Decentralized System Disadvantages

[gentlemand]

Probably the parting of people with different opinions into multiple factions. If certain people disagree with how bitcoin is moving forward due to different opinions on how things should work, they split off and fork bitcoin. A perfect example of this would be the big blockers, whereas they forked off and created Bitcoin Cash(BCH). As bitcoin moves forward, there's definitely going to be more of this. With a decentralized system, there's no centralized authority to make the decisions hence the splits in the community. I think this is both an advantage and a disadvantage.

this is a great explanation for this, you are definitely right. I wonder how many more coins we will have, its an indefinite amount i assume.

I think it's an advantage myself. Every time it happens and fails, and all of them will fail at least in the sense that they'll never usurp what they sprang from, it makes the original stronger and reminds people why consensus is the only thing worth bothering with. If you want to buck it, expect to get bucked yourself.

[1714644271]

1714644271

[Sandus_Cryptolover]

Currently, the main disadvantages of decentralized systems are low transaction throughput and poor scalability. These problems inhibit the development of decentralized systems.

that is not a problem of decentralisation. that is a problem of a centralised group deciding not to change the code that has put limits in to prevent scaling.

blockchains can scale if you alter the limits imposed

At the moment it is a major problem until the limit to the code is altered. But my fear is that, if it's altered and scalability sets in, what then happen to transaction charges, do you think it would increase or.decrease?

[hulla]

We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?

There many disadvantage of decentralized system but those the affect the crypto currency community are the people choosing side which literally lead to fork of coin, people abusing the decentralized technology by using to make illegal transaction and creating of fake ICOs which is currently happening through ETH smart contract but ETH are not to be blame though.

[suzanne5223]

Probably the parting of people with different opinions into multiple factions. If certain people disagree with how bitcoin is moving forward due to different opinions on how things should work, they split off and fork bitcoin. A perfect example of this would be the big blockers, whereas they forked off and created Bitcoin Cash(BCH). As bitcoin moves forward, there's definitely going to be more of this. With a decentralized system, there's no centralized authority to make the decisions hence the splits in the community. I think this is both an advantage and a disadvantage.

I agreed with what you said because the decentralized in nature of bitcoin was what causes the fork of bitcoin network which lead to the birth of BCH,BTG etc. However, I believe one of the disadvantage decentralized system of crypto currency is not been endorse/supported by the government and I also believe been decentralized of bitcoin was the reason why the government are the number enemy of bitcoin because they see it as a threat to their power.

[franky1]

Currently, the main disadvantages of decentralized systems are low transaction throughput and poor scalability. These problems inhibit the development of decentralized systems.

that is not a problem of decentralisation. that is a problem of a centralised group deciding not to change the code that has put limits in to prevent scaling.

blockchains can scale if you alter the limits imposed

At the moment it is a major problem until the limit to the code is altered. But my fear is that, if it's altered and scalability sets in, what then happen to transaction charges, do you think it would increase or.decrease?

allowing more transactions in. takes pressure off the mempool
also if a fee priority is put in place where by a user spending more often pays more. then spam decreases
meaning people dont just make transactions for the sake of it (mixers/tumblers/de-tainters) or who just run their coins through just for the sake of running coins through (spam up mempools)

so seeing a reduction in people spamming the network with bloated transactions, spending every 1confirm will become something rarely seen. allowing for others to transact easier and cheaper.

[kucritt]

i think the disadvatage of bitcoin and cryptocurency with decetralized system, is its hard to makes legal in evey country because it dont have the central like the other bank and e currency system that we know right now

[libert19]

When you use centralized systems, you can look upon to that centralized entity in case you make mistake, example - bank frauds. In decentralized systems it's not possible, you are on mercy of receiver if you make mistake.

[Pattart]

We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?

There many disadvantage of decentralized system but those the affect the crypto currency community are the people choosing side which literally lead to fork of coin, people abusing the decentralized technology by using to make illegal transaction and creating of fake ICOs which is currently happening through ETH smart contract but ETH are not to be blame though.

that's when there is no control so anyone can do anything here. decentralization can be a disadvantage if it is used for illegal
purposes, but I think centralization also has disadvantages, so there is nothing perfect here..

[Stac]

  In decentralization and centralization there are advantages and disadvantages there is a chance  to misuse the power  in centralization and in decentralized one the communication flow will be free and open, decision making will be slow in centralized and in decentralized one decision making will be faster; and the decision making will be only on the top management in centralized system and in decentralized means there is multiple persons to make decisions . The biggest draw backs in decentralized business is that if the person is not experienced or not trained then the business may be harmed In decentralized one there will be a chance for unhealthy competition and will be lack of co-operation .As a whole if we analysis about decentralization it will not be always a good strategy but the disadvantages of decentralization can be controlled by the degree of authority . Even though both centralized and decentralized have extremes that can be avoided and in Bitcoin transactions decentralization is a good strategy.

[FedorIzmailov]

the fact that you just can't keep track of the scammers who stole your money. This is a huge disadvantage of this technology.

[BillieCrypt]

Decentralized systems with skillfully created architecture don’t work well with a small number of participants. If there are a large number of nodes and network participants, then the reliability of such systems only increases. Existing problems with Bitcoin are caused by its small distribution and the possibility of large players to carry out manipulations.

[cizatext]

What ever has an advantage also have it disadvantage and blockchain and the decentralized system is not an exception to this fact, since decentralization make it impossible for any transactions carried put under it untraceable it then make it clear that any mistake done can never be undone in the decentralized network.

[mweezy]

We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?

It always vase-vasa what every is good most have negative or bad part, decentralized world is always know to have the highest risk compare to centralized world were every thing is been done face to face. Because in decentralized world or network the transactions is mainly done using internet and block transaction is always know to be undo able which is the main disadvantage when mistake is done.

[coinwizard_]

A lack of control can have a negative impact. Resolving the issue with transaction speeds could have been done by a governing body and prevented the debacle with with bitcoin cash

[MainIbem]

Chaos and anarchy are two issues that loom in a decentralized system. The proliferation of blockchain projects is an example of how chaotic such a system can be.

[Snaic]

We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?

First of all, we know that the decentralization of cryptocurrency primarily means its high price volatility. This is both a virtue and a lack of cryptocurrency at the same time. The negative side of the high price volatility of decentralized cryptocurrencies is that it is very difficult to use as a means of payment, and therefore the government is not in a hurry to legalize it. Without legalization of cryptocurrency by the state, it cannot develop further normally.

[Ultimist]

I think that this is the absence of any regulatory body that could protect the interests of investors. Many people get into bad situations due to lack of knowledge or any other reasons. But I think it's a small disadvantage. And maybe it's even a advantage. After all, it teaches us to be responsible and that we were able to make decisions.

[seleme]

Volatility is main problem considering the facts about latest decentralized exchanges. Decentralized platforms let investors to take care of their own security without wasting time with rule of different regulators. Knowledge is the power in this industry and smart investors will survive no matter which direction markets choose.

[BlackPanda]

We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?

First of all, we know that the decentralization of cryptocurrency primarily means its high price volatility. This is both a virtue and a lack of cryptocurrency at the same time. The negative side of the high price volatility of decentralized cryptocurrencies is that it is very difficult to use as a means of payment, and therefore the government is not in a hurry to legalize it. Without legalization of cryptocurrency by the state, it cannot develop further normally.

Every thing must have weaknesses and strengths, so we cannot ensure that something is the best. The most important thing is how the government attitude towards cryptocurrencies, when the government provides support for cryptocurrencies, will make crypto development even better.

[baghdatis1990]

      The decentralized system is very suitable for the crypto market. This decentralized system can not control and influence a currency, and that's a big advantage. A decentralized system has few disadvantages, and these are small disadvantages. Decentralization makes many beginners quit the crypto market because they do not have a help guide, they do not know where to ask for information and give up. If the crypto market used a centralized system, it would have been dead for a long time.