Let's evaluate a money transfer system as an example of an application selected to be decentralized. The four questions discussed previously are used to evaluate the decentralization requirements of this application. The answers to these questions are as follows:
- Money transfer system
- Disintermediation
- Bitcoin
- Atomicity
The responses indicate that the money transfer system can be decentralized by removing the intermediary, implemented on the Bitcoin blockchain, and that a security guarantee will be provided via atomicity. Atomicity will ensure that transactions execute successfully in full or not execute at all. We have chosen Bitcoin blockchain because it is the longest established blockchain which ...
