Censorship Resistance Defined: Censorship resistance in blockchain networks prevents external parties from modifying the transactions on the network. Let's take a closer look.
Censorship Resistance Defined
Decentralization, transparency, security, immutability, and resistance to censorship are a few of the benefits of the blockchain that are frequently listed by crypto advocates when they discuss its benefits.
Conversations about censorship are frequently brought up in casual conversation in relation to concerns of press freedom, free speech, and the repression of information and expression. The meaning is similar in the context of open blockchains like Bitcoin and Ethereum. Censorship in this aspect is the suppression of financial activities as opposed to the suppression of information. Hence, the main question of censorship resistance is who can use the blockchain, for what purposes, and who can change the blockchain.
Why is Censorship Resistance Important?
Since they return control to the people, blockchains, at least the large ones like Bitcoin and Ethereum, are revolutionary. It is comparable to Bella Ciao, the 19th-century Italian protest song, but with practical applications.
The first importance of censorship resistance is that it gives people a way to possess property without needing official approval. Good governments can quickly turn bad, turn against a minority, or transform into dictatorships. But there is a limit to the power of the government if transactions are made through blockchains.
The second importance of censorship resistance is protecting the idea of privacy. Although if blockchain ledgers are publicly accessible, it is possible to have total privacy, as powerfully demonstrated by Bitcoin's pseudonymous founder, Satoshi Nakamoto — we know how much bitcoin he probably has but has no idea about who he is.
The third importance of censorship resistance is that blockchains can never be brought down. No government or entity, let's say hackers, can bring down a blockchain as big as bitcoin unless they can take control of 51 percent of the total hash rate on the network. However, that would cost tens of billions of dollars for the possibility of affecting the blockchain (no guarantees).
Censorship Resistance Defined: Why is Censorship Resistance Important? - Hopefully, this article can help you to get some knowledge.
