Decentralization vs. Democracy in Crypto: Are They the Same Thing?
Within many crypto communities, the words democracy and decentralization are often used interchangeably. They appear to represent well-meaning concepts based on “the power of the people,” and some projects attempt to demonstrate fairness with them. When we hear them together, it becomes tempting to treat them as twins. We can say they do share a house and borrow each other’s clothes, but they’re not the same thing. It’s important to understand that each word emphasizes a different aspect […]