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#101 2023-07-22 22:58:53

Vastextension
Member
Registered: 2022-11-19
Posts: 2,625

Re: How to how to use Idyll Browser

full;19160 wrote:
joanna;19159 wrote:
Vastextension;19157 wrote:

The absence of a central authority means that no single entity, including governments, has full control over the network or the currency.

Cryptocurrencies facilitate peer-to-peer transactions without the need for intermediaries like banks or payment processors.

Transactions are verified and recorded on the blockchain by participants in the network, ensuring transparency and removing the reliance on centralized financial system.

Traditional fiat currencies are subject to the control and policies of central banks and governments. In contrast, cryptocurrencies like Bitcoin typically operate based on predetermined algorithms and protocols.

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#102 2023-07-22 22:59:44

full
Member
Registered: 2023-01-06
Posts: 2,407

Re: How to how to use Idyll Browser

Vastextension;19161 wrote:
full;19160 wrote:
joanna;19159 wrote:

Cryptocurrencies facilitate peer-to-peer transactions without the need for intermediaries like banks or payment processors.

Transactions are verified and recorded on the blockchain by participants in the network, ensuring transparency and removing the reliance on centralized financial system.

Traditional fiat currencies are subject to the control and policies of central banks and governments. In contrast, cryptocurrencies like Bitcoin typically operate based on predetermined algorithms and protocols.

Monetary policy, such as the issuance of new coins or adjustments in supply, is often determined by consensus mechanisms within the cryptocurrency network rather than by any central authority.

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#103 2023-07-22 23:00:23

level
Member
Registered: 2023-01-19
Posts: 1,822

Re: How to how to use Idyll Browser

full;19162 wrote:
Vastextension;19161 wrote:
full;19160 wrote:

Transactions are verified and recorded on the blockchain by participants in the network, ensuring transparency and removing the reliance on centralized financial system.

Traditional fiat currencies are subject to the control and policies of central banks and governments. In contrast, cryptocurrencies like Bitcoin typically operate based on predetermined algorithms and protocols.

Monetary policy, such as the issuance of new coins or adjustments in supply, is often determined by consensus mechanisms within the cryptocurrency network rather than by any central authority.

Cryptocurrencies use cryptographic algorithms to secure transactions and maintain the integrity of the network.

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#104 2023-07-22 23:01:00

Vastextension
Member
Registered: 2022-11-19
Posts: 2,625

Re: How to how to use Idyll Browser

level;19163 wrote:
full;19162 wrote:
Vastextension;19161 wrote:

Traditional fiat currencies are subject to the control and policies of central banks and governments. In contrast, cryptocurrencies like Bitcoin typically operate based on predetermined algorithms and protocols.

Monetary policy, such as the issuance of new coins or adjustments in supply, is often determined by consensus mechanisms within the cryptocurrency network rather than by any central authority.

Cryptocurrencies use cryptographic algorithms to secure transactions and maintain the integrity of the network.

This reliance on strong encryption and consensus mechanisms enhances security and trustworthiness without requiring trust in a central entity like a government.

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#105 2023-07-22 23:01:45

full
Member
Registered: 2023-01-06
Posts: 2,407

Re: How to how to use Idyll Browser

Vastextension;19165 wrote:
level;19163 wrote:
full;19162 wrote:

Monetary policy, such as the issuance of new coins or adjustments in supply, is often determined by consensus mechanisms within the cryptocurrency network rather than by any central authority.

Cryptocurrencies use cryptographic algorithms to secure transactions and maintain the integrity of the network.

This reliance on strong encryption and consensus mechanisms enhances security and trustworthiness without requiring trust in a central entity like a government.

Cryptocurrencies aim to provide censorship resistance, meaning that transactions cannot easily be blocked or controlled by any centralized authority.

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#106 2023-07-22 23:02:12

level
Member
Registered: 2023-01-19
Posts: 1,822

Re: How to how to use Idyll Browser

full;19166 wrote:
Vastextension;19165 wrote:
level;19163 wrote:

Cryptocurrencies use cryptographic algorithms to secure transactions and maintain the integrity of the network.

This reliance on strong encryption and consensus mechanisms enhances security and trustworthiness without requiring trust in a central entity like a government.

Cryptocurrencies aim to provide censorship resistance, meaning that transactions cannot easily be blocked or controlled by any centralized authority.

This can be particularly relevant in regions with restrictions on traditional financial systems or limitations on cross-border transactions.

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#107 2023-07-22 23:02:43

Vastextension
Member
Registered: 2022-11-19
Posts: 2,625

Re: How to how to use Idyll Browser

level;19167 wrote:
full;19166 wrote:
Vastextension;19165 wrote:

This reliance on strong encryption and consensus mechanisms enhances security and trustworthiness without requiring trust in a central entity like a government.

Cryptocurrencies aim to provide censorship resistance, meaning that transactions cannot easily be blocked or controlled by any centralized authority.

This can be particularly relevant in regions with restrictions on traditional financial systems or limitations on cross-border transactions.

While cryptocurrencies are intended to be independent of government influence, it's important to note that governments can impose regulations, taxation policies, and other measures that impact the use, trading, and exchanges of cryptocurrencies within their jurisdictions.

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#108 2023-07-22 23:03:11

full
Member
Registered: 2023-01-06
Posts: 2,407

Re: How to how to use Idyll Browser

Vastextension;19168 wrote:
level;19167 wrote:
full;19166 wrote:

Cryptocurrencies aim to provide censorship resistance, meaning that transactions cannot easily be blocked or controlled by any centralized authority.

This can be particularly relevant in regions with restrictions on traditional financial systems or limitations on cross-border transactions.

While cryptocurrencies are intended to be independent of government influence, it's important to note that governments can impose regulations, taxation policies, and other measures that impact the use, trading, and exchanges of cryptocurrencies within their jurisdictions.

Additionally, government bodies may have the ability to influence public perception, create legal frameworks, or initiate investigations related to cryptocurrencies.

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#109 2023-07-22 23:05:28

Vastextension
Member
Registered: 2022-11-19
Posts: 2,625

Re: How to how to use Idyll Browser

full;19169 wrote:
Vastextension;19168 wrote:
level;19167 wrote:

This can be particularly relevant in regions with restrictions on traditional financial systems or limitations on cross-border transactions.

While cryptocurrencies are intended to be independent of government influence, it's important to note that governments can impose regulations, taxation policies, and other measures that impact the use, trading, and exchanges of cryptocurrencies within their jurisdictions.

Additionally, government bodies may have the ability to influence public perception, create legal frameworks, or initiate investigations related to cryptocurrencies.

Therefore, while cryptocurrencies strive for independence, their interactions with governments can vary across different regions and jurisdictions.

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#110 2023-07-23 22:08:11

Detroit
Member
Registered: 2022-12-27
Posts: 1,999

Re: How to how to use Idyll Browser

The crypto sector likes to pride itself on its independence, but it depends on financing from traditional markets. How much of that funding will go into the industries?

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#111 2023-07-30 20:42:24

Hacker
Member
Registered: 2023-07-29
Posts: 18

Re: How to how to use Idyll Browser

Detroit;19294 wrote:

The crypto sector likes to pride itself on its independence, but it depends on financing from traditional markets. How much of that funding will go into the industries?

What industries are you talking about?

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#112 2023-08-02 21:45:06

Kelechi
Member
Registered: 2022-12-25
Posts: 2,969

Re: How to how to use Idyll Browser

Detroit;19294 wrote:

The crypto sector likes to pride itself on its independence, but it depends on financing from traditional markets. How much of that funding will go into the industries?

I don't think you understand what cryptocurrency is all about, there is no industry that is funding cryptocurrency it is completely decentralized.

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#113 2023-08-05 20:54:11

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 3,099

Re: How to how to use Idyll Browser

Kelechi;20002 wrote:
Detroit;19294 wrote:

The crypto sector likes to pride itself on its independence, but it depends on financing from traditional markets. How much of that funding will go into the industries?

I don't think you understand what cryptocurrency is all about, there is no industry that is funding cryptocurrency it is completely decentralized.

Well there are many industries and even countries that would be hoping to get control of crypto-currency and even sponsor it but cryptocurrency is very decentralized so that won't be happening.

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#114 2023-08-05 22:56:28

Vastextension
Member
Registered: 2022-11-19
Posts: 2,625

Re: How to how to use Idyll Browser

CrytoCynthia;20110 wrote:
Kelechi;20002 wrote:
Detroit;19294 wrote:

The crypto sector likes to pride itself on its independence, but it depends on financing from traditional markets. How much of that funding will go into the industries?

I don't think you understand what cryptocurrency is all about, there is no industry that is funding cryptocurrency it is completely decentralized.

Well there are many industries and even countries that would be hoping to get control of crypto-currency and even sponsor it but cryptocurrency is very decentralized so that won't be happening.

Yes, the list of countries and companies which want to get cryptocurrency are many which is why i fear the ETF.
Neverthless, it is notg every crypto that's decentralized.

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#115 2023-08-06 22:27:47

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 3,099

Re: How to how to use Idyll Browser

This ETH is it Decentralized or actually centralized. I see everyone getting excited about it pls I just need some little introduction about what it's all about

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#116 2023-08-13 21:42:47

Kelechi
Member
Registered: 2022-12-25
Posts: 2,969

Re: How to how to use Idyll Browser

CrytoCynthia;20138 wrote:

This ETH is it Decentralized or actually centralized. I see everyone getting excited about it pls I just need some little introduction about what it's all about

ETH you mean Ethereum? Yes it's decentralized but not so hard, it's not controlled by any government but it has an owner and he is not unknown.

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#117 2023-08-13 22:20:39

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 3,099

Re: How to how to use Idyll Browser

Kelechi;20161 wrote:
CrytoCynthia;20138 wrote:

This ETH is it Decentralized or actually centralized. I see everyone getting excited about it pls I just need some little introduction about what it's all about

ETH you mean Ethereum? Yes it's decentralized but not so hard, it's not controlled by any government but it has an owner and he is not unknown.

Well Ethereum is not as popular as it used to be now people are also trying to avoid the unnecessary transfer fee Ethereum has and the more people would have to drop out

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#118 2023-08-15 19:53:17

Kelechi
Member
Registered: 2022-12-25
Posts: 2,969

Re: How to how to use Idyll Browser

CrytoCynthia;20170 wrote:
Kelechi;20161 wrote:
CrytoCynthia;20138 wrote:

This ETH is it Decentralized or actually centralized. I see everyone getting excited about it pls I just need some little introduction about what it's all about

ETH you mean Ethereum? Yes it's decentralized but not so hard, it's not controlled by any government but it has an owner and he is not unknown.

Well Ethereum is not as popular as it used to be now people are also trying to avoid the unnecessary transfer fee Ethereum has and the more people would have to drop out

Well I refuse to agree with you mate I think Ethereum is still as very popular as it has always been and I believe that it's all because of their high transaction fees

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#119 2023-08-15 23:46:34

Vastextension
Member
Registered: 2022-11-19
Posts: 2,625

Re: How to how to use Idyll Browser

CrytoCynthia;20138 wrote:

This ETH is it Decentralized or actually centralized. I see everyone getting excited about it pls I just need some little introduction about what it's all about

Ethereum, in its current state, is considered to be decentralized and centralized by some people base on some certain reasons.

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#120 2023-08-15 23:47:02

level
Member
Registered: 2023-01-19
Posts: 1,822

Re: How to how to use Idyll Browser

Vastextension;20335 wrote:
CrytoCynthia;20138 wrote:

This ETH is it Decentralized or actually centralized. I see everyone getting excited about it pls I just need some little introduction about what it's all about

Ethereum, in its current state, is considered to be decentralized and centralized by some people base on some certain reasons.

However, there are aspects of Ethereum that some might argue contribute to a certain level of centralization or concerns related to centralization.

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#121 2023-08-15 23:47:34

oba
Member
Registered: 2023-01-13
Posts: 1,869

Re: How to how to use Idyll Browser

level;20336 wrote:
Vastextension;20335 wrote:
CrytoCynthia;20138 wrote:

This ETH is it Decentralized or actually centralized. I see everyone getting excited about it pls I just need some little introduction about what it's all about

Ethereum, in its current state, is considered to be decentralized and centralized by some people base on some certain reasons.

However, there are aspects of Ethereum that some might argue contribute to a certain level of centralization or concerns related to centralization.

Some of the factors that may be raised in discussions about Ethereum's centralization are the transition from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) mechanism with Ethereum 2.0.

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#122 2023-08-15 23:48:03

thrive
Member
Registered: 2023-01-04
Posts: 2,530

Re: How to how to use Idyll Browser

oba;20337 wrote:
level;20336 wrote:
Vastextension;20335 wrote:

Ethereum, in its current state, is considered to be decentralized and centralized by some people base on some certain reasons.

However, there are aspects of Ethereum that some might argue contribute to a certain level of centralization or concerns related to centralization.

Some of the factors that may be raised in discussions about Ethereum's centralization are the transition from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) mechanism with Ethereum 2.0.

That's true since PoW involves miners competing to solve complex mathematical puzzles to validate transactions and secure the network.

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#123 2023-08-15 23:48:56

Vastextension
Member
Registered: 2022-11-19
Posts: 2,625

Re: How to how to use Idyll Browser

thrive;20338 wrote:
oba;20337 wrote:
level;20336 wrote:

However, there are aspects of Ethereum that some might argue contribute to a certain level of centralization or concerns related to centralization.

Some of the factors that may be raised in discussions about Ethereum's centralization are the transition from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) mechanism with Ethereum 2.0.

That's true since PoW involves miners competing to solve complex mathematical puzzles to validate transactions and secure the network.

In PoS, validators are chosen to create blocks and approve transactions based on the amount of cryptocurrency they hold and are willing to "stake" as collateral.

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#124 2023-08-15 23:49:22

level
Member
Registered: 2023-01-19
Posts: 1,822

Re: How to how to use Idyll Browser

Vastextension;20339 wrote:
thrive;20338 wrote:
oba;20337 wrote:

Some of the factors that may be raised in discussions about Ethereum's centralization are the transition from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) mechanism with Ethereum 2.0.

That's true since PoW involves miners competing to solve complex mathematical puzzles to validate transactions and secure the network.

In PoS, validators are chosen to create blocks and approve transactions based on the amount of cryptocurrency they hold and are willing to "stake" as collateral.

Critics argue that PoS introduces a level of centralization, as those with larger stakes may have more influence over the network, potentially consolidating power.

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#125 2023-08-15 23:49:55

oba
Member
Registered: 2023-01-13
Posts: 1,869

Re: How to how to use Idyll Browser

level;20340 wrote:
Vastextension;20339 wrote:
thrive;20338 wrote:

That's true since PoW involves miners competing to solve complex mathematical puzzles to validate transactions and secure the network.

In PoS, validators are chosen to create blocks and approve transactions based on the amount of cryptocurrency they hold and are willing to "stake" as collateral.

Critics argue that PoS introduces a level of centralization, as those with larger stakes may have more influence over the network, potentially consolidating power.

In the existing Ethereum PoW system, there are concerns about the concentration of mining power among a few dominant mining pools or entities.

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