CryptoArt: decentralized Blockchain, cyberpunk style
This Artwork I created yesterday. For those who maybe don't now the differences of centralised and decentralized, let me explain...
What exactly is blockchain?
A #blockchain is a #cryptographic #tool that #stores #information such as the #content of contracts, #financial #transactions or securities, digitally in so-called blocks in a #decentralized manner.
Decentralized means that the information is stored not on one, but many servers and each user has the same access rights. Each of the blocks is always linked to a previous block. This creates a chain, and the chaining of the individual blocks creates a verifiable history.
On rewarding platforms this means, on a decentralized platform, that you can see every vote, comment and transaction in the blocks. Not only the user himself, but everyone who wants to see it.
By "sealing" each block, the information contained in it is verified and stored immutably.
This makes the blockchain a neutral system for processing information that cannot be #manipulated or #hacked
But it is also called "big brother" because everything is stored on the blocks once written.
#Centralization would be if you can't check what's going on behind the #frontend or if erroneous information has been stored.
A Dapp, an application on a blockchain, must ensure if decentralized that the blocks are stored according to the truth and one can trace the #history back to the beginning. If a #Dapp cannot do this, it is not truly decentralized.
But what else is important to know?
#Liquidity is a very #important #factor in cryptocurrency/ blockchain projects.
The #tradability of the #tokens is a must! Also that a #pool is sufficiently filled.
This also strengthens the liquidity of investors. #Investors are thus flexible and can sell their share at short terms if they like. On the other hand, thanks to tokenization, there is always the #possibility to enter ongoing #projects by buying digital shares or their tokens/ coins.
A real, potential investor therefore always checks the liquidity. No investor wants to wait and hope to get rid of his investment, and certainly not for too low a price.
So, always check the project, the liquidity and of course if it is centralized or decentralized. Then you know at least where you are and there is no bad awakening...
Happy trading to all of ya. Block on.
Lol
😅🙏🏼😋