Is Decentralisation The Solution We Think It Is?

Decentralised networks eradicate the ability of any one person to have control over another in any way.

There are different ways decentralisation in blockchain technology has shown itself. Decentralised Apps (DApps), Decentralised Finance (DeFi), Decentralised Autonomous Organisations (DAOs), Decentralised Exchanges (DEXs) etc… There are a lot of blockchain projects making an impact in DeFi like Avalanche (AVAX), Uniswap (UNI), Chainlink (LINK), and a new token Parody Coin (PARO).

Decentralisation As The Future

Although it might seem like it, decentralisation is not as new a concept as people think. Centralised systems became a necessity when there wasn’t enough information readily available. However, with blockchain technology, and the virtual ledger, everything is recorded and information readily available.

Also, due to its distributed nature, there’s a lower chance for failure as even if one or more computers in the network go off, the rest of the system can keep going. This also means that not having all the data stored in a database makes it harder for a hack to happen. Not to mention, personal data will be owned by individuals and not big corporations which puts control back in people’s hands.

It’s not news that whoever controls information might very well control the world. Decentralisation provides a “trustless” environment which essentially means that no one has to trust anyone. Everyone in the network has access to the same data in the form of a distributed ledger.

Then there is decentralised finance (DeFi) which opens up the world in a whole new way. It is borderless; anyone, anywhere with a phone and internet access can use the services without the burden of country laws, border politics, or anything else.

According to a report in 2019 by the Financial Stability Board, DeFi might provide better financial stability and diverse financial structure while reducing the importance of existing industries and the amount of trust that people need to place in them. As mentioned above, there are several projects in DeFi and a promising new one is Parody Coin (PARO).

New Deflationary Token, Parody Coin (PARO) in its Presale Phase

Parody Coin (PARO) is a BEP20 utility token built on Binance Smart Chain (BSC) that will give its users the capacity to mint parodies of popular NFTs and trade them for money. This is a solution to the challenge of high gas fees that makes NFTs inaccessible and incredibly expensive.

The platform will have various avenues for users to make passive income, one of which is its Paroflection which is built on the token reflection model. This means that the fees that users are charged will be split into various branches. Each transaction is charged a 10% tax which is then distributed as; 5% to its token holders, 3% to liquidity pools, and 2% to the coin burn wallet. The token is in its presale phase now and is doing very well.

It is important to note however that with all these advantages and world-changing benefits of decentralisation, it has its issues. Some of which include; high costs, loss of control that might lead to anarchy, misuse of authority, and difficulty in coordination.

Wrapping Up…

With all these possible challenges to decentralisation, could it still be the future like the world hopes? That is a conclusion that must be drawn individually by everyone involved. Individuals will have to decide if they trust in the vision or not. However, we should know that centralisation was also an innovation and for however long, it worked, but not anymore. As humans, change is the only constant thing that exists and it might be time to jump on this one. Decentralisation just might be the future.

For More Information On Parody Coin (PARO)

Presale: https://presale.parodycoin.io/register

Website: https://parodycoin.io/

Telegram: https://t.me/PARODYCOIN_OFFICIAL

Twitter: https://twitter.com/ParodyCoin

Instagram: https://www.instagram.com/parody_coin/