Research Summary - Understanding Security Issues in the NFT Ecosystem

“The NFT system, like all other decentralized systems, revolves around decentralization. The interference of a central system or method consequently defeats the whole concept.”

I think this statement is internally consistent. The issue becomes, the statement presumes an “all or nothing” state concerning decentralization; which is only necessary when a specific type of decentralization is not alluded to. One of the running conversations on the forum is “what types of decentralization can occur”?

In this context, with the understanding that NFTs seem to be unable to cross the mainstream adoption threshold without some sort of regulatory clarity which area do you think would be most pragmatic for decentralization?

The contracts? The network security layer? The application layer? The regulatory oversight?

It doesn’t seem feasible to try to decentralize every single aspect of a system (unless I am missing something).

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