Decentralized applications are erupting out in the world at a very rapid pace. On CoinMarketCap right now, there are more than 2000+ different tokens listed. The incline towards the decentralized world is increasing gradually as problems are starting to rise in the traditional centralized framework. But how would decentralization affect the internet? Here’s what you need to know.
Most of the frameworks that we see on the internet these days are largely centralized. Platforms like Facebook, Twitter, YouTube etc. have large data centers at their backs. But owing to this centralization, platforms like these also carry the attention of the hackers. Since Facebook contains valuable information about different people, hackers can steal information from its data centers and can use it for malicious activities. Data leakage has been reported too often from platforms like Facebook. So how do we protect this data? One way is that we can eliminate the third-parties in charge of such frameworks, the entire essence of decentralization.
Decentralization essentially removes the need of a third-party from a framework and the users of a network come in-charge. Since there are no centralized data storage points that the hackers can attack, data can be secured in some other way.
User data is something that carries extreme value. The internet economy is being run on the advertising cycle and in the world of ads, user data is worth too much. Right now, the centralized services that we are using give the third-parties in-charge the access to our data. In the wrong hands, the sensitive information of the people maintained by third-parties can prove to be catastrophic. Third-parties also oversee our activities. This is the reason why decentralized applications are gaining traction.
Decentralized financial frameworks, decentralized social media networks, and decentralized content-creation applications are being presented forward in order to bring the users of these networks in charge. Blockchain plays a very important role in this regard as it is the core underlying technology beneath decentralization. It is often said by many experts in the game that the future is decentralized.
A trustless system is essentially formed by blockchain where the users do not have to trust a third-party, rather, the trust is put into code and mathematics.
With controversies surrounding the big companies like Facebook, Google etc., it is likely that we will move forward towards more decentralized frameworks in the world of the internet.