What are the advantages of using the blockchain?

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LTBcoin is an amazing project that has helped me rethink altcoins in general. One thing that confuses me is this question: what are the advantages of using a decentralized currency if the distribution of these tokens is centralized?

Posted on March 24, 2014 at 7:00 AM

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adam

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Posts: 1980
Location: California, USA

The only point of centralized risk is the issuance of the token, the trading and ownership are not something anyone at LTB can have control over in a decentralized system.
In a centralized system, all we have to do is shut down the server and everybodys coins are gone. We could do that on purpose because we're dicks, or it could be done to us by an outside force.
Using a blockchain means we don't have to care what happens to them once they leave our direct custody, and in fact we're not creating them until they're leaving our custody. I agree there is still too much trust at that step, we're working towards correcting that.

Posted on March 24, 2014 at 3:18 PM
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