Decentralized services are applications or platforms that operate without a central authority, instead relying on a distributed network of computers. These services are built upon blockchain technology or similar distributed ledger systems. They aim to provide greater transparency, censorship resistance, and user control compared to traditional centralized offerings. Examples include decentralized finance (DeFi) protocols and decentralized autonomous organizations (DAOs).
Context
The expansion of decentralized services represents a significant trend in the digital asset space, offering alternatives to conventional financial and internet applications. Regulatory bodies worldwide are actively examining how to classify and oversee these offerings, which presents both opportunities and challenges. News frequently covers the emergence of new decentralized applications and their impact on various industries.
A novel sidechain architecture introduces mutual-dependence with the mainchain to offload resource market operations, fundamentally enhancing throughput and data efficiency.
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