Being coined in the 1820s right after the French revolution, the word “decentralization” stayed dormant for the majority of its existence. In spite of that, its resurface in 2010s caused a major ripple in financial technology (even though the pun was intended, Ripple is ironically one of the lesser decentralized crypto entities).
Prior to the Bitcoin-era, decentralization existed primarily on paper. The brainchild of Satoshi Nakamoto materialized the concept, making it something almost tangible, and what’s more important, tradable.
Some people saw irony in the fact that the decentralized cryptocurrency pretty much only exists (in the form of trading) on the systems of centralized exchanges. “Trading decentralized cryptocurrencies through centralized vendors is, at the very least, counterintuitive!” — they probably thought....
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Genesis Vision Blog - Medium
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