In decentralization, we trust, and in our community, we believe!
This interview is part of the #Decentralized-Internet writing contest! For those who are reading about it for the first time, HackerNoon has built a partnership with Everscale (Formerly Free Ton) - a decentralized, community-powered blockchain movement for free internet! This is the last month to participate in the contest. You can see all #Decentralized-Internet stories here.
So without further ado, let’s start the interview.
My name is Devendra Singh Khati. I have been working in the Defi and Crypto domain for
the past year. I did my bachelor's in 2018 and finished post-graduation in 2020. I started out my career as a financial planner, then switched to marketing for Defi and the crypto industry.
Companies like Facebook and Google have begun to dominate the services that support the internet over the years. These firms control a major portion of their customers' attention and data, and other companies pay them large sums to boost their profile and have their material discovered on their networks.
This enormous amount of power has transformed these firms into information gatekeepers, and we must trust them to utilize their position properly and responsibly.
Another issue with today's centralized systems is that they are built on centralized designs. Every internet corporation maintains its own data centers, where it keeps customer data and runs its programs. This raises significant security and privacy concerns.
Centralized architectures raise major privacy risks. Users have little or no knowledge of what happens behind the walls of centralized systems. As a result, individuals have no idea how much data these services collect about them or what they use it for.
Having control over our data, privacy, and freedom.
It makes an effort to meet the many conditions for participation, independence, and status.
Decentralization also fosters a sense of group cohesion and spirit.
Users have more power and autonomy in decentralized networks. An individual can create their own network and decide how it will function and what users will be able to say. Rather than having content regulated by a business, the founder of a federated social network can define the site's acceptable behavior.
Decentralization indicates that the Internet is managed by a large number of people. It is made up of millions of devices that are linked together in an open network. Nobody can own it, govern it, or turn it off for everyone. I am in control of what, I do; complete autonomy over my web footprints.
Yes, I am working at a cryptocurrency exchange called BuyUcoin. BuyUcoin is one of the prominent exchanges in India.
The fear to lose control over the data by the government and the tech giants that sell our data.
In a decentralized internet future, users manage their own data and move from social media to email to shopping with a single personalized account, producing a public record of all of that activity on the blockchain.
Decentralization results in fewer hierarchical levels due to the broader scope of management. As intimate ties develop between bosses and subordinates, the communication system becomes more efficient.
You have an option, much like with Internet layers: you can run the same software over quicker, cheaper connections, or you can run the same app over more or less secure, more or less available, more or less backed up shops, and so on.