Decentralization has become the latest buzz word and major credit goes to blockchain technology. Some people, particularly the newbies, assume that decentralization is a recent thing, but it’s not. In fact, various tech giants, startups and well-established organizations have been pursuing and implementing it for several decades now. The reason is pretty straightforward — security.

Since cybersecurity incidents have boomed recently and crypto is quite popular, decentralization is being practiced at a massive scale now.

Let’s have a detailed look as to why Tarush is a ‘decentralization-freak’.

Immutability

It is also referred to as data integrity and as you must have guessed, it implies that if the data is uploaded in storage once, it must not be altered by anyone. Unfortunately, traditional databases are prone to such attacks and hence, it is a risk to upload confidential data in such an environment.

However, blockchain offers a futuristic solution and the credit mainly goes to its decentralized nature, which makes it (almost) impossible to hack. There is no way you or anyone else (in or outside the network) could ever change the details once registered on the blockchain.

Just to build a perspective, let’s discuss an example.

For instance, you wish to register your account on Tarush and you have provided your name, email, and password. Your account is created and the provided details have also been uploaded to the network. There is no going back now. However, if you ever wish to add your DoB or any other information for that matter, you can always do that and the change(s) will be reflected in real time.

In organizations where traditional databases are used for storage, privileged positions can always make changes or request certain modifications in the database and it’s quite easy to do. However, in the blockchain, even if a CEO desires to make an alteration to existing records, it is impossible to do since the entire technology is decentralized and does not ‘obey’ a single person.

Reliability

In this economy, nobody can afford downtime. Let it be a business itself or the customers, downtime could be catastrophic. This con is effectively tackled in a blockchain environment since there is no single point of failure.

Sounds confusing? No worries.

See, if the entire network of company A is running on a handful of servers, let’s say 5, it is quite easy for a hacker to take the business down and cause a huge cybersecurity incident. However, in a blockchain based environment, every node is considered a server and in order to hack such a network, the hacker must have at least 51% of the power. It implies that if Tarush has a million users, then in order to ‘forge’ anything, the hacker would have to control at least 510,000 users at the same time.

That’s only for hacking or forging. If taking down an entire network is the motive, every single node must be compromised — which is equivalent to a million decentralized servers in this example!

Transparency

There are plenty of crypto ventures in the niche which market themselves as being fully decentralized, yet introduce a core management team. Tarush finds that funny in certain parameters. In our opinion, there should not be a ‘core’ team sitting in ‘an office’. We believe in a project where every single user is a stakeholder and the decisions are approved and executed with the consensus of the community.

We have seen an array of organizations where people, particularly the top management, misuse the power for personal gains. Of course, this is wrong but there wasn’t a mainstream procedure or technology to tackle such an issue.

Now, with the help of blockchain, Tarush can ensure that nobody misuses the power. Moreover, all the actions taken by anyone registered on the network are recorded on a public ledger where everyone can review. It does not only boost transparency but facilitates accountability as well.

No censorship

Blockchain-based networks cannot be shut down by anyone since these are not boundary-dependent. You must have seen that governments and organizations often take down a network if THEY find it against their interests. That’s because, within a geographical boundary, governments can do whatever they want.

But what if a system is decentralized? Which government would have access to it? The governments can only be a part of a crypto token and foster its growth or stay aside. Their scope cannot go beyond that. There is no law to stop the operations of a decentralized venture.

Therefore, in the long run, due to their prospects, blockchain-based projects perform far better than their significant others and people are more likely to put in their trust.

Increased efficiency

This is a time-bound economy and we cannot afford delays, particularly when a financial activity is concerned.

If you have ever transferred money across the border through a bank or any other means, you already know the hefty transaction fee they charge, let alone a significant transaction period. Usually, this time is a couple of days which is not at all suitable for doing business.

In crypto, since money can be transferred from one wallet to another in a matter of seconds or minutes (at maximum) the transaction time is much faster. Furthermore, since there are no intermediaries or bank-to-bank conversions involved, the transaction fee is practically negligible.

Taking the technical infrastructure into account, in the banking model, you have to rely on central authorities to approve the transaction before money can be transferred. This takes a lot of time. However, in a decentralized network, as implemented in Tarush, any random nodes are selected for verifying and validating a transaction before transferring the tokens and registering the activity on a public ledger. Therefore, the time consumption is far less.

Purely merit-based

There is no chance of favoritism in a decentralized network. Nobody knows each other and therefore, the possibility of rewarding someone on personal liking stands at zero. There are smart contracts and algorithms which determine the rank of a node and benefits it can enjoy as a result of the rank.