When it comes to crypto, there is one word that is always repeated:
Decentralization.
Decentralized.
But the more it is mentioned,
the less people seem to understand what it is.
If you ask ten people,
you are likely to get ten different definitions.
Some say: it is a network with thousands of nodes.
Others argue: the less concentrated power, the more decentralized.
Some say: it is blockchain, open source, transparent technology.
Sounds reasonable.
But they are all wrong.
Not wrong because of the content,
but because of the perspective.
They describe the manifestation.
Do not touch the essence.
Decentralization, in fact, is very simple.
It only answers one question:
Who controls this network?
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Take Bitcoin as an example.
Who controls Bitcoin?
No one.
You can't send a complaint email to Bitcoin's CEO.
Cannot force it to stop operating.
Cannot force it to change the source code to your liking.
Bitcoin operates like an autonomous machine.
Protected by algorithms.
Maintained by the community.
And does not depend on any organization or individual.
Now imagine Amazon releases AmazonCoin.
They use blockchain.
There are thousands of nodes.
Announce to the press that this is a 'decentralized' token.
Sounds good?
But if Jeff Bezos –
or a group of leaders can:
– changing supply,
– changing network rules,
– locking user accounts…
Then I'm sorry.
That is not decentralization.
Even if it has a blockchain.
Even if it has a smart contract.
Even if it has a very 'Web3' slogan.
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Decentralization is not in technology.
It lies in power.
More specifically,
it lies in the ability to give up power.
And that's why Bitcoin remains the gold standard of decentralization.
Because its creator – Satoshi – has disappeared.
The same power.
The same identity.
The same control.
The SEC and financial regulators understand this very well.
So they always ask:
"Is this network truly decentralized,
or just decentralized on paper?"
If you still hold control,
you must comply with securities laws.
Because you are owning something you can control.
But if you have completely relinquished power,
you are no longer the owner.
You cannot be held accountable for something beyond your control.
The issue is:
Giving up power is very difficult.
Humans tend to hold onto it.
Crypto projects are the same.
They promise decentralization.
But still want to keep the admin key.
Still want more voting rights than others.
Still want to 'turn off the network if needed'.
---
And that is the paradox.
The Web3 world talks about decentralization.
But everyone wants to keep the biggest piece of the pie.
So… what should we do?
Very simple:
Ask the right question:
"Who is controlling this network?"
If the answer is:
"No one."
You have found true decentralization.
But if it is:
an individual,
a group of people,
a DAO with overwhelming power...
Even if the system has millions of nodes,
it is still not decentralization.
Decentralization is not a destination.
It is a process.
And sometimes,
it is a kind of courage:
Courage to let go of power.
Before you trust a project,
ask yourself:
You are believing in decentralization,
or are you just believing in those who are controlling it?
