but by selling the tokens they bought cheaply at a profit, plus by selling the tokens they earn for having large amounts of Hive power, they distribute the token. So centralized profits result in decentralized distribution?
Curve Finance is very centralized in it's Curve token ownership or distribution. A large portion of the tokens were allocated to the founder as a founders share. This creates a centralized distribution and a single point of failure.
In fact, cryptocurrency is based on the concept of decentralization, and the concept of too mainy points for failure to occur. It is the core principle of safety behind decentralized distributed systems.
It is an irony of cryptocurrency the decentralized finance is filled with centralized projects, and these are the largest projects in decentralized finance.
So, mining Steem resulted in centralized token distribution, but earning Steem by upvotes results in decentralized distribution? Which continues on the new Steem, Hive?
Nice discussion of centralized security issues. I never read a discussion of Hive and Steem tokenomics being responsible for decentralization of the project. Thats a new concept. Thanks.
but by selling the tokens they bought cheaply at a profit, plus by selling the tokens they earn for having large amounts of Hive power, they distribute the token. So centralized profits result in decentralized distribution?
Calling Curve centralized is a strnong use of words by @theycallmedan ... but I guess if you think something looks like a shovel...
Curve Finance is very centralized in it's Curve token ownership or distribution. A large portion of the tokens were allocated to the founder as a founders share. This creates a centralized distribution and a single point of failure.
This weakness, a single point of failure is a well known vulnerability for all companies since the dawn of time.
In fact, cryptocurrency is based on the concept of decentralization, and the concept of too mainy points for failure to occur. It is the core principle of safety behind decentralized distributed systems.
It is an irony of cryptocurrency the decentralized finance is filled with centralized projects, and these are the largest projects in decentralized finance.
Curve is an example of this failure.
I discus this in my posts.
https://leofinance.io/@shortsegments/curve-defi-centralization-and-hive-decentralization
Hive as a originally centralized, limited distribution token, which becomes a decentralized and distributed token because of it's tokenomics?
So, mining Steem resulted in centralized token distribution, but earning Steem by upvotes results in decentralized distribution? Which continues on the new Steem, Hive?
@theycallmedan tweeted Curve was centralized? Wow the cajones on that guy. I guess he calls them like he sees them.
Nice discussion of centralized security issues. I never read a discussion of Hive and Steem tokenomics being responsible for decentralization of the project. Thats a new concept. Thanks.
Curve is what Curve does. Amirite?
Hive feels decentralized, so this discussion makes sense.