Bitcoin Forum

Many ICO these days says decentralised, but usually have their own central software for using that technology or product, rather than writing in smart contract.

The only thing written in smart contracts are the coin distribution, etc.

Then why these are called decentralised?

Or am I missing something?

P.S. I am learning, so any relevant info is appreciated!

Yeah, that's one word that's thrown around a lot... Technically a lot of these coins are "decentralized", but really it's been feeling like a buzzword that would be more weird to not have in your ANN thread or description.

Just understand that some things are taken as standards and really shouldn't be one of the main selling points (Buy this boat now and it floats!). Really, when you're doing your research, you'll find the points about the coin that will convince you to buy into it- it won't be some easy, cheap statement like claiming to be decentralized.

Cheers.

Exactly. "Decentralized" has become a buzz word, along with the idea that EVERYTHING is better on-chain. But that's FAR from obvious.

Take all the recent fintech startups that run all their transactions on-chain (Humaniq, Everex etc.). Why? These guys want to reach millions, maybe billions of users. Does Blockchain have the capacity and throughput to handle this many transactions? What about on-chain transaction fees---they can be volatile and may become prohibitively expensive.

Our platform does it differently. Some people don't care about on-chain transactions. If not, we can handle them centrally on our databases and do them instantly and for free. But we're still Blockchain enthusiasts---if you want to invest in cryptos or run your transactions on-chain, you can do that on our platform, with great security. But we don't force cryptos on our users.

If you would like to know more about our approach to decentralization, please check out our ANN thread (https://bitcointalk.org/index.php?topic=2028648.0) and formal whitepaper (https://lakebanker.com/whitepaper.pdf)

You are correct,Most of the ICO these days don't even have their own ICO software forget about decentralisation.They tend to target the commercial industries  and guess who are the founders of these ICO's ? The corp orates themselves ! You cannot expect much from them,can you ?


Forget about decentralisation,ICO's only target money.Their only intention is to make people believe in their idea and sell the worthless tokens.It has become a business now.I don't even see any great developers leading any of those projects.Just money hungry corporate.

Yes, it's absolute majority

However, if u spotted a working open blockchain and devs're asking for reasonable capital to develop some specific features or to market the project, it can be interesting (and also can turn into Blockstream bullshit)

All that is said to be decentralized is because more and more new coins emerge so as to make the competition between old coins with new and more dominant users to choose which has a high selling value and emerge a desantrilisasi (changes that can happen instantly without being noticed by people quickly its existence)

There are some nuances that need to be considered when contemplating the nature of the decentralized systems under scrutiny. There are separate components of these systems working together to build the networks (miner nodes, validator nodes, etc) all correlating their individual consensus protocols which collaborate to construct the distributed ledgers.

A lot of people misunderstand the meaning of decentralization, especially in regards to blockchain.

This is a great resource that fully explains which parts of blockchain are centralized, decentralized, and in what way. (https://medium.com/@VitalikButerin/the-meaning-of-decentralization-a0c92b76a274)

Good observation my friend. That sort of behavior should be seriously frowned at. Maybe Cryptocurrency users should organize to oppose some of things. Crypto writers, journalists, promoters, users etc need to do everything possible to promote decentralization before the unethical behavior becomes a cultural

Thanks for a good read!

Buzzwords are what seems to sell...

None of this shit is really decentralized. Those with money and connections will always be on top, and the one who controls the GitHub repo controls the coin, no matter what coin it is.

For me, decentralized means poor performance for centralized. I'm try to building the decentralized game and decentralized exchange, and I found it's difficult to improve the performance of decentralized layer, but it's more believable because of decentralized layer.

So, my assumption was not wrong at all. There are hardly any ICO which are actually decentralized and have a plan which can be executed within the timeframe in their respective roadmap.

what project r u working on? is it a new coin or a service use blockchain technology

There are many projects out there that do not really need a blockchain, this has become a word people use to look smart or to make their projects look high tech, some time ago I saw an ico about renting office space, why do you need an ico for that? I had no idea and if it does not make sense then do not invest on it.

Decentralized, safe, fast and secure are the keywords everyone is using.

Those ico are often bullshit.

Right. The Whitepaper explains exactly how they are decentralized and MORE IMPORTANTLY why decentralization is good for the project in terms of how it will actually make money. If it doesn't, the project is just empty marketing and buzz words.

ICO is opposite of decentralization, the only thing truly decentralized is the blockchain and any coin operating on it while the project itself has nothing

To do with decentralization mate. do you even know what happens in an ICO? if you have enough skills in coding you could sell your ideas after you

Do a showcasing of your coding skills. you sell your ideas and if you decide to take a trip some where on some island for a few years none of the ICO

Investors could do anything.

Correct, if anything bitcoin has showed that we cannot make a blockchain scale and manage millions of transactions that is why the devs of bitcoin have gone with segwit and with off chain solutions so the projects that promise that everything can be done in the blockchain and that they are going to be able to scale are lying.

http://d3uifzcxlzuvqz.cloudfront.net/images/stories/content/handbooks/blockchain/ibm-blockchain.jpg

I found this picture some time ago and it kinda opened my eyes.. We just don't have the facilities yet for a fully decentralised economy. However, we are potentially going into the right direction of facilitating all decentralised volume. The question is if we can break out the established ecosystem, or if they will be faster in regulating it by creating their own “corporation blockchain“.

I agree with you. I am sure that neither of the developers care about decentralization. They use smart contracts to create a token not because of decentralization. It is a standard now.

i think its due to decentralize is the feature of blockchain, and many projects are not using blockchain or dont need to use, but the team force to add decentralized to the description whick makes it looks like blockchian to defraud the trust

No you are not. ICOs use mainly ETH blockchain just to gather founds to develop their centralized platform.  In many cases that is only solution and in many cases it would be way more experience to use decentralized database over centralized. But word decentralized sells well ad that is what they are after. Best is to put it in company name. :)
Same situation happened at end of last century and it was called Dot bubble.

I can't get some people or developers said their project is decentralized, I just take an example about the true decentralized is to keep the miners to run the network and makes the nodes will be spreaded around the world and the attackers must break down all of the nodes before affecting the network. This not applicable in the project.

Centralization is easier, that is why that is the more common system of government of the world where a few people keep most of the power but for the very first time in the history of civilization decentralization is becoming possible and I think we are going to follow that direction for the next years.

'injoin' runs DAD, a true decentralization concept. "www.injoin.in"

https://medium.com/@injoin_in/dad-decentralized-autonomous-democracy-279d52317cff

https://i.imgur.com/zjonFO4.jpg

Decentralisation has become a boom thanks to Bitcoin, but what happens today, is that people are trying to get rich thanks to investors who don’t know the difference between ‘decentralised’ and ‘distributed’. Most of products provided in the ICOs today are centralized around something, like companies and their owners with their interests.
So yeah, decentralisation is a very rare thing today.

Myself was thinking on the subject for several days and found this thread today. Strongly agree that decentralized is more of a fancy word used by ICOs. Each announcement is composed of tons of such words (eco-system etc.).
More questions than answers after all.