Crypto Projects Lack Meaningful Decentralization Despite Buzzword Claims, Says Chainlink Co-Founder
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Decentralization is a buzzword touted by crypto advocates but few projects are meaningfully decentralized according to Sergey Nazarov, co-founder of Chainlink.
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Nazarov sees only Bitcoin, Ethereum, and Chainlink as truly decentralized, though Ethereum has centralization problems.
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For Nazarov, decentralization provides security, censorship resistance, and transparency.
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Decentralization is a spectrum; different projects value aspects like security vs censorship resistance differently.
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The crypto industry needs to build reliable decentralized systems, become educated consumers, and end the decentralization buzzword cycle.