The movement from concentrated to dispersed production methods and consumption of products and services is decentralization. Before this time, methods of operations had been stiff and one-directional as businesses, organizations, and every kind of transaction required a central body to interface with.
However, the new system of decentralization that has swung in the last few years has not only been disruptive but is strutting on fine along its way to user liberation and overall systems efficiency. The decentralized internet is an individual-led network driven by users themselves and without the need for a hosting body to be in charge. Decentralized applications allow the management, access, and ownership to be distributed across multiple nodes in a network. Clients from any part of the world can access these kinds of nodes.
A centralized internet system is a single body network with access to the multi-domain network and resource state. These networks are controlled from a central location and are often not secure as privacy cannot be ensured. The head of centralized platforms that people use may opt to make it simple to get information on their clientele.
It is also feasible to influence people's online decisions by using the information offered inadvertently by them when they surf the internet. In addition, despite the ease with which the centralized internet system may be set up and reconfigured, it faces the risk of failure if the primary servers become corrupted.
For example, because of a single server system failure at Facebook, more than 3.5 billion people got cut off from one of the world's most successful and widely used data storage, communication, and information exchange platforms. Compared to a decentralized network, a centralized network is significantly easier to hack. Networks with many nodes that support various operating systems offer more robust protection, and therefore, the decentralized internet provides more security and fairness than centralized networks.
For instance, Filecoin, a platform built on the decentralized internet, enables anyone to rent out their computer's extra storage space, making it an innovative solution. Filecoin is an open-source cryptocurrency and digital payment system that aims to be a unified digital data storage and retrieval solution based on blockchain technology. As a novel interplanetary file system created by Protocol Labs, the initiative was launched in August 2017 and raised over $200 million within 30 minutes. The coin's mainnet was later launched in October 2020.