Peer-to-Peer Internet Has Lofty Goal to Bring True Decentralization

Decentralization is one of the most important benefits promised by blockchain, as the technology aims to distribute and disperse power away from central authorities. Bitcoin, for example, was designed as a decentralized alternative to government-backed money.

However, many blockchain systems currently run on centralized cloud platforms. It’s been noted that over 60% of all Ethereum nodes rely on cloud-based services, with 25% running on Amazon Web Services, or AWS. As a result, these blockchain networks are vulnerable to policy changes and adjustments made from Amazon. This also leads to the question of whether these systems and their associated cryptocurrencies are truly decentralized.

Kristof De Spiegeleer, the co-founder and CEO of ThreeFold, told Cointelegraph that since 2016, he has been building a peer-to-peer internet to create a truly decentralized global web architecture:

“Currently, less than 20 companies in the world own more than 80% of the internet’s capacity. Data also resides in huge data centers, where 5 to 10% of the world’s electricity goes, a number which will grow in the coming years. Today, we don’t own our data or the applications on our phones.”

Spiegeleer, who previously worked on developing the internet ecosystem, explained that the internet was originally created to provide a platform for free communication and the exchange of values and goods. He plans to restore this through a new peer-to-peer internet where centralized data centers are replaced by a grid of nodes distributed across the world.

style=”display:block; text-align:center;” data-ad-layout=”in-article” data-ad-format=”fluid” data-ad-client=”ca-pub-4791668236379065″ data-ad-slot=”8840547438″>,

If reproduced, please indicate the source:

Leave a Reply

Your email address will not be published.