Advantages of Decentralization for Networks and Technology
When discussing decentralized organizations, not every organization will be a company; some will be networks or other nonphysical entities. A decentralized piece of technology, like a network, shares some of the advantages mentioned above. Efficiency, for example. However, it also adds another layer of benefits. Decentralized networks do not have single points of failure. If one node goes down, this does not interrupt the entire network.
For a system-wide failure, every single node needs to fail. For a decentralized network, this would be an extremely unlikely event. Compared to centralized networks, decentralized ones also tend to be more open for development. While centralized networks limit who can access the system, decentralized ones let anyone use the network to create services, products, or tools, benefitting the community as a whole.
On a related note, there is a common misconception that decentralized networks cannot let companies earn money. However, by letting developers build on the network, you increase the usefulness of it, improving the business opportunities. One of the biggest reasons that decentralized networks are growing in popularity is the fact that you do not need to trust a central authority. While we do regularly place trust in companies or governments, there is always a risk of them taking advantage of the data.
As Stated In Our White Paper:
"Governmental and private institutions are becoming increasingly more adept at gathering data on citizens. It has, in fact, become both a science and a business. What data to gather, how to gather and analyze it for practical use. The contemporary media is full of articles on how lines are being crossed and how grey areas lack definition. In addition, passed legislature is allowing for such wide digital surveillance on citizens without justifiable cause, that the old adage “innocent until proven guilty” no longer even applies.
These laws appear to assume malicious intent from each and every citizen, allowing surveillance on a level that presupposes that we are already suspects in ongoing investigations."
Decentralized networks do not have a single entity in charge of the information. This mitigates the risk of your information being misused and eliminates any trust-related concerns. Decentralized networks can also be set up with a more meritocratic structure, reduce censorship, and empower contributors to the network by providing them with ownership of their ideas.