokens issued by Tether in 2014 were issued on Omni, a Bitcoin sidechain, but at that time the Ethereum blockchain didnt even exist, as it was created the following year.

In Tether know well what centralization is, just as any traditional company with shareholders and a CEO does.

Ethereum is actually a project carried out by a foundation, the Ethereum Foundation to be precise, which however is in all respects a centralized organization with a single executive director (Aya Miyaguchi).

Instead, behind Bitcoin there isnt even a single foundation, given that there are several centralized entities working on Bitcoin but none that actually have power over its protocol. For example, the same website bitcoin.org, often mistakenly considered as the official website of Bitcoin because it was originally created by Satoshi Nakamoto himself, actually now belongs to an independent group of contributors that does not represent Bitcoin itself.

In other words, in some ways, foundations like the Ethereum Foundation seem more similar to centralized entities like Tether than to the unorganized community of Bitcoin.

Of course, there are also several Bitcoin foundations, but there is no official one.

The speech is still different for many altcoin.

For example, behind various altcoins there are actually real companies, as in the case of USDT and Tether.

The difference lies in the fact that while it is Tether, and only Tether, that issues the USDT tokens, cryptocurrencies like BNB, SOL, XRP, TON, or ADA are actually issued by a not entirely centralized network, even though behind BSC, SOlana, Toncoin, and Cardano there are real companies that effectively manage the crypto project.

There are therefore different degrees of centralization, ranging from the maximum, represented for example by Tether, to the minimum, probably represented only by Bitcoin where it is close to zero.

There are crypto projects, such as Ethereum, that have a higher degree of centralization compared to Bitcoin, but lower than others, and there are others still, such as XRP, that have a significantly higher degree of centralization, although lower than Tether.

The highest degree of decentralization is probably only found in Bitcoin itself, behind which there is no single entity, subject, or organization that has any kind of centralized power through which it can manage its development or arbitrarily decide its evolution.

At most, there are large holders of BTC who can influence its price in the medium-short term by selling them.

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The decentralization exists only on Bitcoin for the CEO of Tether - The Cryptonomist

Live from Consensus 2024 | The Evolution of Napster from Decentralization to Web3 – CoinDesk

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated .

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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Live from Consensus 2024 | The Evolution of Napster from Decentralization to Web3 - CoinDesk