Justin Bons' Views on ICP :ICP is dangerous!

1/31) ICP is centralized & insecure; ICP is dangerous!

You can bring down ICP by only attacking 40 nodes in known & fixed data centers!

ICP promises the moon but offers nothing unique

Scalability without decentralization is meaningless; ICP’s modular design is the problem:

detail:

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It’s difficult for me to take seriously anyone who ends every other sentence with an exclamation (!) point. This would signify emotional, rather than logical, thinking.

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He may have a lot of twitter followers, but that means absolutely nothing. He is no oracle.

In 2021 he was shilling LUNA saying how it’s a true ETH competitor (that take alone is enough to never trust a word he says)

His portfolio (keep in mind, even though he brags about “oldest cryptocurrency fund in Europe” it’s less than 10million in assets) has underperformed bitcoin since inception. Which means he is continuously choosing the wrong coins. And furthermore- his website and twitter pfp haven’t changed in about a decade.

IMO- he’s a charlatan

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The claim that ICP is centralized is quite laughable :sweat_smile:

The architecture of ICP is built around several key principles that promote decentralization:

Let’s take a brief overview without going in depth about the networks ecosystem design.

*** Chain Key Technology:** This allows the network to operate with a single public key while maintaining multiple subnets. It enables seamless interactions across different nodes without needing centralized control.

*** Canister Smart Contracts:** These are self-contained units of code that run on the network and can interact with each other without needing intermediaries. This promotes an ecosystem where applications can function independently.

*** Node Governance:** The governance model involves multiple independent node providers who contribute to the network’s operation, ensuring no single entity has overarching control.

These design principles create an environment where centralization efforts are inherently counterproductive due to how the system is structured.

We all share a world where perfection is not possible hence the IC has faced challenges that threatened its decentralized nature and that were solved by community contribution.

*** Network Attacks:** In 2021, shortly after its launch, ICP experienced significant volatility in its token price and concerns about security vulnerabilities. However, the decentralized nature of its governance allowed for rapid community response and updates to address these vulnerabilities without requiring centralized intervention.

*** Scalability Issues:** As demand for applications on ICP increased, there were concerns about scalability. The protocol’s design allows it to scale horizontally by adding more nodes rather than relying on centralized servers. This adaptability has enabled it to maintain performance levels even under increased load.

*** Regulatory Scrutiny:** As with many blockchain technologies, ICP has faced scrutiny from regulatory bodies regarding compliance and governance. The decentralized structure means that no single entity can be held accountable in a traditional sense, allowing it to navigate regulatory landscapes more flexibly than centralized organizations might.

In each of these situations, the technology and code behind ICP have proven resilient. Updates and improvements can be made through community consensus rather than top-down directives from a central authority. This ensures that even when challenges arise, the core principles of decentralization are upheld.

By resisting centralization pressures through its design, ICP has achieved,
*** Trustless Environment:** Users can trust that their data and applications are not controlled by any single organization.

*** Innovation Incentives:** Developers are encouraged to innovate without fear of censorship or control from centralized entities.

*** Community Engagement:** The governance model fosters active participation from stakeholders in decision-making processes related to protocol upgrades or changes.

These factors contribute significantly to maintaining the value of ICP as a decentralized platform amidst external pressures for centralization.

In summary, while many organizations may wish to centralize aspects of their operations within the Internet Computer Protocol framework for perceived benefits such as efficiency or control, the very design and coding principles underpinning ICP ensure that it remains fundamentally decentralized. Its resilience against various challenges further solidifies this characteristic as essential for its ongoing value proposition in the blockchain ecosystem. ICP CAN BOLDLY PROOF THE CLAIM THAT IS DECENTRALIZED, UNLIKE MANY BLOCKCHAINS ON THE MARKET!

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