Introduction

What Is Decentralization In Blockchain? Looking back at the history of technological advancements, it is reasonable to believe that we have come a long way since the arrival of the internet. The internet is evolving and trying to become more conducive for users. However, computers and models behind the internet we see today are a long way from processing data and communicating them to users.

Most importantly, the internet and the collection of digital services you find on it are under the control of big companies. This is where the concept of decentralization in blockchain serves a vital role in defining an important change for the future of technology. The following discussion aims to present an explanation for decentralization and how it serves notable value benefits. In addition, you can also learn about how decentralization works through different methods.

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Where did Decentralization Come From? Many people must have curiosity regarding the reasons for the sudden growth in the popularity of blockchain technology and decentralization. Blockchain introduced the concept of peer-to-peer digital tools that can help in distributing power and information alongside opening new roads for collaboration. The benefits of decentralization blockchain depend on the peer-to-peer model, which takes away the authority of single or external powers.

Blockchain established the concept of running the network in accordance with a specific set of rules decided by the network members. You can notice how decentralization is an inherent trait of blockchain technology. As a matter of fact, the primary value proposition of blockchain technology involves better efficiency, equitability, and transparency in the exchange of value and information. Decentralization delivers the ideal foundation for the value benefits of blockchain, fuelling collaboration and removing centralized authorities.

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What is the Impact of Decentralization? As you can notice, decentralization works like a sliding scale with varying impacts on different levels. What are the notable areas you can influence with decentralization? Here is an outline of the specific areas under the impact of decentralization.

Business Components The main entry among methods of decentralization in the blockchain would refer to business decentralization. It refers to the process of eliminating centralized and single-party processes through the use of smart contracts. Blockchain could eliminate the central party which takes control or ownership of all the data or assets of a business.

Disintermediation, where two parties interact directly with each other, is a new trend in the world of business. Almost 5% of the blockchain use cases of businesses focus on business decentralization, with a priority on removing unwanted middlemen and centralized control. [2]

Methodology

This dashboard aims to investigate the Flow's staking actions and amount and its related metrics' progress over time . the first tab , discusses about staked amount and its ratio in general and over time . then , you can find the First time stakers vs older ones and compare them in some metrics . the other part also talks about 2022 and 2023 and compares the first quarter of them in terms of stake amount,stakers and nodes in order to have a better prespective of how decentralization has been grown in 2023 vs 2022. the other tab compares Flow to other chains like Axelar , Near and Osmosis in terms of total stakers , staking actions and nodes and other related metrics. hope you find it enjoyable !