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Where in the World Is Your Blockchain? (And Why It Might Matter More Than You Think)
- Geographical decentralization is a key aspect in the world of blockchain technology. It involves all the different layers in the system and includes resources such as hashing power and tokens. However, there is a tendency for centralization to occur due to economic, technological, and sociopolitical factors.
- There are two main threats posed by geographical centralization: physical hazards and legal impediments. Physical hazards refer to the risk of infrastructure damage or network disruption due to concentrated areas of the system. Legal compliance, on the other hand, can lead to restrictions or subversion of certain layers of the system in specific jurisdictions.
- Geographical concentration of nodes can result in single points of failure, impacting safety, liveness, and stability of the ledger. Legal pressures can also have consequences on the system, affecting different properties such as mining, software access, and asset ownership. Upholding the properties of a system is more likely when it falls under multiple jurisdictions.
- Geographical decentralization plays a crucial role in the world of blockchain technology, and understanding its implications is important for maintaining the integrity and security of the system.
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