Decentralization

Was 2020 a ‘DeFi year,’ and what is expected from the sector in 2021? Experts answer

Figuring out the point at which decentralized finance began almost always ends up in a rhetorical debate. Some argue that Bitcoin’s (BTC) invention a decade ago marked the start of it, as the major cryptocurrency was the first peer-to-peer digital money and represents the conceptual core underpinning DeFi. Others say — and would be technically …

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DeFi projects without decentralized governance? What’s the point?

The role of governance in the booming decentralized finance industry is a nascent one, and there are ongoing conversations from key figures in the industry around its purpose and what governance may look like in the future. Sam Bankman-Fried of FTX recently shared that his firm’s involvement in DeFi will be “motivated by short-term profits …

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Interview with Sergey Nazarov

Chainlink Co-Founder Sergey Nazarov believes that increasing the decentralization and scalability of oracle technologies are key to ensure trust in the DeFi ecosystem. Oracles play a key role in the correct functioning of DeFI protocols by connecting them to real-world data. However, the trustworthiness of oracles becomes compromised in instances where they rely on a …

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Google Down: The Perils of Centralization

Google was down for only an hour, but Monday’s outage served as a stark reminder of how much modern existence online depends on the centralized search engine colossus. From Gmail and Google Calendar to YouTube and even Google’s two-factor authentication, the outage temporarily ground online work to a halt for many, including publications that would …

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Multi-utility tokens to enable Web 3.0 by providing more than financial value

Cryptocurrencies are commonly known for being a store of value, but as the blockchain space continues to mature, utility tokens are being created that extend their benefits beyond mere financial gains. Scott Gralnick, director of global partnerships for ShapeShift — a Swiss cryptocurrency exchange — told Cointelegraph that cryptocurrency can help launch Web 3.0 as more …

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What happens to your Bitcoin when you die?

As cryptocurrency investment becomes more and more popular, long-term investors are increasingly concerned with the uncomfortable question: what happens to your Bitcoin (BTC) when you die?  According to a 2020 study by the Cremation Institute, nearly 90% of crypto owners are worried about what happens to their crypto after they pass away. Furthermore, despite a …

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How has the COVID-19 pandemic affected the crypto space? Experts answer

Who could have imagined a year ago how different our lives would be in just 12 months? Without any doubt, last November will remain a significant point in humanity’s history — the time when it all started. Although “patient zero” has not yet been confirmed — if it ever will be at all — we …

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Bretton Woods 2.0 is knocking at our door, and it’s not here to help

Barely 100 years ago at the start of the 20th century, people were able to exchange dollars for gold at their local bank. While gold was too hard to trade between people, banking institutions held gold and gave people cash for it. This was during what was known as the gold standard. Each sovereign currency’s …

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Token Projects Are Not Happy With KuCoin’s Handling of $280M Hack

The latest face-saving communique from Seychelles-domiciled crypto exchange KuCoin – hacked almost two months ago for over $280 million – is that 84% of the affected assets have been recovered. Some victims will be glad the situation seems to be moving towards resolution. Others, not so much. Leaving aside the conspiracy theories, death threats and alleged …

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DeFi needs real-world adoption, not just disruptive pioneering

Satoshi Natakmoto’s anonymity and powerful mining-incentive mechanism are key examples of what made Bitcoin (BTC) unique and led to its unparalleled success. But for truly democratized money and finance to be achieved, it is worth reminding enthusiasts that Bitcoin was an iteration in a series of trials and errors that go back as far as …

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