Wow! this space looks too dusty, its been a while I came here, this is the problem you face when you take a break, you get too comfortable, you go from fighting yourself to take a break then fighting yourself to start being consistent again. I have read a lot in the crypto space but started forgetting to blog them. I have stopped promising to be consistent so as usual I will go with the flow. So welcome to my blog once again. Its time to share one of those things I learnt in the crypto space which is understanding the crypto space and its trilemma. I have noticed that crypto is all about laying emphasis on decentralisation, which is a sentence that supposed to give us hope. No one likes to be entirely controlled, and from todays point of view people are getting controlled through their money. For instance, I can remember when I had issues with my bank and I couldn’t use my funds, I felt like I was being controlled by my bank. sent series of emails to the bank and had to cancel my plans because I couldn’t access my funds. Hearing about decentralisation and how your money and access to your money is being controlled by you is really soothing and encouraging. This is where decentralisation comes to play, control of your money is decided by you and just you to an extent. i also learnt that decentralisation is not just the only attribute of the crypto space but we have scalability and security.
source Decentralisation helps in the aspect of decision making, meaning that if changes are being implemented on the platform or community, a single human entity or power won’t make that decision, they will need the authorisation of others in the community to make that decision and that comes with having a source of voice to be among the decision making committee. I have seen this implemented on Hive in terms of voting and thanks to your hive power your votes will help you count. In terms of security I am yet to completely understand how that works, but I get the idea that it is because of the blockchain technology and how almost unhackable it is. Which is the feature that makes it hard to penetrate or alter information on the chain. Which I can consider pretty cool. decentralisation brings us all together and united in the crypto space. Scalability is another feature in the crypto space that is pretty cool but its limit has not been fully tested yet, for now it seems like ethereum is the one chain that has tested its full scalability potentials, reason layer 2s are being built on it. Oh, yeah, I read about layer 2 and I understood it which is another cool knowledge I have acquired. Layer 2s are second layer chains built on a layer 1 to help support its scabbily like bitcoin cash with Bitcoin, Ethereum classic with Ethereum.