Here’s a common fallacy in the crypto world: crypto is decentralized, therefore it is safe. Since the creation of blockchain, one central tenet of the crypto narrative is that its decentralized nature provides security to users. However, the numerous crypto exchange hacks prove that this is not the case. In addition, 51% percent attacks are theoretically possible, leading to the conclusion that crypto is more centralized, and therefore less secure, than people think.
This brings us to Truth #9: On Security.
In today’s video, Two Prime CEO Dr. Marc Fleury opines on how the complexities in crypto make it a construct that is unfriendly and unsecure for retail users.