This or that: What is your ideal blockchain?

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Avatar for youngdim12
2 years ago

It's been a while that I have been away, i will like to appreciate everyone that keep following me, as well supporting me despite my absence. Without much ado, let me state the muse of this write-up today. firstly it was an event on torum. secondly, I couldn't remember the last time I participated in any writing prompt here. Therefore, I'm making this a challenged and I will appreciate everyone's participation.

The theme will be like This; ''  what is your ideal blockchain? '' you can title your article in whatever way you like.

This is just for fun, and besides it will gives us a chance to read your sentiment and at the same time have an overview of what ideal blockchain is, from your own point of view using the item provided as a head-up.

ITEMS OF THE CHALLENGE
What is your ideal blockchain? Choose What you preferred in each items and tell us why you chose them over the other one.
1, Bitcoin or Ethereum ?
2, Speed or SECURITY?
3, Centralized or Decentralized?
4, Doxxed creators or Anonymous? creators?
5, prove of work (POW) or prove of stake (POS)

If you have any other thing,  you can add, hence you aren't limited to those item above.

BITCOIN OR ETHEREUM ?
Bitcoin is well established and has a strong community, but it’s not perfect. Ethereum offers more flexibility and customizability, which I value over bitcoin’s centralization.

SPEED OR SECURITY ?

I'm going for both, so I want my  ideal blockchain to be secure, and fast, in a way that doesn't interfere with any other systems. I believe security should come first, but I also want to make sure that speed isn't sacrificed in the process.

CENTRALISED OR DECENTRALIZED?
Centralized networks lack accountability and transparency, whereas decentralized systems are more flexible, transparent and fair. So I prefer a decentralized network over a centralized one. I believe that in terms of security, decentralization is always better, because it provides validation and security on group consensus which I think is be key in blockchain technology.

DOXXED CREATOR OR ANONYMOUS CREATOR?

I prefer doxxed creators over anonymous creators. It makes me feel more comfortable having a clearer idea of who is actually behind this project. Therefore, I'd rather support a creator who is willing to speak publicly about their project than the one who is anonymous. To me, doxxed creators are more transparent, open to public scrutiny, and allows people to dig into their history, even if it's messy, while anonymous creators is less likely to reveal any information that would be considered personal information. If someone is anonymous and hasn't been held accountable for their actions, i'm less likely to give them my money and my time.

POS (prove of stake)  OR POW (prove of work)

I think that POW is better in terms of security than POS because POW makes it easy to secure network into a blockchain. The fact that you can increase the number of nodes on the network means that the attack surface of said node will be more limited, therefore less likely to be exploited for malicious purposes. From my point of view, the system goes against the rule of decentralisation because of power of stakeholders in the network. Let say for instance an attacker own 51% of the stake with the complete network of validators, an attacker who owns 51% of the entire stake(as many as the total number of stakeholders) can create fake blocks and propagate them on the blockchain.

To this end, if you ask me how did I want my ideal blockchain to be, then my answer will be this way. My ideal blockchain would be one that is easy to use and reduce any financial risks, as well as one that has more privacy. It should also be anonymous and secured and will provide the most useful cryptocurrency and useful technology. I want to use the product of this blockchain like cash. I want to store some of the products in my bank account as currency, but use it primarily as a store of value, this way I can control the rate of inflation while still having electronic payment options available through my debit card so that I don't have to worry about losing my ability to pay for online purchases.

And I also feel like it should be the most fair and decentralized currency to use. It's
efficient, which means if we all have the same amount each time, we can avoid going into debt for purchases and be able to buy what we need in a timely manner, lol.

Though, what is written above might be little bit different from the general or conventional outlook but this is the way I want it.

Thanks for your time again, it's very much appreciated.

Not everyone notice my write-up, here I will be tagging some friends, please do tag me on your post too. @jane @Eybyoung @Idksamad7869 @bmjc98 @HappyBoy @ Tomi-ajax @BlueFlipper @esmeesmith @tired_momma @Ruffa @Captainkay @LykeLyca @Lixten , I will stop here. Do tag your friend too. Thank you!

Lead image edited.

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2 years ago

Comments

This is fun challenge, let me save this one first 😁

$ 0.02
2 years ago

Good to see you here, will love to see you taking it up as a challenge.

$ 0.00
2 years ago

Good one. Been quite long haven't seen anything like that!

$ 0.02
2 years ago

So let try this, will like to see your own view point.

$ 0.00
2 years ago

Looks like a good challenge to write on :)

$ 0.02
2 years ago

I trust you on this, let keep the trend going.

$ 0.00
2 years ago

Sounds like a great challenge to write for me coz i write pretty random stuffs. Anyway, we'll see...

$ 0.02
2 years ago

Good to hear, I will anticipate your write-up .

$ 0.00
2 years ago

I'll try to do this one of these days. For now, let me save it first. :)

$ 0.02
2 years ago

Alright! Thank you for considering that and will to see your point of view

$ 0.00
2 years ago

Thanks for mentioning, I shall do my best to adopt these questions with Bitcoin as first choice.

$ 0.02
2 years ago

Haha, you are also not limited to bitcoin, you can also use any coin in place of those ones. Thank you.

$ 0.00
2 years ago

Great one bro, why not add Bitcoincash 😁

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2 years ago

Thank you soo much! That was what I included initially but I overcome the sentiment, if you will take up the challenge, you are at liberty to use any cryptocurrency.

$ 0.00
2 years ago