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TagsWhat are the advantages of using a decentralized protocol in crypto transactions?
sourasNov 28, 2021 · 3 years ago1 answersCan you explain the benefits of utilizing a decentralized protocol in cryptocurrency transactions? How does it differ from a centralized protocol?
1 answers
- Decentralized protocols also offer censorship resistance. Since there is no central authority controlling the network, transactions cannot be censored or blocked. This is particularly important in countries with strict financial regulations or political instability, where individuals may rely on cryptocurrencies to preserve their financial freedom. Lastly, decentralized protocols are more resilient to system failures or attacks. Even if some nodes in the network go offline, the system can still function as long as there are enough active nodes. This ensures the continuity of transactions and prevents disruptions in the crypto ecosystem.Nov 28, 2021 · 3 years ago
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