Faith in Hive: An asset where no one is responsible
Do Kown is the ONE responsible for the state of things in Terra-Luna ecosystem now, it seems. At least that's the general perception in social media chatters now.
The possibility of blaming one person does not sound like decentralization at all. And we are talking about a public blockchain project here.
When decisions had to be made by humans, especially in a highly concentrated and central fashion, there is vulnerability to be expected.
Mistakes can be made. To err is human, afterall.
In contrast, an asset that is run by codes, essentially, such as Bitcoin, which runs by 'itself' (through miners, to be exact) is considerably less vulnerable. At least, no single one could be responsible for "the single decision" that could lead to the downfall of the network.
Of course, the assurance comes from the checks and quality of the codes, continually maintained by the decentralized community.
I certainly do not know the mechanism behind the Terra-Luna blockchain operations, and how any decision made by the top brass of Terra-Luna lead to this disaster.
My point is, that there is perhaps a better safeguard in investing in projects that are decentralized in its entirety. Like in Bitcoin, than in Terra-Luna.
When I introduce Hive to my friends, I explained that Hive is like Bitcoin, because it is running on its own without a central organization. Designed to be decentralized based on codes.
Taskmaster's recent post boosted my confidence in Hive as a decentralised asset that is a class of its own.
Could anything go wrong with Hive? Yes, the likelihood cannot be ruled out.
But, for me, my bet is that no single one will be blamed for Hive's downfall.
That's enough.
P/S: Not financial advice at all, please do your own due diligence before investing.
Posted Using LeoFinance Beta
