Decentralisation and security matters

Charles spoke at the Binance Conference in Dubai a few weeks ago and touched on decentralisation. He got a fair reception all things considered (Binance have one of the most centralised chains around which is largely a cut and paste of Ethereum).

You may be familiar with the blockchain trilemma of scalability (or speed), security and decentralisation. It’s hard to optimise for all 3 and most smart contract chains have opted to take speed and sacrifice decentralisation and security.

Why does that matter? Well without decentralisation you cannot have censorship resistance, and without security you don’t have the confidence to be sure the blockchain will perform as expected and your money stays yours. Both of these seem like things that you don’t need to worry about too much (after all price goes up?), until you don’t have them anymore when they assume absolute importance…

Bitcoin, Ethereum and Cardano all prioritise decentralisation and security. To date only Cardano has a design that will provide those in Layer 1 along with smart contracts and reasonable scalability.

Linked below for your convenience.