Decentralization is the process of making system where no single entity is able to own the master key and govern the data and overall system; even they created the system. It is a powerful word in today’s society and another feature of Blockchain that makes people hopeful about the future where every individual will have control and power over the internet.
Reasons For Decentralization
The next question is, why is decentralization useful in the first place? There are generally several argument raised:
Online privacy – our internet experience is being censored , whether it is Google or social media giant like Facebook. They hold every user’s full name, date of birth, location, photos, work details, friends, and many other intimate details on their private centralized servers. Such centralized stores of information are often breached by hackers, who either sell the information or use it to commit crimes. The most chilling thing of all is that technically they can do whatever they want with our information. If they will use decentralized servers then our private information would be encrypted.
Attack Resistance – Decentralized system is more expensive to attack and destroy because they lack sensitive central points that can be attacked at much lower cost than the economic size of the surrounding system.
Better control – Decentralization ensures better control and supervision as the subordinates at the lowest level will have the authority to make independent decision.
Relief To Top Management – As discussed, decentralization gives autonomous power to subordinates. Under this, they have the freedom to take decision and act within the limit set by the superiors without frequent supervision by the superiors. All in all, decentralization allows the top management to focus on policy decisions rather than dealing with both policy and operational decision
Is this something to do with the word “Blockchain” ?
Blockchain technology is the secure, encrypted technology that
cryptocurrencies such as Bitcoin and Ethereum. It provides a
decentralized public digital ledger of transactions, which tracks
ownership security in an environment without trust. While the first
application of blockchain technology is now finding application in the
development of the DWeb including recording the movement of data,
registering unique user name and even data storage. There are also
cryptocurrencies themselves being deployed to help create the DWeb.
Required knowledge or Expertise:
Some of the basic skills that will aid in becoming a successful blockchain developer are:
Strong background in software development.
Experience working with open- source projects.
Experience working with large codebase.
Strong knowledge of data structures and algorithms.
Proficiency in programming languages such as C++, Java, JavaScript, etc.
Familiarity with the working of peer-to-peer networks.
Familiarity with basic cryptography.
Top skills that a blockchain developer must have:
Data structures
Blockchain Architecture
Smart Contract Development
Web Development
Cryptography
Benefits Of Decentralization
User don’t have to trust in a central authority- Decentralization solves trust issues by empowering multiple participants to manage a network.
Lowers risk of system failure- In decentralized networks, no one node going down can take down the entire network, so no matter how many users come and go, your application should remain up and running.
There is less censorship- It is far more difficult to censor traffic on peer-to-peer network, in which every single outbound packet being sent could be communicating with another peer on the decentralized network, who can then forward that message along. So it is not easy to shut down access to anything for one’s own benefit.
Error mitigation- In centralized system, if any big mistake is made by any employee, it can cripple the whole system. But in decentralized network, we don’t have to worry about that one big mistake.
Flexibility- Decentralized organization have a great deal of flexibility compared to centralized ones. They can adapt to change or make decisions quickly, instead of putting every decision through a rigorous bureaucratic review.
Market Demand
Market demand for this is very high as many people’s data is not safe and everyone wants privacy and be in a system where there is less censorship, less risk of system failure and less fear of getting hacked.
Right now you must be wondering, if this is so good then what’s holding it back?
First it is more difficult to build a decentralized web because everything isn’t in one place and people are used to doing all things in one place. Decentralized network requires more machine, which means more maintenance and potential issues, SO it is usually more expensive.
Final Thoughts
As we can see, decentralized network has both advantages and disadvantages. In this era everyone wants less disturbance, less censorship and more privacy. Everyone wants to avoid getting hacked. If we talk about disadvantages, it can be improved with time and maybe in future it can be more affordable. SO it can be said that decentralization will be the future of web.