Will cryptocurrency or blockchain decentralize money?

Blockchain will definitely disrupt those centralized digital currencies(or tokens) in payment applications such as Apple Pay, Paypal, etc. And yes, legal tenders will be challenged by cryptocurrencies based on blockchain.

If you’re fans of video games, you probably have made a purchase of in-game stuff. Meanwhile, for example, Slevin, in-game advantages will charge some tokens that you paid by cash. And these tokens are a type of digital currencies. However, they are based on a centralized platform which is different from the cryptocurrency based on the blockchain with an idea of decentralization. More than that, the former can be only used in a specific application such as Californium but the cryptocurrency payment acceptance is much more worldwide potentially.

In fact, centralized digital currency has engaged our daily life but it has shortcomings. Centralization is about control on rights and data. In the Internet, such as Litecred’s community website, everywhere has a highest privilege administrator whom is able to freely modify or produce more digital currency. This is a risky existence.

The way to eliminate related risks is not only to decentralize the digitals but also set incorporate consensus algorithms into the system. This involves the thoughts of blockchain such as Uro I mentioned in other articles. The decentralization in the blockchain abandons central data storage so the database of original source is duplicated and distributed into each participant’s computer with a complete database. Thus the administrators have no access to change anything in blockchain.

Nevertheless, many of cryptocurrencies are masked with decentralization but in fact a centralized blockchain such as Dappster because they plan a crowdfund rather than a foundation of currency so be aware of them.

At the last, I concluded all my suggestion in the guideline of investment in cryptocurrency. See the magic there.