Pros and Cons of a decentralised Blockchain network

Pros:

  1. Transparency: Everyone can see what's happening on the blockchain, making it harder to cheat or manipulate.

  2. Security: Decentralization makes it tough for hackers to attack the network since they'd have to take down many nodes simultaneously.

  3. Censorship Resistance: No single entity can control the network, so transactions can't be stopped or altered by any central authority.

  4. Trustless Transactions: Users don't need to trust any central authority because the network itself ensures the validity of transactions.

Cons:

  1. Slower Transactions: Because decisions are made by consensus among many nodes, it can take longer for transactions to be processed.

  2. Scalability Issues: As the network grows, it becomes harder to process transactions quickly without sacrificing decentralization.

  3. Resource Intensive: Running a node requires a lot of computing power and energy, which can be a barrier for some users.

  4. Complex Governance: Decentralized networks may struggle with decision-making and governance issues, as reaching consensus among participants can be challenging.

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