Decentralization or Scalability?

[Abiky]

In crypto land, many people are often looking for ways to make money instead of believing in crypto's core technology (Blockchain) that gives financial freedom to anyone worldwide. Some people prefer decentralization above all else because it provides censorship-resistance against third parties. Others simply prefer scalability over decentralization, to enjoy faster speeds and low costs as much as possible. While many people have criticized Bitcoin because of its high fees and slow TPS, it's more of a feature than a bug as it preserves decentralization in every way.

Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.

What are your thoughts?

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[ansi]

You're mistaking about the part tthat " there is no more need for Blockchain scalability".
Scalability itself means non stoppable development to bring the best that the market, economy, communities,... need.

If i had to choose among both, i would differently choose Decentralization over Scalability.
Scalability is something inevitable while decentralization is literally jeopardized nowadays.

[Bim abk]

in a system I prefer to decentralize because I think one form of resistance for people who abuse third-party transactions, as well as the transparency in the transaction makes me prefer bitcoin in.

[walerikus]

In crypto land, many people are often looking for ways to make money instead of believing in crypto's core technology (Blockchain) that gives financial freedom to anyone worldwide. Some people prefer decentralization above all else because it provides censorship-resistance against third parties. Others simply prefer scalability over decentralization, to enjoy faster speeds and low costs as much as possible. While many people have criticized Bitcoin because of its high fees and slow TPS, it's more of a feature than a bug as it preserves decentralization in every way.

Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.

What are your thoughts?

Simply take a look at Digibyte. At the same time it's secure, decentralized and scalable as no other.

[webtricks]

Bitcoin's block size is limited therefore it can only process handful of transactions per block. As you said, it is feature rather than bug. This contributes to the market value of Bitcoin, making is more difficult to own. This is called premium creation. That is why Bitcoin's price has risen so much.

But it is wrong to expect everything from Bitcoin. It can't be used as your go-through currency for shopping or a currency supporting your online application that processes hundreds of transactions per second. To solve this problem, developers have created many coins over-time. With less block difficulty (due to less mining competition), large block size, shorter block creation time; such coins solve the basic problem of Bitcoin. But it doesn't mean such coins are centralized. Decentralization is not black/white concept. Most of the coins are still community-driven even though their spread is much smaller than the Bitcoin.

[bittraffic]

If I have to chose its going to be the decentralization because after all there is an option for the lightning network for the faster transaction. What this market need is the decentralization to once and for all end the hacking of funds and  scamming of centralized platforms. It shouldn't just the market should be decentralize but the projects as well.

[teosanru]

In crypto land, many people are often looking for ways to make money instead of believing in crypto's core technology (Blockchain) that gives financial freedom to anyone worldwide. Some people prefer decentralization above all else because it provides censorship-resistance against third parties. Others simply prefer scalability over decentralization, to enjoy faster speeds and low costs as much as possible. While many people have criticized Bitcoin because of its high fees and slow TPS, it's more of a feature than a bug as it preserves decentralization in every way.

Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.

What are your thoughts?

Actually both of them are equally important because Cryptocurrencies are advantageous because they are decentralised but for me personally scalability is much more important because if we are expecting Cryptocurrencies to boom over the world then it must have the capability to cater millions and billions of transactions in a minute. The mere 3000 transaction block size within 10 minutes is surely not going to help anyone. So definitely bitcoin will have to be improvised to be used as a mainstream currency.

[walerikus]

You argue weather it is possible to have a scalable solution or decentralized for a blockchain. While there is a working example, Digibyte operates 1066 tps on a Proof of Work blockchain, it has multishield feature that helps secure the network to prevent 51% attacks. Digibyte also use multialgo to make 51% attack even less possible, because every 15 seconds each block is generated by a different algorithm SHA, QUBIT, SCRYPT, SKEIN, ODOCRYPT and needs different equipment. Digibyte also has real time difficulty adjustment so it helps network scale faster and have no delays to generate blocks. All this stuff is already possible and operating live on a real blockchain network.

[ATSgrowth]

I think that answer is clear. Decentralization!
If you want high scalability use MasterCard or Visa, if you want decentralization use Bitcoin. It is technical problem that decentralization is connected to low scalability because the information about payment has to be send among many nodes. 

[VanDeinsberg12]

Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.

What are your thoughts?

rather than scalability and it's much better to replace it with the utility. scalability doesn't matter a lot these days. The new announcement that comes from the coinfloor to delist all of the altcoin from the market has already proven if scalability means nothing compared with utility. it's so easy to create a scalable blockchain while there is the only coin that already proven its utility and that's bitcoin.
scalability just an old story that used by garbage blockchain that cannot create a utility or usability for its token or coin

[antsam]

let nature do the selection, whether Decentralization or Scalability. Because both have advantages and disadvantages of each. Crypto is here to speed up transactions and penetrate transactions between countries, but regulations will definitely emerge between them.

[setialovers]

In crypto land, many people are often looking for ways to make money instead of believing in crypto's core technology (Blockchain) that gives financial freedom to anyone worldwide. Some people prefer decentralization above all else because it provides censorship-resistance against third parties. Others simply prefer scalability over decentralization, to enjoy faster speeds and low costs as much as possible. While many people have criticized Bitcoin because of its high fees and slow TPS, it's more of a feature than a bug as it preserves decentralization in every way.

Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.

What are your thoughts?

Decentralization is an important part of cryptocurrency because this is what underlies Bitcoin was created. But with the development of transactions that occur, scalability also becomes important and I think the technology will continue to develop, maybe in the future there will be a project that combines the two

[semobo]

Decentralization should be the one which is the true need of an crypto currency.If we wanted something digitized form of payment then why we need cryptos fiat can be the one which is also available in digitized form but it can be tracked,limited usage and much more.

[Darooghe]

I prefer decentralization because there are a very good benefits to scaling in a decentralized way. for one there’s less initial cost involved, users around the world are providing the computing power. There is a much lesser chance of the network going offline, natural disasters, electricity outages, etc. happen in the real world but geographically disparate computing mitigates that. Associated with that risk is regulatory cost, which is also mitigated by decentralization. You also have a much more secure system where people can’t just hack you and steal the money in the system like keeps happening on centralized exchanges.

[jcarlo]

I prefer decentralization because there are a very good benefits to scaling in a decentralized way. for one there’s less initial cost involved, users around the world are providing the computing power. There is a much lesser chance of the network going offline, natural disasters, electricity outages, etc. happen in the real world but geographically disparate computing mitigates that. Associated with that risk is regulatory cost, which is also mitigated by decentralization. You also have a much more secure system where people can’t just hack you and steal the money in the system like keeps happening on centralized exchanges.

Decentralization and scalability are equally important. At the beginning of the coin making, decentralization was an important issue but after transactions grew rapidly, scalability became the next issue that needed to be addressed. For the crypto community, decentralization is the main thing because it concerns the security of transaction data but I think it can be combined with scalability in the near future

[Lottoshi]

Even though there’s no easy answer, but I think decentralization should always come before scalability, why else would you scale? If you’re not decentralized enough anyway why not just go for centralized solutions.

[Trela]

Which is why, I wonder what's the best path for crypto to take? Will it be decentralization or scalability? With an ever-growing demand for crypto, there's the need to scale Blockchain technology to meet with the needs of everyday people. But then, there's the issue of centralization. The more the Blockchain scales, the less decentralized it will be. You'll sacrifice one thing over another. It's nearly impossible to meet with both standards at the same time.

What are your thoughts?

rather than scalability and it's much better to replace it with the utility. scalability doesn't matter a lot these days. The new announcement that comes from the coinfloor to delist all of the altcoin from the market has already proven if scalability means nothing compared with utility. it's so easy to create a scalable blockchain while there is the only coin that already proven its utility and that's bitcoin.
scalability just an old story that used by garbage blockchain that cannot create a utility or usability for its token or coin

Not precisely, remember what made Bitcoin transactions smooth and cheap again in 2017? Segwit? Not really! In that time, with the help of XRP, STR (XLM), ETH, LTC, and other altcoins, Bitcoin was able to solve the problem of too many transactions on its Blockchain. Not only by the Segwit upgraded has solved that issue.

I would disagree with any idea, such as focusing solely on Bitcoin because we want Decentralization, not just decentralizing work on Blockchain. And, it must also include the number of assets put into Cryptocurrency.

However, I can't disagree with you about the currency Altcoin ecosystem is trash at now. :V

[beerlover]

When we are talking about brand new coins, decentralization is a dream. Why do people pay millions of dollars in funds to a team to create a coin? Because they want the team to build a good coin and keep working for it. When a team works for a coin that coin can never be decentralized, it is not humanly possible. So in the long run if you invest into a coin know that it can never be decentralized.

Look at bitcoin for example, it doesn't have any one person behind it and even the core team members can't do whatever they want, hell billion dollar worth duo created bitcoin cash because they couldn't change bitcoin. When you are in the position of bitcoin maybe it is time to think about availability, if you are new it would be great to move towards decentralization.

[tenakha]

If the value of today's crypto space with USD is removed, %1-2 of the community will be left behind. The majority is only interested in earning more. Decentralization remains in the background, as there are priority demands in such a system. Indeed, it may be possible to carry both in one basket, but if one is not superior than the another.

[gensol]

I agree with you. The more scalability blockchain projects seeks, the more its driven into the hands of with government or private institutions as well as individuals. Remaining decentralized entails a long time of waiting for more adoption and scalability but seeking scalability reduces its decentralized abilities.