After having talked about what decentralization is and how we achieve decentralization, let's now look at what can really be decentralized. It is very exciting to know that many things in the real world can be brought onto a decentralized blockchain platform:
Now we will look into the things that can be decentralized in detail as shown in the preceding diagram:
- Name Mapping: Anything that is purely digital can be decentralized. The first example in this category is Name Mapping. Namecoin is a good example where human-readable names are mapped with addresses. Different participants can enter names as values, update these values, and blockchain can be used to maintain the current state of that value.
- Storage: This category is another classic example and a business case to use decentralization. The most important and critical requirement...