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today we're going to talk about the topic of mass up
[UM] and when it comes to crypto currencies because this is
i'm not pig a lot of people have talked about over time it is a popular topic of discussion of
marco currency enthusiasts who often believed that blocked chain technology will
noise many legacy technologies and as a
all this will cause the prices overturn
cs to soar because too many you see is the
blocked change technology and the reward crypto currency for producing
blog says inseparable without this reward there is no secured
decentralized blocking and while other forms of
not chains exists such as permission block chains like hyper leisure
these blocks change take a significant amount of decentralization away which is
so often sounded as the single greatest benefit of public permission us block chains like between however a key question
and that's often avoided by most krypton enthusiast is whether an hour decentralization and mass adoption is
possible so let's start their while decentralization offers better control over privacy data and often has
better security there are some serious downsides as well and notably performance will generally become wars for
the decentralized system because in order for it to work it
it must reach consensus among all of its participants now this is
a relatively easy task to achieve in a centralized system
where any participant we'll be able to look to a central authority for information
related to the state of the system now the downside here of course is that the central authorities easily corruptible or vulnerable to
attack in a decentralized system
participants rely on a set of rules to achieve consensus on the state of the system
there is no central authority each or request this information from and for a big coined the set of rules is mostly
the governed by the proof of work algorithm the process of creating blocks and then changing of these blocks to create the block chain proof of work
is a way to fairly and it turns out not to be so far but it attempts to fairly distribute
without the responsibility of creating blocks for the network based on computing power or half rate and
this is a critical role because these blocks or handed together to create the block change that we all talk about which acts as the end will be
well authority for begin and most other crypto currencies now technically for any work
color crypto currency there is multiple block chains when i refer to block and i am referring to the longest one with the most for put into it this is the one that is accepted by all the nose
which are just computers on the network or sometimes you heard too
participants and they are used by these nodes too
except the current state of the system or understand the current state of the system
you'll note that this process is much more complex than it is very centralized
system as it is important in a decentralized system that all the news
three without any of them having us or a t over another in other words there all equals there's
the non analogy that might help and understanding why decentralization is simply law sufficient
imagine that there's two crowds and they boulder comprised of aids
some people you have one goal with both of these crowds you want them all to say the same word and it could be any word at all
at the same time in the first scenario you have a central coordinator who stands in front of the crowd
the shelves over a microphone the word that they should all say and let's say that word his dog now unless this
about is particularly ratty and we're going to ignore that possibility because it actually is feasible and a computer setting it should be
a fairly simple task for the entire crowd to repeat the word dog and when the challenge
for the second crowd there is no central coordinator every member in the crowd
but has a sheet of paper that tells them the challenge that they're all supposed to say the same word at the same
time so what happens well
a few people say the first word that comes into their mind and then their neighbors start repeating that word and naturally a few groups will begin to form and they're all chancing different words
and then these groups will start to meet up against each other and they will say they're word until one group gives
and starts chancing the other words and eventually will have this cascade effect
where everyone will get on the same page and say the same war
but as you can imagine this process will take quite a bit more time than it did in this scenario with the central authority now fortunately
the real world we have a better process them what i just explained.
