Through this one minute animation, we will find out what decentralization in let’s call it a financial sense is in the first place as well as what the ramifications are with respect to the cryptocurrency landscape.
More specifically, a meaningful understanding of what decentralization is in the first place will enable us to find answers to a wide range of questions such as:
1) How decentralized is Bitcoin itself and why?
2) What about altcoins, should they be considered as decentralized as Bitcoin?
3) What are the pros as well as cons of decentralization?
4) Is decentralization always the answer in the world of finance?
5) If not, then what are the instances where decentralized solutions such as Bitcoin make sense and when would a centralized alternative represent the superior choice?
While there are few certainties in the world of economics, it is fortunately anything but difficult to wrap your head around decentralization, especially as it pertains to the ever-so-heated Bitcoin vs. altcoins debate