iCash News

De-Centralizing is Not Easy

One of the core beliefs of the Crypto movement is that autonomous and automated processes are best. This involves removing hubs from processes. In many cases there are fast gains in efficiency. It is doubtless true that there are log-jams, errors, and corruptions, of hubs and authorities. We also live in a world built by and around centralized authorities, also known as hubs. Thusly, decentralizing is not easy. Decentralization is a process and not a purity state.

We believe in permissionless systems and complete freedom of expression. We believe in pushing toward an ever more decentralized future. We also believe in driving speed and utility to our users. It is hard to keep these balls in the air while building, iterating, and refining a powerful system of review, contestation, and resolution for smart contracts. Hard, but essential.

At iCash, we hear “How can we decentralize that?” in our sleep. Our Founder keeps the team focused on being true to the community and its ethos. Developers, business development, and token economics are told to build to be able to decentralize if they can’t build decentralized from day 1. Even those of us on the communications team hear the mantra. But, it is hard.

Our prime directive at iCash is to bend a largely centralized data infrastructure toward the service of smart contract operation – at scale. We aim to bring full faith and confidence in the data being chiseled into the ledger. How? Providing trusted and trustworthy, low cost, delegate review and contestation from data inputs to smart contracts. We are sure this is needed, and we are sure the technology finally really allows it. We are excited by the teams we have engaged and have on-deck. This entails some centralization.

A plurality of leading Blockchains have chosen to optimize speed and richness of utility. This decision has been taken, even at the cost of increased centralization. Thusly, there is already some centralization in the system. Our task is to continue to extend Blockchain function while pushing toward ever-greater decentralization. We feel we have arrived at a path toward constantly and mercilessly decreasing the use of hubs and centralized function. At iCash, Decentralization is a process and not a purity state.