Trying to understand if alt-coins are really decentralized

[raymonde]

Until just a few days ago I believed one of the major misconceptions that alt-coins are a ponzi scheme but after stumbling over a few articles I have realized that alt-coins are a very real thing and believe that some form of crypto-currency could be a major part of the future. I might be a crypto enthusiast.

As far as I understand alt-coins are decentralized and immune to human manipulation of value because once the network of miners begins to grow there is no default server since the script that essentially is the bitcoin runns on every cpu in the network and will communicate with whatever miners that are available.

If this is true then I do not understand how altcoins are updating their source code. since everything is decentralized how is the the network of an altcoin receiving updates? (bitcoin has a bunch of different source code versions.)

Obviously I haven't quite understood the concept. if it is a true decentralized p2p network I don't understand how it would know where to update from and doesn't the updating create a form of centralization to the alt-coin developer website?

I have tried for a few days to figure this out, but the more I read the more confused I get.
Any pointers on this would be much appreciated. I hate not understanding what's going on.

[ca333]

notice: maybe move this thread to altcoin-section if discussion is limited on altcoin. i extended topic to btc to provide you comparison.  

Until just a few days ago I believed one of the major misconceptions that alt-coins are a ponzi scheme but after stumbling over a few articles I have realized that alt-coins are a very real thing and believe that some form of crypto-currency could be a major part of the future. I might be a crypto enthusiast.

As far as I understand alt-coins are decentralized and immune to human manipulation of value because once the network of miners begins to grow there is no default server since the script that essentially is the bitcoin runns on every cpu in the network and will communicate with whatever miners that are available.

alt-coins ("alternative cryptocurrencies") are decentralized cryptocurrencies just like BTC.
In fact most of alt-coins are forks ("modified copies") of btc or ltc. There are some 2nd gen coins which
are more different. But many alt-coins are not "serious" and i do not recommend investing in those.

If this is true then I do not understand how altcoins are updating their source code. since everything is decentralized how is the the network of an altcoin receiving updates? (bitcoin has a bunch of different source code versions.)

Obviously I haven't quite understood the concept. if it is a true decentralized p2p network I don't understand how it would know where to update from and doesn't the updating create a form of centralization to the alt-coin developer website?

I have tried for a few days to figure this out, but the more I read the more confused I get.
Any pointers on this would be much appreciated. I hate not understanding what's going on.

as for BTC:
it always depend on the network and all the users and if something is trusted or not. So users only load btc-versions which are trusted (verified and signed by the btc-devs). The system ("network") is 100% decentralized. And not only
the network, but actually also the developers. Its not only 1 developer. Its many developer. They are spread over the world. Not only 1 developer have push privileges on github. So the development is also decentralized.

as for altcoins:
many altcoins have only one developer or small group of developers and mostly only 1 person which is pushing the commits and have the rights to do so. In this case this also means development is centralized.


regarding the upgrade-process itself:
So imagine it like any p2p client you use. As long the update is not containing hardfork, users can update their
client anytime, which don't "affect" the network (except maybe new block versioning, new nodes, checkpoints, etc.).
so you update your client, but the blockchain which is synced with all the p2p network is still existent and stay the same.
So you update the client, not the client updates itself.

regards,
ca333
 

[Meuh6879]

If this is true then I do not understand how altcoins are updating their source code. since everything is decentralized how is the the network of an altcoin receiving updates? (bitcoin has a bunch of different source code versions.)

when 50 blocks of the last 100 blocks have reach the better version (like v3 over v2 from BIP66) ... client indicate this with a popup notification each that you launch the client (Bitcoin Core).

so, you must update because, after a couple of time, you can not create wallet with no-updated version of the client.

but, in essence, you can deserve the network (relay transactions) with a very very very old client.
but, you CAN'T MINE with an old client (network reject job mining).

[raymonde]

ca333 Thank you for your response.

In my original post I should have used the word crypto currency instead of alt-coins since I am trying to understand bitcoin along with it's derivatives.

When I think of p2p I remember old torrent networks like lime and emule.
I imagine in some ways bitcoin and altcoins are similar to this but even when comparing to this I don't quite understand.

As far as I understand bitcoins will work with any ewallet or mining software. So how does it work that when Bitcoin updates their script all the other softwares still work?

Thank you also for your answer Meuh6879. It makes sense to me that outdated clients would not be able to mine anymore but I don't understand how a decentralized network can force to update the client in the first place. What would prevent a competitor company with a new client to take over 50 blocks of the last 100 thus becoming the required client for mining?

I also don't quite understand how updating the client to change block versioning and nodes would not affect and render all clients from other companies unusable.
In other words: how do all other clients (mining software and ewallets) stay compatible even if nodes, checkpoints, halfing and mining rates have changed?



I'm sorry I obviously have no Idea how this works but I would very much like to understand this to decide if crypto currency is a real thing in my opinion.  
Thank you two for your input already.