What Is Real Decentralization?

One of the reasons for the rise of Bitcoin and blockchain technology is that they are decentralized. What does decentralization really mean?

P2P transactions are possible: there is no intermediary that can cancel or somehow interfere with the operation.

All transaction history within the blockchain is tracked and cannot be changed, since it is stored by independent nodes.

The number of nodes with equal rights is not limited (unless this is prescribed by the blockchain).

P2P Transactions

When you make a purchase in the store with your credit card, there are several intermediaries participating in the transaction:

Credit Card Payment Scheme

Moving these transactions to the blockchain allows transactions to occur with 0 intermediaries, as no other participants are needed. This eradicates the middlemen and their high fees by eliminating the need to rely upon intermediaries. Correspondingly, the process is more rapid and optimized.

As transaction histories are stored by independent nodes in hashes, there is no way to abuse the system, or for network participants to carry out fraudulent activities. You can track previous transactions and be assured that preexisting chains are legitimate with respect to their transaction parties’ privacy.

Equality of Nodes

All nodes store the same data for each transaction, or at least the required part in the case of light nodes, so they can check each other to guarantee the proof of previous transactions in the network.

Real Decentralization Issues

In order to reach full decentralization, there are a couple of issues that need to be resolved to guarantee stability of the network:

scalability

the number of independent nodes

Scalability

Scalability issues are usually correlated to the consensus type and DLT technology chosen for the specified blockchain. For example, Bitcoin blockchain with PoW (proof-of-work) consensus can process 7 transactions per second, while an IOTA tangle with aBFT consensus type (asynchronous Byzantine Fault Tolerance) can theoretically process hundreds of thousands of transactions per second.

There are two known ways to solve scalability issues:

sharding

the use of side chains

Number of Independent Nodes

The number of independent nodes is vital, as the more nodes there are, the less probability there is of a 51% attack, which is a nightmare for all who deal with blockchain.

Many blockchain projects with reliable consensus implemented and enhanced security seek ways to increase the number of independent nodes, as this is the best way to guarantee future participants’ safety in the network and immunity to abuse.

One way to address the issue regarding the number of nodes (number of network members) globally is to bring in mobile mining and make it profitable for miners.

The Reasons Why Enhanced Mobile Mining Can Help Us Build a more Decentralized World

Cryptocurrency mining is typically the sharing of computational powers from devices within a specified network.

Usually, mining is treated as a way to earn some cash — people construct mining farms, or rent computational power and use it to mine cryptocurrencies. Over time, mining complexity has grown. Today, using personal computers and mobile devices for mining is not profitable, and, in fact, may incur a miner added electrical costs that are not even covered. This leaves miners unable to break even with their mining earnings.

To build a truly decentralized world, we need more people to participate in blockchain projects so there can be more independent nodes and users. For example, if Ethereum did not have more than 20,000 independent nodes, it would be treated as less secure network.

As of yet, the world is not really decentralized. There was a lot of hype about Bitcoin recently, but that’s all.

Mobile mining could offer a solution to the issue of the number of independent nodes by bringing more people onto the network through existing infrastructures.

Why Mobile Mining Is the Only Way Forward

While the number of internet users increases everyday, the number of people in the crypto industry is still small. A recent Finder survey reported that only 8% of U.S. citizens own crypto, and 8% plan on buying. This can be explained by the following:

There is limited Internet access worldwide. Not all people have PCs and smartphones. Lack of knowledge and limited exposure.

The number of people gaining access to the internet worldwide is increasing, as is the number of smartphone owners. So where do we stand with mining crypto? The infrastructure is there, but not the knowledge.

Number of smartphone users in billions (2014–2020).

To address this, there need to be projects that make it easy and profitable for smartphone owners to start mining with their devices. This is a complicated task today, as the complexity of mining is high. In the case of Ethereum, the requirements for the computational power of nodes are too complex, as they are used for the execution of smart contracts.

It is also worth mentioning that mobile mining can make use of extraneous, unused computational power. As mobile devices and PCs are not utilized 100% year-round, this makes a huge amount of computational capacity inaccessible for valuable operations. The cloud’s map-reduce function allows miners to utilize PC power while they are not using it. However, mobile devices are not powerful enough to participate in parallel computation, while PCs and ASICs are used for mining for more useful tasks. Simple scripts for mobile devices allow the utilization of their capacity to mine, and for the support of distributed networks and general transactions on the blockchain. The rest of the computational power can be used for smart-contract execution or parallel programming.

How Can FreeCash Provide Real Decentralization?

FreeCash is an online casino platform with a winners-only policy aimed to get more people engaged in mobile mining. All you need is a smartphone and access to the Internet

Let’s start with this model. A player installs an app and chooses a game to play. During game time, a player is mining coins, and he or she can play only with what he/she has mined. So he/she has to mine in order to play, and has to play in order to mine. While gaming, he/she can win millions without making any deposits. In the meantime, he/she cannot lose a cent, because everything he/she plays is mined while he/she is playing.

How FreeCash Works

A player can withdraw what he or she has won from the in-app wallet. FreeCash will issue PRIZE as an internal token, which can be then withdrawn and exchanged for other cryptocurrencies or prizes, or cashed out. People who download the FreeCash app get access to crypto markets in an easy, fun interface with no prerequisite of prior knowledge.

For the majority of people in our world who do not have a technological background, this is the easiest way to become a part of the new decentralized world. With the help of FreeCash, they can improve their financial situation and access all of the advantages of decentralization.

Conclusion

One way to secure decentralization in the world is to engage more people in mobile mining, thereby increasing the number of independent nodes to secure the privacy and safety of the blockchain. FreeCash is one project that aims to bring a whole new market segment into the crypto space, increasing the number of independent nodes and securing the blockchain by playing games.