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Complexity and slowness in decision-making
Decentralized processes that involve the participation of multiple nodes and consideration of various interests tend to be lengthy and prone to bottlenecks.
Example: In blockchain networks like Ethereum, an intricate governance process filled with conflicting interests among participants can hinder the implementation of critical updates.
Predominance of groups with greater computational power:
A decentralized system based on the majority consensus may neglect the concerns and proposals of minority nodes. This could lead to a hegemony of the most powerful actors.
Example: In several cryptocurrencies, there is concern that mining and validation policies favorable to large mining pools are a consequence of the dominance of groups with greater computing power.
Vulnerability to manipulations and coordinated attacks:
Decentralized systems can be subject to exploitation by entities that know how to take advantage of the weaknesses of consensus and coordination to gain advantages, even if it compromises the principles of decentralization. Example: in some blockchains, certain actors have managed to accumulate influence through fork strategies and marketing campaigns that polarized the community.
High technical requirements and ecosystem maturity:
The effective implementation of a decentralized system requires a robust infrastructure, adequate technical understanding on the part of users, and a culture of active participation. This entails significant costs and a long development period. Example: Numerous emerging blockchain projects face the challenge of building a functional decentralized infrastructure and fostering a technically competent community.
Obstacles to face critical situations:
In scenarios that demand a swift and decisive response, decentralized systems are often perceived as slow and inefficient. This can lead to calls for temporary centralization and concentration of authority. Example: during periods of high volatility or network attacks, some decentralized platforms have been forced to adopt measures that temporarily limit decentralization to safeguard the integrity of the system.