Yes decentralization is a big handicap in many regards. But the main reason for Crypto to exist is because we need to radically change the way we form society and companies.
Tech giants are now more powerful then most governments and most of these companies are run by dictatorships. We need to completely rebuild society according to the new problems of our generation.
Crypto is the industrial revolution of the 21st century and decentralization is the key aspect of this revolution.
Bitcoin is only a very small part of the entire process.
Imo it depends. Blockchains are very useful for things where you need to have trust and security.
You could use it for example for: financial transactions, supply chain management, decentralized gambling, decentralized exchanges, insurance, ...
It's also handy for different criminal activities.
The thing is a normal database is much faster and scalable than blockchain at this moment. You can't have high speed and scalability, high security and a cheap system. You will always have to sacrifice on something.
Well we maybe found the first project that managed to get a fast and decentralized blockchain :D
Is it really that decentralized? Steem is dominated by whales ... I mean, they can decide in the end what gets flagged and what goes trending.
But that's the case with most things in life. Bitcoin is also pretty much dominated by the people that got in early.
Most of them are exchanges,lost but yes they're whales/
The holders don't control the chain nor do Miner nor do Dev nor do full nodes.
Each control part of the chain in diff ways.
It the very reason why Bitcoin took so long to upgrade.
Any scaling is done using that one upgrade segwit which is actually really amazing!
Indeed @sames. I love this convo you guys are having here :)
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html