Living in a decentralized world | Enilog

Living in a decentralized world | Enilog

By Eniamza | Enilog | 10 Feb 2021


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The Concept of Future

As the world is progressing towards a more modern global village , believe it or not , the bonding between virtual entities are becoming trustless which is more realistic.

Relying on a single tech giant , lets say Zoogle , is foolish. This dependency allows Zoogle to track each and everything of our day to day life and sell it as products.

Read Here : Revealing Centralization | Enilog to know about demerits.

This is where decentralization comes to rescue. In most cases it's based on a peer to peer network where everyone is owner of their data and hosting them freely.

Lets see some of the arising solutions and primary bases of future.

Mastodon time!

Saw those memes on Zuckerberg reading Private messages? Funny right?

Mastodon is a decentralized solution for hosting your own social media.

Just like there is an installation procedure. Lets say your school works a lot through social medias. Get a VPS , Host mastodon , customize it and your school will have their very own Facebook and you'll be the Zuckerburg!

Re-Invented Media Sharing.

To prevent unethical algorithms and censorships , there are a few hand tailored solution.

  • Odysee : Blockchain Based LBC powered content sharing platform. The advantage is once a content is published only Publisher can remove the content. Odysee is based on LBRY which is a content protocol from future

  • BitTube : Alike Odysee , Bittube also focuses on a crypto currency based censorship resistant platform. But the underlying technology is not quite clear to me

  • Bitchute : After being banned from paypal , Bitchute achieved a numbers of proud goals in censorship resistance , Monetization , Advertisement , Categorizing etc. Worth checking in!

Take Back chat freedom with Decentralized Encryption!

Major Chatting platforms like whatsapp , telegram or channel based solution like Discord , Slack etc has their own demerits. Most common one is centralization obviously . These platforms can monitor your day to day chats even if they say p2p encryption . If FBI knocks , They would probably have to intercept at some point!

But What if we take the power from a single organization and distribute it?

Matrix to the rescue! matrix Moto

Matrix aims to be an open source and self hosted node based communication solution. Now who to knock?

More Privacy focused exchanges!

If you ever roamed in crypto exchanges you probably have heard about KYC [Know your customer] . Well it's not like they are going to ask for your life story rather they would ask for legal documents such as Government issued ID , Driving licenses , Residential Pass etc to verify YOU are YOU! If leaked , these documents can be re produced to create forfeit documents and used in serious criminal acts!

Well I'm not a fan of KYC . So in the list of centralized exchanges , Only Coinex and Binance made through my trusted list.

Read here : [Crypto] CoinEx - A frank review. | Enilog

But lets review some Decentralized ones too!

  • UniSwap V2 - Uniswap is a router based exchange. You can directly connect your wallet [Such as MetaMask] to uniswap and it will try to detect the best route with least fees!

  • 1inch Swap - 1inch Swap is more of a aggregator which also has it's own exchange in two modes Maximum Return and Lowest Gas fees . Though both mode don't defer very much.

  • SushiSwap - Sushi Swap can almost be called identical to Uniswap but with some customization such as slippage tolerance.

As we are talking about some KYC less exchanges , I also love another form of them. Generally called Instant Swap

Not really instant but at least hassle free. In most cases you won't even need to sign up!

  • SimpleSwap - Like all instant exchanges simple swap does the whole process in 4 steps. Deposit , Confirmation , Exchange , Receive. What I like about simple swap is it's customer service and for me its always a friendly guy named "David" well you can try too 😉

  • StealthEX - Identical to SimpleSwap but the fee seems to be higher always when comparing at the same time.

In the end...

Decentralization is fun along with some drawbacks too. The whole system is based on Trustless economy. For example if you pay a designer with bitcoin in advanced you don't know if he will do your work and if he doesn't you can't reverse the transaction. So you would have to transact solely on believing in their reputation.

Crunchy Part

All the websites and services I included here is at least once used by me. And here are some more crunchy resources to give you a head start !

  • KYC Not me! - This site lists advantage and drawbacks of popular crypto related services.
  • Awesome Decentralized - A curated list of awesome decentralized projects.

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