Blog
26 december 2018
Avoiding the Problem of Creeping Centralization
John McAfee cogently sums up the philosophical position that catalyzed the blockchain revolution in the beginning: “We are at war.
With Banks. With Governments. With the entire, corrupt system of power. If you deny this, you have been asleep. The questions are:
Will you stand up? And if so, with whom?”
With blockchain already ten years old, the question of motives and incentives remains as potent as ever. With the rampant speculation and profiteering that has sidetracked and even derailed much of the decentralizing revolution, it is important that we remind ourselves what we stand for and what we are against.
Contrary to popular belief, cryptocurrency is not about profiteering and get rich quick schemes. The original vision that drove Satoshi’s creative power forward was about decentralization and democratization. Given these values, it is increasingly ironic to see most cryptocurrencies beholden to centralized mining pools and master node operators who throttle networks by charging high processing fees. Such measures are not unlike the central banking system blockchain was meant to disrupt, and by over empowering node owners and miners, there is ample room to fear that crypto is coming full circle.
ECR.money, the cryptocurrency and business-focused payment processor, continues to be inspired by the decentralizing and democratizing values that kickstarted the blockchain movement. ECR.money is committed to upholding these values by maintaining a zero-fee transaction and fully scalable transaction ecosystem. ECR.money has chosen not to sacrifice the financial integrity of its network by overcompensating miners and node operators at the expense of real businesses and consumers. Instead of stifling global business, ECR.money offers businesses extreme flexibility through a highly-secure distributed digital currency with zero-fees.
The benefits of prioritizing financial integrity over mining and node centralization are more than simply good business, it is also good for the planet. ECR.money’s progressive vision for the future of blockchain is one that does not include massive energy consumption and expensive mining equipment. With ECR.money, anyone can contribute to the network’s integrity by hosting a node, and, as a fully pre-mined cryptocurrency, there is no need for wasteful, energy-intensive competition.
For more information on ECR.money, visit www.ecr.money to view the whitepaper, roadmap, and transaction data. Interested parties can also visit ECR’s Github to view the ECR blockchain source code and a rich history of 14,000+ commits from over 400 contributors.
Back to Blog
With blockchain already ten years old, the question of motives and incentives remains as potent as ever. With the rampant speculation and profiteering that has sidetracked and even derailed much of the decentralizing revolution, it is important that we remind ourselves what we stand for and what we are against.
Contrary to popular belief, cryptocurrency is not about profiteering and get rich quick schemes. The original vision that drove Satoshi’s creative power forward was about decentralization and democratization. Given these values, it is increasingly ironic to see most cryptocurrencies beholden to centralized mining pools and master node operators who throttle networks by charging high processing fees. Such measures are not unlike the central banking system blockchain was meant to disrupt, and by over empowering node owners and miners, there is ample room to fear that crypto is coming full circle.
ECR.money, the cryptocurrency and business-focused payment processor, continues to be inspired by the decentralizing and democratizing values that kickstarted the blockchain movement. ECR.money is committed to upholding these values by maintaining a zero-fee transaction and fully scalable transaction ecosystem. ECR.money has chosen not to sacrifice the financial integrity of its network by overcompensating miners and node operators at the expense of real businesses and consumers. Instead of stifling global business, ECR.money offers businesses extreme flexibility through a highly-secure distributed digital currency with zero-fees.
The benefits of prioritizing financial integrity over mining and node centralization are more than simply good business, it is also good for the planet. ECR.money’s progressive vision for the future of blockchain is one that does not include massive energy consumption and expensive mining equipment. With ECR.money, anyone can contribute to the network’s integrity by hosting a node, and, as a fully pre-mined cryptocurrency, there is no need for wasteful, energy-intensive competition.
For more information on ECR.money, visit www.ecr.money to view the whitepaper, roadmap, and transaction data. Interested parties can also visit ECR’s Github to view the ECR blockchain source code and a rich history of 14,000+ commits from over 400 contributors.
