Coinbase’s Mixed Bag of Decentralized and Centralized Crypto Financial System Services

Coinbase’s Mixed Bag of Decentralized and Centralized Crypto Financial System Services
ôîòî ïîêàçàíî ñ : bitcoinexchangeguide.com

2018-7-26 21:50

Should Exchanges be Centralized and Decentralized?

Many consumers believe that a decentralized system should not have centralized aspects and vice versa, but in reality, the latter is needed for the former to exist and the likewise as well. Why? According to a well-thought out post shared by Traders Magazine, it consists of two phases, the “Investment Phase” and the “Utility Phase”.

In the post, it was argued that exchanges are centralized, and wallets are decentralized. One might quickly wonder how the former makes sense, but think about it, when users decide to purchase Litecoin [LTC] via Coinbase, their funds are withdrawn from traditional banks, which are then used for the purchases. Hence, the integration of traditional banks is needed to facilitate the transaction, which clearly is centralized.

When it comes to wallets, this aspect leans more towards decentralization, as it involves crypto-to-crypto transaction and users have control over their holdings. Similarly, transaction fees are, in most cases, nothing compared to the fees tied to traditional banks. Moreover, the utility phase falls here, as users are given the opportunity to make use of their holdings via their wallets.

To help users and investors of varying levels understand centralized and decentralized products, Traders Magazine shared a summarizing chart that distinguishes the difference between a crypto exchange and wallet.

As seen in their chart, when it comes to their purposes, centralized products help to make money, however, it’s the decentralized product that initiates real-life uses of crypto. The same can be said about crypto custody, as a centralized product involves middlemen interference, while the latter gives control to the rightful owner.

Noticeably, this demonstrates that a centralized system is needed to make the notion of decentralization an actuality, and this is something Coinbase and many of its likes will continue to work towards.

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decentralized centralized system should well according well-thought

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Ôîòî:

Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way.

2018-7-21 23:03


Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.

2018-7-21 23:03


BX.BET ICO

BX is a blockchain-based betting and prediction market ecosystem, designed to change the way the world bets. With BX, we are creating a decentralized betting exchange without a middleman and centralized structures, that has the ability to disrupt and redefine the traditional betting industry by offering its users a unique and enhanced experience.

2018-7-16 21:37


Ôîòî:

Promoted: The Future of Online Shopping Is Powered by Spl.yt — A Decentralized E-Commerce Protocol

As a rapidly growing business sector, e-commerce continues to open up new avenues for exploring, comparing and purchasing products worldwide. Spl. yt, a smart contract protocol, aims improve the e-commerce system for buyers and sellers by automating functions currently performed by “middlemen” marketplaces like Amazon, eBay and Alibaba.

2018-7-16 19:45


Ôîòî:

PoWx Seeks to Change Bitcoin Mining with “Optical PoW”

Nonprofit organization PoWx has launched this week with the goal of boosting the idea behind proof of work (PoW) through more innovative algorithms. The company is seeking to decentralize Bitcoin mining and make it more accessible to consumers through a new technology that executives have dubbed “optical PoW” — a new type of hardware that utilizes a more advanced and energy-efficient form of laser technology as the cornerstone of mining.

2018-7-14 01:04


‘I Hope They Burn in Hell’ says Ethereum’s Vitalik Buterin about Centralized Cryptocurrency Exchanges

Co-founder of Ethereum (ETH) Vitalik Buterin criticized centralized exchanges, saying that he hopes they will “burn in hell,” in an interview with a TechCrunch journalist Jon Evans, July 6. [embedded content] Buterin has reiterated his positive stance on decentralization, claiming that by developing “better” decentralized platforms, the  crypto community should be able to take away

2018-7-7 17:34


PopChest ICO

The POP Network is a decentralized approach to monetized video distribution using direct micropayments and token incentives instead of relying on advertising and paid subscriptions. The result is a system where Creators form direct relationships with their consumers, are liberated creatively, and get economically rewarded in a fair, transparent manner.

2018-7-2 17:20


Ôîòî:

On Radical Markets

Recently I had the fortune to have received an advance copy of Eric Posner and Glen Weyl’s new book, Radical Markets, which could be best described as an interesting new way of looking at the subject that is sometimes called “political economy” - tackling the big questions of how markets and politics and society intersect.

2018-7-21 04:03


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