What is Censorship Resistance?
Let's find out Censorship Resistance meaning, definition in crypto, what is Censorship Resistance, and all other detailed facts.
Censorship resistance is the idea that no one can be prevented from using any given network or platform. Censorship resistance in blockchain networks means that all users follow the same regulations equally and the regulations themselves cannot be altered for any personal gain.
In censorship-resistant blockchain networks, all transactions are reinforced and protected from any meddling or interference. The data regarding a finished transaction is distributed between all network nodes, making it nearly impenetrable to any attempts to alter it.
This feature has been available since the inception of Bitcoin (BTC) and has been widely adopted by other blockchain-based projects.
Decentralized finance (DeFi) is a sector where censorship resistance holds significant value. Traditional finance products and services can be difficult to enter as there are many restrictions and regulations for people who wish to conduct transactions.
With DeFi, users may access features of traditional finance with censorship resistance. However, this may also carry higher risks and higher yields.
Blockchain technology has been perceived as a step toward freedom from the restrictions of traditional finance systems. Distributed ledger technologies (DLT) have been particularly emphasized, with some advocating to implement them in journalism, a sector that experiences high levels of censorship.
It is very complicated to censor a blockchain. However, such a scenario would not be impossible. One of the ways of managing to censor a blockchain could be a 51% attack, although this tactic would not have a long-lasting effect due to the costs required to maintain it.