Censorship Resistance

Understanding Censorship Resistance

Censorship resistance refers to the concept that no entity can prevent individuals from participating in a specific platform or network. In the context of blockchain systems, censorship resistance ensures that all network regulations are established and followed by users equally, without the ability to be altered for personal gain.

A blockchain with censorship resistance guarantees the security of all transactions within the network, making them immutable. Once a transaction is finalized, it is distributed to all nodes in the network and becomes extremely difficult to modify. This characteristic was initially introduced by Bitcoin and has since been adopted by numerous cryptocurrency projects.

Interestingly, censorship resistance is particularly valuable for decentralized finance (DeFi) applications. Traditional financial products often have barriers to entry, with intermediaries obstructing access for certain individuals and interfering with transactions. DeFi provides a censorship-resistant alternative to traditional finance, although it comes with higher risks and potential for higher yields.

Many advocates view blockchains as a means to achieve freedom from the constraints of existing systems. In recent years, there has been a push for the implementation of distributed ledger technologies (DLT) in journalism. Journalists often face censorship from powerful organizations and social media companies, which has led to the emergence of decentralized social networks like Steem, Subsocial, and others as potential solutions.

Censoring a blockchain is extremely challenging, although not impossible. This could occur through a 51% attack, but the effects would only be temporary as maintaining such attacks is costly, serving as a significant deterrent for potential attackers.