What really does decentralization mean to me?
Well, my brother told me sometimes, you will only appreciate the light because of the darkness and it is true. We’ll only get to understand and appreciate what decentralization means because we have been part of the centralized systems, especially in finance.
You must have experienced sending funds to someone across the border and it took days to complete. Well yea, I had that kind of experience once, and believe me, the rigor is not just in how much was charged per dollar but how much time was wasted on processing documents to be eligible. All these coupled with the fact that Banks complained that was no network service to process these documents- How funny could that be. My only regret later was that I didn’t know about cryptocurrency as at then.
Bitcoin is seen by many as the savior of remittances especially cross-border transactions. To some extent, it has saved a lot but many now see the light as they began to understand that bitcoin ushered us all into a decentralized era, it is not the best solution.
Recurring issues on the Bitcoin Network
Lately, people have been sending transactions on the blockchain network with rather huge fees which has kind of been something quite rare before. I had the same experience a few hours ago, I had spent a few dollars as transaction fees. Yes, tech geeks can explain why that is. Additionally, I wrote about mining centralization a few weeks ago when explaining why I believe Digibyte developers have done a great job solving this issue. You will do well to read it.
It will interest you to know that Digibyte has a static fee per transaction, no matter how huge it may be. I believe this is great coupled with the fact that sending Digibyte is way faster than Bitcoin. You must be interested in knowing about Digibyte, why not read my article here and find out more about it here.
Watch this space for more on Digibyte from me.
Cover Image is courtesy of @FrankeDGB